Columbia Threadneedle Investments has re-jigged its senior leadership team, carving out roles for BMO executives following its acquisition of the rival Emea funds business.
The deal, which is expected to complete in the fourth quarter, takes Columbia Threadneedle’s assets under management to $671bn (£489bn), making it one of the 10 largest fund groups in the UK.
BMO Gam’s CIO Richard Watts (pictured), head of alternatives Stewart Bennett and global head of distribution David Logan all feature in Columbia Threadneedle’s new line-up, pending regulatory approval.
Watts, who has spent the last 16 years at BMO Gam, will become CIO Emea at Columbia Threadneedle. He takes over for William Davies who will succeed global CIO Colin Moore when he retires in January 2022.
See also: Columbia Threadneedle names successor for global CIO
Logan, another BMO Gam veteran, has slotted into the new role of global chief operating officer which will see him drive the firm’s long-term strategic agenda and play a key role in the firm’s risk management culture. Most of his current distribution responsibilities at BMO will fall onto Michaela Collet Jackson, Columbia Threadeedle’s Emea distribution head, pending regulatory approval.
Meanwhile, Bennett has been appointed to the newly created role of global head of alternatives, leading a team managing over $47bn worth of assets after the BMO deal completes. He will oversee Columbia Threadneedle’s expanded real assets businesses, private equity arm and US-based Seligman hedge fund, as well as BMO legacy businesses, Thames River Capital and Pyrford.
CEO Ted Truscott said establishing a global alternatives business was “an important milestone for Columbia Threadneedle”.
“Our acquisition of BMO’s European asset management business adds complementary strengths and capabilities in strategically important areas, and these appointments demonstrate the compatibility of our businesses,” he added.
