The F&C brand carried by formerly London-listed F&C Asset Management is to largely disappear as its North American owner renames the business BMO Global Asset Management.
BMO Financial Group’s existing asset management business in Europe, Middle East and Africa (Emea) will also carry the BMO Global Asset Management name and F&C is to sit as the centerpiece of the operation.
BMO Global Asset Management bought F&C in 2014 and the name change will apply from July 6.
F&C’s institutional, intermediated retail and wholesale business will be re-branded; its property investment manager F&C Reit will be re-named BMO Real Estate Partners; but there will be no change to F&C’s investment trust business and no fund names are changing.
Barry McInerney, co-chief executive officer of BMO Global Asset Management, says F&C Investments “has become renowned for the strong performance of its products, innovative solutions and client dedication”.
In an interview
with Funds Europe
in November last year, he said BMO would double its distribution staff in Europe over the following 12 to 18 months.
Richard Wilson, the chief executive of F&C Investments and BMO Global Asset Management (Emea), says: “Under BMO Global Asset Management we will continue to invest in our business, building on our ambitious plans to expand our distribution team and investing in our talent. We will strengthen our teams and aim to build on our market share substantially in existing markets - such as the UK and Germany - as well as add coverage to additional countries.”
BMO Global Asset Management had more than $254 billion (€225 billion) in assets under management, as of April 30, 2015. It is headquartered by four investment teams based in Toronto, Chicago/Milwaukee, London and Hong Kong, and has boutique managers across the globe, including LGM Investments and Pyrford International.
It is part of New York-listed BMO Financial Group.
©2015 funds europe