BMO to Acquire Wealth Manager Burgundy Asset Management
Why we think this is neutral
This RNS announcement is a general corporate update regarding BMO's acquisition of Burgundy Asset Management, a leading independent wealth manager. While the acquisition may strengthen BMO's wealth management capabilities, the announcement does not contain any specific financial figures or trading updates that would warrant a more positive or negative sentiment score.
Key Points
- BMO to acquire Burgundy Asset Management Ltd. for approximately $625 million
- Burgundy has $27 billion in assets under management as of May 2025
- Acquisition will expand BMO's wealth management and financial planning capabilities for high-net-worth clients
- Transaction expected to close by the end of 2025, subject to regulatory approvals
Summary
BMO (TSX:BMO) announced it will acquire Burgundy Asset Management Ltd., a leading independent wealth manager, for approximately $625 million. The acquisition will expand BMO's wealth management and financial planning capabilities focused on high-net-worth and ultra-high-net-worth individuals, families and institutions. Burgundy has approximately $27 billion in assets under management as of May 2025. The transaction is expected to close by the end of 2025, subject to regulatory approvals.