US asset manager Columbia Threadneedle on Monday said it has completed the rebranding of the European activities of BMO Global Asset Management, bringing its products and savings plans together under a single brand.
BMO GAM in Europe, the Middle East and Africa manages some 124 billion dollars in assets with about 800 staff. It became part of Columbia Threadneedle Investments after its Canadian parent company, BMO Financial Group, last November sold its EMEA unit for some 715 million euro in cash as part of an effort to refocus its resources on North America.
Thanks to the acquisition Columbia now manages 699 billion dollars across a range of equities, fixed income and alternatives strategies.
Luxembourg Sicavs to adopt CT prefix later
All BMO-branded European-domiciled funds now have been renamed with the CT prefix, the firm said. It is intended that the Threadneedle Luxembourg SICAV funds will adopt the CT prefix at a later date, the firm said.
“Bringing our products and strategies under the Columbia Threadneedle Investments global brand is an important step in the integration of BMO GAM (EMEA) into our business,” Nick Ring (photo), CEO EMEA at Columbia Threadneedle Investments, said in a statement.
The price paid by Columbia represented the equivalent of 0.7 per cent of BMO’s European assets, a relatively modest valuation, the FT reported at the time of the merger.
Investment boutique Pyrford International will continue to operate independently within Columbia Threadneedle Investments. The firm said the rebranding has also provided the opportunity for Investment Trusts Boards to review their Trusts’ names, with some taking the opportunity to refresh the name to better reflect their investment objectives.