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BRIEF-BMO Refocuses Wealth Management Business For North American Growth, Announces Sale Of EMEA Asset Management Business

Published 2021-04-12, 07:31 a/m
© Reuters.
BMO
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April 12 (Reuters) - Bank of Montreal BMO.TO :

* BMO REFOCUSES WEALTH MANAGEMENT BUSINESS FOR NORTH AMERICAN GROWTH, ANNOUNCES SALE OF EMEA ASSET MANAGEMENT BUSINESS

* BMO FINANCIAL GROUP - BANK WILL RECORD A NET WRITE-DOWN OF GOODWILL RELATED TO CERTAIN BUSINESSES OF ABOUT $745 MILLION AFTER-TAX IN Q2 2021

* BMO FINANCIAL GROUP - BMO WEALTH MANAGEMENT TO ENTER INTO STRATEGIC RELATIONSHIP WITH COLUMBIA THREADNEEDLE INVESTMENTS

* BMO FINANCIAL - ON PRO FORMA BASIS, TRANSACTION'S IMPACT ON BMO'S EFFICIENCY RATIO, ROE & CET1 RATIOS IS IMPROVEMENT OF ABOUT 64 BPS, 20 BPS & 29 BPS RESPECTIVELY

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