Bank of Montreal (TSX:BMO) has entered into a definitive agreement to acquire CTC Consulting, LLC, headquartered in Portland, Oregon, the bank said Thursday.
Recognized for combining dynamic research and holistic advice to help its clients preserve and enhance their wealth, CTC Consulting will merge with Harris myCFO, LLC, BMO’s wealth management solutions business serving the ultra-high-net-worth market in the U.S.
“CTC Consulting’s strong client focus aligns perfectly with BMO and complements our existing ultra-high-net-worth investment offering by strengthening our manager research and advisory capabilities, especially in the area of alternative investments,” says Gilles Ouellette, president and CEO, private client group, BMO Financial Group.
With this acquisition, BMO will expand and enhance its ultra-high-net-worth offering in both existing and new markets. BMO will further strengthen its U.S. geographic footprint on the West Coast and expand its presence along the East Coast. CTC Consulting’s executive committee members will continue to have key leadership positions in the combined firm and clients will continue to work with the same professionals.
Terms of the agreement were not disclosed. The deal is expected to be finalized during the second quarter of 2012.