OneAmerica and BMO Financial Group have announced that they have reached an agreement for OneAmerica to acquire BMO Retirement Services, BMO's Milwaukee-based U.S. retirement services business.
BMO Retirement Services is a division of BMO Global Asset Management. Terms of the agreement were not disclosed.
The transaction is expected to close during the third quarter of calendar year 2015. Upon closing, the business will change its name to OneAmerica Retirement Services LLC. OneAmerica has announced that it will continue business operations from BMO Retirement Services' current locations, and most clients will continue to work with their current service teams. BMO Retirement Services employees covered by the agreement will become OneAmerica employees.
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