Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:McInerney Focuses BMO on Consultants and Stays Open to Deals Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 19, 2012

McInerney Focuses BMO on Consultants and Stays Open to Deals

Reported by Tommy Fernandez

Over the past decade, the parent company of BMO Asset Management has shown a rapacious appetite for companies that fit within its growth strategies. Notable acquisitions have included Pyrford International, Marshall & Ilsley, Lloyd George, and CTC Consulting. Now, the company is looking to build on the resources of all these acquisitions to grow organically in the United States, according to co-chief executive Barry McInerney.

"I think we have a lot of bandwidth to work with to continue to service our existent clients and grow our business," he told MFWire recently. "We can be smart and enhance our solutions in terms of those acquisitions."

However, competitors be warned, McInerney said that although he and his colleagues plan to focus on organic growth in the coming year, that doesn't mean they aren't open to any good acquisitions should the right opportunity emerge.

"We're always opportunistic, though, we have demonstrated that. It is never like you plan for an acquisition," he said. "As we have demonstrated in the past, if there are opportunities that arise that we believe can enhance our business and enhance shareholder value, we'll do it."

McInerney outlined the broader points of this growth strategy to MFWire in October.

Consultants represent an important part of this organic growth strategy. On the intermediary and asset management sides, McInerney said BMO continues to expand its team to work with these specialists.

"Consultants are extremely important for our business," he said. "On the asset management and retirement side, we continue to expand our sales efforts on the third part intermediary platforms."

Third party distribution of their mutual funds, he said "is something we are ramping up on. We are just continuing to strengthen our partnership with BMO Private Bank. We have been expanding our distribution and client service teams."

"Our overall retirement business is doing very well. Our clients are happy. We continue to work and service them at the best of our abilities," he said.

Regarding BMO's efforts with consultants, McInerney said "we are here to help them, where it makes sense and where it is appropriate."

His company currently employs over 800 people in the U.S. and has roughly $50 billion in AUM.

BMO's philosophy of nimble opportunism, the executive said, applies to all elements of business.

"Like in any business, we need to constantly see where the industry is going, where clients' needs are going. We obviously want to meet those clients needs in the future. We want to make sure we get into new regions, new products and new business so that we have the tailwinds of the industry behind us," he said.

A drill-down into BMO's specific plans regarding the development and distribution of its funds will be reported by MFWire soon. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use