BMO Financial Group has completed its acquisition of KGS-Alpha Capital Markets (KGS), a New York-based fixed income broker-dealer specialising in US mortgage-backed (MBS) and asset-backed securities (ABS) in the institutional investor market.
BMO announced the acquisition on 1May 1 2018.
The transaction complements BMO Capital Markets’ existing MBS trading business and immediately makes BMO a top-tier dealer in securitised products, with special emphasis on agency-backed residential and commercial MBS products.
KGS has been rebranded as BMO Capital Markets.
