Bank of Montreal announced that it has completed the acquisition of New Jersey-based direct investing firm CSFBdirect. The acquisition was announced November 28, 2001.
CSFBdirect will be integrated with Harris InvestorLine, Bank of Montreal’s existing direct investing business in the United States, to form Harrisdirect.
Harrisdirect is part of the bank’s Private Client Group. With the acquisition of CSFBdirect, the Private Client Group has total assets under management and administration of $Cdn 263 billion ($US 165 billion). The Private Client Group brings together all of the bank’s wealth management services, including retail investment products, full service investing, direct investing, private banking and institutional money management in the U.S. and Canada.