Combining CTC Consulting with Harris myCFO will expand BMO's investment advisory and manager research capabilities in the U.S. and create a leading integrated wealth management firm serving affluent clients.
TORONTO, ONTARIO and CHICAGO, ILLINOIS--(Marketwire - April 12, 2012) - BMO Financial Group today announced that it has entered into a definitive agreement to acquire CTC Consulting, LLC, headquartered in Portland, Oregon.
Recognized for combining dynamic research and holistic advice to help its clients preserve and enhance their wealth, CTC Consulting will merge with Harris myCFO, LLC, BMO's wealth management solutions business serving the ultra-high-net-worth market in the U.S.
"CTC Consulting's strong client focus aligns perfectly with BMO and complements our existing ultra-high-net-worth investment offering by strengthening our manager research and advisory capabilities, especially in the area of alternative investments," said Gilles Ouellette, President and Chief Executive Officer, Private Client Group, BMO Financial Group.
"Combining CTC Consulting's enhanced research and investment capabilities with Harris myCFO's advisory, implementation and reporting services, will solidify our leadership position in the ultra-high-net-worth market," said Craig Rawlins, President, Investment Advisory Services, Harris myCFO. "The ability to integrate and customize these services sets us apart in our ability to help clients achieve their investment and wealth goals in the U.S. and globally."
"Our mission has been to provide our clients with industry leading advice and analysis that empowers them to make more informed investment decisions and to achieve their financial objectives," said Garb Mechigian, Chairman and Chief Executive Officer, Managing Partner, CTC Consulting. "By joining the Harris myCFO family, we'll be able to broaden and deepen our scope of services and give our clients a greater range of resources to leverage in their efforts to build, protect and enhance their wealth."
With this acquisition, BMO will expand and enhance its ultra-high-net-worth offering in both existing and new markets. BMO will further strengthen its U.S. geographic footprint on the West Coast and expand its presence along the East Coast. CTC Consulting's Executive Committee members will continue to have key leadership positions in the combined firm and clients will continue to work with the same professionals.
Terms of the agreement were not disclosed. The deal is expected to be finalized during the calendar second quarter of 2012.
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