BMO buys Hong Kong wealth management company
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BMO buys Hong Kong wealth management company
jullysan Wed Jan 12, 2011 11:59 am
TORONTO-- Bank of Montreal is buying Hong Kongbased wealth management firm Lloyd George Management to bulk up its presence in China.
The acquisition, for which terms were not disclosed, is the second deal announced in as many months by BMO, which bought Wisconsin lender Marshall & Ilsley Corp for about $4.1 billion in December.
Lloyd George has about $6 billion in assets under its management.
Bank of Montreal's shares were up 38 cents at $58.46 on the Toronto Stock Exchange at midday Tuesday.
The acquisition, for which terms were not disclosed, is the second deal announced in as many months by BMO, which bought Wisconsin lender Marshall & Ilsley Corp for about $4.1 billion in December.
Lloyd George has about $6 billion in assets under its management.
Bank of Montreal's shares were up 38 cents at $58.46 on the Toronto Stock Exchange at midday Tuesday.
jullysan- Posts : 20
Join date : 2011-01-12
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