He added: “F&C and BMO both take pride in having built distinctive and engaging brands – grounded in a long history of trust – and we share a deeply held conviction in working in the best interests of our clients.”Richard Wilson, Downe’s counterpart at F&C, said changes implemented in recent years put the cpmpany in a good position to develop.“Looking forward, BMO represents a unique opportunity to broaden and accelerate our ambitions,” he said.“The products, geographic presence and cultures of both organisations are truly complementary, and, with BMO’s commitment to growth, this is clearly a very positive outcome for both our clients and employees. We look forward to joining the BMO organisation.”At the end of 2013, F&C reported assets under management (AUM) of £82bn, down from £95bn just 12 months’ prior.At the time, more than 80% of its AUM stemmed from European institutional clients, according to IPE’s Top 400 Asset Managers 2013. F&C Asset Management is set for a £700m (€845m) acquisition by the asset management arm of Canada’s Bank of Montreal in a deal that values the company at a nearly 30% premium over its pre-deal stock price.BMO Financial Group, both the bank and BMO Global Asset Management’s parent company, announced today that it would offer F&C shareholders 120 pence per share, significantly up from its 93.8 pence price at the end of last week and resulting in a £708m offer.The Canadian group said F&C’s board would unanimously recommend shareholders accept the deal, with the acquisition set to close in May, subject to regulatory approval.Bill Downe, CFO at BMO, praised F&C’s “established pedigree” in fixed income, equity and property investments.
Area Girls Basketball Scores. Tuesday. (11-1)Milan 52 South Decatur 35Morristown 57 Central Christian 27