BMO Capital Markets Acquires Securities Lending Team and Assets of Paloma Securities
- Tuesday, November 17, 2009, 9:00
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BMO Capital Markets, the investment and corporate banking section of BMO Financial Group have announced on November 16th, that there is a definite agreement with Greenwich, Connecticut-based Paloma Securities, L.L.C. to hire its global securities lending team and acquire assets used in its securities lending business.
Paloma Securities conducts a leading securities lending business.
Paloma Securities has offices located in Greenwich, New York, Seattle, London and Melbourne, Australia. Paloma Securities is a subsidiary of Paloma Funds.
Tom Milroy, CEO of BMO Capital Markets has noted that expanding their securities lending operation fits with their strategy of disciplined growth that focuses on their core clients.
Paloma Securities provides a platform that complements BMO Capital Markets existing capabilities in North America giving a platform that they can build on for the future.
S. Donald Sussman, founder of Paloma Funds believes that BMO Capital Markets is an excellent platform and it is in a position to expand in this valuable business. Paloma Securities has grown in the apst 15 years to become a market leader with a global presence.
The transaction, which is subject to regulatory approval, is expected to close in mid-December. The terms of the deal are not being disclosed at this point in time.
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My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top.
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