Freeman Welwood Being Purchased

Fri., June 16, 2000

From Staff

Bank of Montreal and its American subsidiary, Harris Bank, will purchase Seattle-based Freeman Welwood and add the brokerage to its Harris InvestorLine subsidiary.

Freeman Welwood President Michael Freeman said the deal will likely lead to adding a wealth management expert in the firm’s Spokane office.

The branch in Spokane’s Great Western Building now employs five. Other offices are in San Francisco, Denver, Salt Lake City, Tacoma, Phoenix, Portland, Bellevue and Honolulu.

Freeman Welwood serves 90,000 accounts with $4.5 billion in assets.

The offices will be integrated into the Harris InvestorLine network, which serves 70,000 accounts with $4 billion in assets.

Freeman Welwood will also become part of the Bank of Montreal Private Client Group, which manages total assets of $148 billion.

Freeman said the acquisition will close in about two months.

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Freeman Welwood Being Purchased

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