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Home / transaction / Berkshire Global Advisors client BMO Capital Markets sells municipal bond sales, trading and origination business to Piper Jaffray
Berkshire Global Advisors client BMO Capital Markets sells municipal bond sales, trading and origination business to Piper Jaffray
  • has sold municipal bond business to

    • Berkshire Global Advisors client BMO Capital Markets sells municipal bond sales, trading and origination business to Piper Jaffray

  • Date: July 2015
  • Sector: Securities and Investment Banking
  • Sub-Sector: Investment Bank
  • Region: North America
  • Seller AUM: N/A

    • Seller Details
    BMO Capital Markets is a leading, full-service North American financial services provider. With approximately 2,300 employees operating in 29 locations, including 16 in North America, BMO Capital Markets offers corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group, one of the largest diversified financial services providers in North America.

    Buyer Details
    Piper Jaffray Companies (NYSE: PJC) is an investment bank and asset management firm headquartered in Minneapolis with offices across the U.S. and in London, Zurich and Hong Kong.

    Transaction Summary
    Piper Jaffray Companies announced that it has reached a definitive agreement with BMO Financial Group to acquire BMO Capital Markets GKST Inc., BMO’s municipal bond sales, trading and origination business. The acquisition will add depth and breadth to the Piper Jaffray institutional sales, trading and underwriting platform, and will strengthen the firm’s strategy and analytics capabilities as it continues to build out its financial institutions franchise.