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
Even after two years of thoroughly searching across the Indian Ocean, using modern technologies and devices, there is no clue about the Malaysian airline that vanished on March 8, 2014. Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform.
comments powered by Disqus
Follow RTT