08:05 AM EST, 11/03/2025 (MT Newswires) -- Bank of Montreal ( BNKD ) said Monday that it has completed the acquisition of Burgundy Asset Management.

The acquisition expands BMO Wealth Management and strengthens its offering in the Canadian investment counsel space catering to high-net-worth and ultra-high-net-worth clients.

Burgundy's chief executive officer, Robert Sankey, continues to lead the business which will operate as a separate line of business under BMO Wealth Management. Burgundy co-founders Tony Arrell and Richard Rooney remain with the business.

BMO shares are up US$1, to $125.18, on the Toronto Stock Exchange.