Bank of Montreal announced an agreement to buy the retirement record-keeping business of Integra GRS, a group retirement services unit of Integra Capital Management Corp. of Ontario.
The business provides services for capital accumulation plans. The deal is expected to close in the fall, Bank of Montreal said last week.
Integra has provided record-keeping services since 1988. Integra GRS, which was incorporated as a separate company in 2006, provides investment products and services using an open architecture platform.