BMO Capital Markets acted as financial advisor for BMO Financial Group during the completion of its acquisition of Clearpool Group, a New York-based provider of holistic electronic trading solutions and an independent agency broker-dealer operating in the U.S. and Canada.
Debevoise & Plimpton and Osler, Hoskin & Harcourt acted as legal counsel to BMO. Financial Technology Partners acted as financial advisor and Morgan, Lewis & Bockius, Murphy & McGonigle and Stikeman Elliott acted as legal counsel to Clearpool.
BMO originally announced the acquisition on Jan. 22. The transaction delivers new capabilities to BMO’s electronic trading platform. Clearpool will continue to be a separate broker-dealer with information barriers to secure clients’ confidential information.
The acquisition is not expected to have a significant impact on the financial results of the bank and will reduce CET1 ratio by approximately 10bps.
BMO Capital Markets is a financial services provider offering corporate, institutional and government clients services including equity and debt underwriting, corporate lending and project financing, mergers and acquisitions advisory services, securitization, treasury management, market risk management, debt and equity research and institutional sales and trading.