BMO Financial Group Completes Acquisition of Integra’s Group Retirement Recordkeeping Business

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BMO Financial Group has announced on November 24th, 2009 that it has completed the acquisition of the group retirement recordkeeping business of ICMC Group Retirement Services Inc (Integra GRS), a subsidiary of Integra Capital Management Corporation.

This acquisition was announced in June 2009, and after several months, it is finally completed.

Ed Legzdins, Senior Vice President, Retail Investments, Private Client Group and Managing Director, International, BMO Capital Markets has noted that the acquisition represents a great opportunity for growth.

He goes to say that with the capital accumulation plan market growing quickly, it is a great time to develop BMO’s group retirement services platform.

With the acquisition of the Integra’s Group Retirement Recordkeeping Business, this is able to provide BMO with an entry into the business and allow BMO to make available a full suite of BMO branded investment products.

Some products include mutual funds, as further investment options will allow for capital accumulation plan sponsors and members.

BMO is positioned to offer a variety of additional solutions to plan sponsors and plan members. For the future, they can bring better ideas and solutions to BMO’s capital accumulation plan clients.

Overall, everyone at BMO is pleased with this acquisition as it will enable further growth for BMO.

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