BMO signage in Indianapolis

Toronto-based BMO Financial Group (BMO) has completed the acquisition of New York-based KGS-Alpha Capital Markets (KGS), the bank announced Tuesday.

KGS, a fixed income broker-dealer specializing in mortgage- and asset-backed securities in the institutional investor market, has been rebranded as BMO Capital Markets.

The transaction “immediately makes BMO a top-tier dealer in securitized products with special emphasis on agency-backed residential and commercial MBS products,” the bank said in a statement.

BMO first announced the acquisition in May.