Harriet Davies
Editor - Family Wealth Report
12 June 2012
Daily News Analysis
BMO Financial Group has completed the purchase of CTC Consulting, a registered investment advisory firm in Portland, OR, and merged the business with Harris MyCFO, its ultra high net worth business in the US.
The deal was announced in April but financial details were not disclosed. At the time, CTC had around $24 billion in assets under advisement and, as well as its Portland headquarters, has offices in Boston, MA, and Darien, CT.
“CTC Consulting’s executive committee members will continue to have key leadership positions in the combined firm and clients will continue to work with the same professionals,” BMO said in a statement in April.
Garb Mechigian, who was chairman and chief executive of CTC, will report to Craig Rawlins, president investment advisory services, Harris myCFO.
CTC was founded in 1981 as Capital Trust Company and became majority owned by its employees after a management buyout in 2008 from Bank of America.
According to CTC Consulting’s website, its executive committee was made up of: Mechigan, chairman and chief executive, managing partner; Kristi Hanson, president and director of research, managing partner; Karen Harding, senior consultant and director of consulting, managing partner; Michael Finan, senior consultant, managing partner; Curt Fintel, chief investment strategist, managing partner; and Robert Gray, chief operating officer, managing partner.
