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BMO completes sale of EMEA Asset Management business

TORONTO, Nov. 8, 2021 /CNW/ - BMO Financial Group (TSX: BMO) (NYSE: BMO) announced today that it has completed the previously announced sale of the entities that represent its EMEA Asset Management business to Ameriprise Financial, Inc. (NYSE: AMP).

The transaction supports BMO's goals to optimize efficiency and to focus capital and investment in areas where it has an advantaged market position, including its North American Wealth Management businesses.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $971 billion as of July 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

For further information: For media enquiries: Jeff Roman, Toronto, (416) 867-3996; For investor enquiries: Christine Viau, Toronto, (416) 867-6956