Columbia Threadneedle Boston Strengthens Presence with Key Asset Management Deal

Columbia Threadneedle Boston has made a significant move to strengthen its presence in the asset management industry. The company has successfully completed a key deal that will undoubtedly boost its capabilities.

This deal is a testament to the company's commitment to growth and expansion. By acquiring new assets, Columbia Threadneedle Boston is well-positioned to offer a wider range of investment solutions to its clients.

Worth a look: Columbia Threadneedle Investments

Columbia Threadneedle's parent company, Ameriprise, is making a significant move, paying $845 million for BMO's European asset management operations. This deal adds $124 billion to Columbia Threadneedle's assets under management.

The acquisition is a big deal for Columbia Threadneedle, and it's the largest one they've made since Ameriprise bought the fund management group from Bank of America in 2010. Columbia Threadneedle's chief executive, Ted Truscott, said the deal is "very complementary" to their existing business.

Columbia Threadneedle is also planning to bring many of BMO's fund management clients in the US on board, pending their approval. This could potentially add more assets to their already substantial portfolio.

Worth a look: Ameriprise Financial Ratings

Ameriprise is paying $845 million for BMO's European asset management operations. This is the biggest acquisition under Ameriprise's ownership.

The deal adds significant assets under management to Columbia Threadneedle, with $124 billion being managed by the business being acquired from BMO Financial Group. This is a huge boost to Columbia Threadneedle's assets.

The business being sold is primarily in Europe, with some operations in the Middle East and Asia. Columbia Threadneedle also expects to bring many of BMO's fund management clients in the US on board, pending their approval.

After the deal closes at the end of the year, Columbia Threadneedle will manage more than $670 billion in mutual funds, separate accounts, real estate, and other financial assets. This is a massive increase in assets for the company.

Ted Truscott, Columbia Threadneedle's chief executive, said this BMO deal is the largest acquisition for Columbia since Ameriprise bought the fund management group from Bank of America in 2010.

Here's an interesting read: What Is Ameriprise Financial

Columbia Threadneedle Investments has inked an office lease for its new headquarters at Boston's Atlantic Wharf.

The 32-story office building is located in downtown Boston at 290 Congress St.

The asset management firm plans to begin moving into its new office in the summer of 2021.

Columbia Threadneedle will occupy two floors at the building.

The firm is owned by Boston Properties.

Columbia Threadneedle employs more than 2,000 people and has offices in 17 countries.

The company was represented by John Boyle, Michael Joyce, Tom O'Regan, and Maeve Cleary of Cushman & Wakefield in the lease transaction.

A different take: Bain Capital Boston Office