Despite three funds moving
down the road to Chicago, a top BMO Harris
executive said they are committed to growing in Milwaukee, home of the Marshall and Ilsley family of funds they purchased in 2010.
“We are 100 percent committed to our Milwaukee team,” said Barry McInerney
, chief executive officer of BMO Asset Management in the United States, to Rich Kirchen of the Milwaukee Business Journal
A former Marshall PM told the pub that the move made fiscal sense.
"Business-wise, it makes a lot of sense to consolidate and get rid of people," Alan Creech
, now CIO of Milwuakee-based Cedar Creek Securities
, told the paper of BMO’s moves. “The sad part is the M&I jobs that they are getting rid of are all highly paid individuals.”
Milwaukee is still BMO's mutual fund headquarters, with $9.4 billion of assets in 23 funds.
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