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Industry Spotlight > Mergers and Acquisitions

Montreal Bank Wants To Buy U.S. Money Managers

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NU Online News Service, Jan. 15, 11:25 a.m. – Bank of Montreal, Montreal, is eager to acquire money managers in the United States as well as U.S. banks and direct investment firms.

The bank has spent $1.4 billion on U.S. acquisitions in the past two years. Two months ago, it acquired CSFBdirect, a large U.S. investment Web site.

Gilles Ouellette, president of the Bank of Montreal private client group, today told members of a University of Western Ontario alumni group that his company is still shopping for wealth management companies in growing, affluent areas.

The bank emphasized its interest in U.S. acquisitions by distributing a summary of the speech in a press release.