OneAmerica to acquire BMO’s U.S. Retirement Services Business

Special to The Freeman

June 26, 2015

MILWAUKEE – OneAmerica and BMO Financial Group are announcing the agreement reached for OneAmerica to acquire BMO’s Milwaukee-based, U.S. retirement services business, BMO Retirement Services, 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.

At that time. the business will adopt the name OneAmerica Retirement Services, LLC.

OneAmerican has announced that it will continue to work with their current service teams. BMO Retirement Services employees covered by the agreement will become OneAmerica employees.

BMO’s U.S. retirement services business has more than 200 professionals with approximately 830 plans.

The retirement services business of OneAmerica serve more than 11,000 plans and have more than $30 billion in retirement assets under administration.