A Bank Of Montreal (BMO) sign is pictured in Ottawa on Monday, July 11, 2022. THE CANADIAN PRESS/Sean Kilpatrick
July 25, 2022 - 9:28 AM
TORONTO - BMO Financial Group says it has hired 13 investment professionals for its Global Asset Management division as it looks to boost its portfolio management capabilities in Canada.
The bank says the hires have a long history of collaborating as a team as they collectively managed $20 billion in assets.
It says the Toronto-based team, whose members were previously at CI Financial Corp. according to Linkedin profiles, has global expertise in a range of areas including healthcare, technology, industrials, utilities and energy.
Kristi Mitchem, head of BMO Global Asset Management, says the team's collaboration across asset classes is critical as BMO focuses on growing the division in Canada.
Last year BMO sold its European asset management business to Ameriprise Financial Inc. for $1.09 billion as it refocused growth on North America.
The latest hires will build on BMO's efforts to expand its Global Asset Management division, where it has now hired more than 50 investment professionals as part of its expansion push.
This report by The Canadian Press was first published July 25, 2022.
Companies in this story: (TSX:BMO, TSX:CIX)
News from © The Canadian Press, 2022