logo
Share SHARE
FONT-SIZE Plus   Neg

BMO To Acquire 19.99% Interest In COFCO Trust - Quick Facts

BMO Financial Group (BMO,BMO.TO) said it has entered into a definitive agreement to acquire a 19.99 percent interest - the maximum permitted for a foreign investor - in COFCO Trust Co., a subsidiary of COFCO Group. Terms of the deal were not disclosed.

Gilles Ouellette, president and chief executive officer of BMO Financial Group's Private Client Group and chairman of BMO ChinaCo, commented, "BMO can leverage its North American wealth management and capital markets experience to assist COFCO Trust in developing its wealth management offering. COFCO Trust provides us with a leading entry point and greater flexibility to offer a wider variety of wealth management products directly or through third parties. It complements our investment management capabilities provided by Shanghai-based Fullgoal Fund Management Co. and Hong Kong-based Lloyd George Management."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
10 Worst Places To Raise A Family Whether you are a young couple building a nest or seasoned parents looking for a change of scenery, there are number of places around the country that should be avoided, according to personal finance website WalletHub. They looked at mainly five categories for... A passenger has filed a lawsuit against Canadian budget airline Sunwing Airlines for serving him cheap sparkling wine instead of champagne on board a flight, according to media reports. The Canadian passenger, Daniel MacDuff, reportedly boarded his Sunwing flight to Cuba in February, on a flight package that advertised a complimentary on-board champagne toast. Senate Health Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced Thursday that twenty-two other Senators are cosponsoring their bipartisan plan to provide short-term stability to Obamacare. The bipartisan bill includes a two-year extension of the cost-sharing...
comments powered by Disqus
Follow RTT