F&C Asset Management will take on a central role within the new entity, BMO said.

Some parts of the F&C business will be keeping their name after the firm was bought last year by Bank of Montreal's global asset management business.

While F&C Asset Management will form the “centrepiece” of the newly branded business, BMO Financial Group's asset management arm in Europe, the Middle-East and Africa will rebrand to BMO Global Asset Management, as will F&C’s institutional, intermediated retail and wholesale business, BMO confirmed. F&C Asset Management was founded in 1972 as the manager of the London-listed Foreign & Colonial Investment Trust.

Additionally, F&C REIT, the direct property investor unit, will be known as BMO Real Estate Partners and F&C distribution teams will also come under the BMO Global Asset Management brand. They will take on distribution responsibilities for the full range of the BMO Global Asset Management business.

Meanwhile, F&C’s investment trust business will remain unchanged, as will F&C's fund names.

“F&C Investments has become renowned for the strong performance of its products, innovative solutions and client dedication. We look forward to building on this success under the BMO Global Asset Management brand,” said the co-chief executive at BMO Global Asset Management, Barry McInerney.

“Under BMO Global Asset Management we will continue to invest in our business, building on our ambitious plans to expand our distribution team and investing in our talent. We will strengthen our teams and aim to build on our market share substantially in existing markets – such as the UK and Germany – as well as add coverage to additional countries,” added Richard Wilson, chief executive of F&C Investments and BMO Global Asset Management, EMEA.

BMO Global Asset Management, part of New York-listed BMO Financial Group, had total assets of C$633 billion ($514 billion) as of the end of April, with a staff of over 47,000.