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Canadian bank strengthens Mainland wealth management ambitions; acquires trust company

Bank of Montreal (BMO) is acquiring a significant interest in Chinese state-owned COFCO Trust Co. BMO believes the move will help expand its offering to high net worth and institutional clients in China. BMO’s acquisition was capped at 19.99%—the maximum amount permitted for a foreign investor. BMO is the only Canadian bank in China with branches in Beijing, Guangzhou and…

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