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Bank of Montreal completes 19.99% acquisition of China’s COFCO Trust obtaining a slice of China’s wealth market

Bank of Montreal (BMO) completed its acquisition of COFCO Trust, a Chinese trust company which offers wealth management products to high-net worth individuals (HNWI) in the country. BMO will now own a 19.99% stake in COFCO Trust, the limit for a foreign investor, though the terms of the deal were not disclosed. As of 2011-end, COFCO Trust had RMB36 billion…

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