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BMO jettisons Emea asset management arm to Ameriprise Deal adds $124bn of AUM to US adviser’s global asset manager Columbia Threadneedle Ameriprise Financial has bought BMO Financial Group’s Emea asset management business for around $845m (£615m). The transaction will be fully paid in cash and is expected to close in Q4 2021, subject to regulatory approvals in all the relevant jurisdictions. The deal adds $124bn of assets under management in Europe to Ameriprise which, at completion, will reach over $1.2trn in AUM. The US advice firm said the acquisition accelerates its plans to grow its fee-based businesses and increase the overall contributions of the wealth management and asset management divisions to the group. ....