US EditionBMO to Acquire Burgundy Asset Management
- On June 19, 2025, BMO Financial Group announced it will acquire Toronto-based Burgundy Asset Management Ltd. for approximately $625 million.
- The acquisition followed challenges Burgundy faced transitioning ownership to new leadership despite the firm's growth and employee ownership since its 1990 founding.
- Burgundy, which oversees approximately $27 billion in assets for private clients, foundations, and pension funds and employs 150 staff, will continue its operations under the BMO Wealth Management division following the completion of the acquisition.
- Deland Kamanga of BMO called Burgundy 'one of Canada’s most respected independent investment managers' and stated BMO will hold back $125 million payable 18 months after closing if asset targets are met.
- The deal is subject to regulatory clearance and is anticipated to be finalized by the close of 2025, broadening BMO’s services for affluent clients and enhancing its position in the Canadian investment counsel market.
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BMO Acquires Burgundy in CA$625M Deal - USA Herald
In a calculated move set to shake up Canada’s investment advisory landscape, BMO Financial Group announced it will acquire Burgundy Asset Management Ltd. for CA$625 million ($455 million)—a strategic transaction poised to deepen BMO’s reach into high-net-worth and ultra-high-net-worth markets. The acquisition, spearheaded by Osler Hoskin & Harcourt LLP for BMO and Torys LLP for BMO acquires Burgundy in CA$625M deal to boost wealth management and
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