BMO's Australian Expansion
BMO Strengthens Mining and Metals Leadership with Euroz Hartleys Capital Markets Acquisition
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BMO Financial Group has agreed to buy the capital markets business of Australian firm Euroz Hartleys Group for A$145 million in cash, the bank announced on June 29, 2026. The deal gives BMO a major foothold in Perth, Australia's mining heartland, and cements its position as a top global adviser in metals and mining Newswire.
The transaction is expected to close in the fourth quarter of 2026, pending shareholder and regulatory approval. About 40 Euroz Hartleys team members will join BMO Capital Markets at closing Yahoo Finance.
A A$145 Million Bet on Australia's Mining Hub
Euroz Hartleys Group (ASX: EZL) is one of Australia's best-known mining-focused brokers. The firm was itself born from a merger in 2020 between two of Western Australia's most prominent financial houses TradingView. Its capital markets arm focuses on equity raises, mergers and acquisitions, and research in metals and mining.
BMO has had an Australian presence since 2004, with an office in Melbourne. But the Euroz Hartleys deal gives it a major base in Perth — the city at the center of Australia's iron ore, gold, and lithium industries. Euroz Hartleys had a market cap of roughly A$171.7 million before the definitive deal was announced Yahoo Finance.
BMO Already Leads Global Mining M&A Rankings
BMO is not new to the mining world. In the first quarter of 2026, BMO Capital Markets ranked first among financial advisers for global mining mergers and acquisitions, advising on deals worth a combined US$8.7 billion Newswire. The Euroz Hartleys acquisition is designed to build on that lead.
Carrie Cook, BMO's global head of investment banking, called the deal "a decisive step to strengthen our position as the global leader in metals and mining investment banking" Newswire. Andrew McKenzie, executive chairman of Euroz Hartleys, said the combination would create "a stronger and more competitive global platform" Yahoo Finance.
Wealth Management Arm Stays Independent With a New Alliance
The deal does not include Euroz Hartleys' private wealth business. That arm will remain separate and independent. However, it will form a strategic alliance with BMO. This means private wealth clients will keep access to BMO's research and distribution networks Yahoo Finance.
Some analysts have raised questions about what happens next. Once the capital markets and wealth businesses are run by different owners, the "cross-pollination" between them may be harder to maintain. Analysts at Pitt Street Research noted that the deal logic is stronger for BMO than for Euroz Hartleys as a standalone firm — which helps explain the price paid TradingView.
Foreign Approval Required as Canadian Banks Move Into Australian Finance
The deal needs sign-off from Australia's Foreign Investment Review Board (FIRB), the government body that screens overseas buyers of local assets. This is a reminder of a broader trend: independent Australian brokers are increasingly being absorbed by large international banks Newswire.
BMO is not the first Canadian firm to make this move. Canaccord Genuity acquired Perth-based Patersons Securities back in 2019. BMO's own finances look healthy heading into this deal: its adjusted earnings per share hit CA$3.67 in Q2 2026, beating analyst estimates of CA$3.42. Total assets stand at roughly CA$1.5 trillion Yahoo Finance.
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