"Loop Capital is proud to accelerate our growth as a firm through the acquisition of the well-respected and talented TCH team. We are incredibly excited for what this expansion means to the strength of our future as a firm," Ms. Gibson said in a news release Monday.
Taplin, Canida & Habacht employees now work for Loop Capital Asset Management and will continue to operate in Miami, Ms. Gibson said. Loop Capital is headquartered in Chicago.
Layoffs aren't planned for Taplin, Canida & Habacht employees, but there might be some changes of roles.
"We will be evaluating opportunities to best leverage everyone's skill set most appropriately and will implement changes as we deem fit for the organization," Ms. Gibson said in her email.
Loop Capital Asset Management has already appointed TCH employees Scott Kimball and Adam Phillips managing directors and co-heads of fixed income. Mr. Kimball also is head of investments. The global fixed-income positions are new, Ms. Gibson said.
Taplin, Canida and Habacht joins MJE-Loop Capital Partners, a joint venture launched in 2015 with Magic Johnson Enterprises, in Loop Capital Asset Management. The firm managed $850 million in U.S. infrastructure opportunities as of Dec. 31, Ms. Gibson said.
BMO's sale of Taplin Canida to Loop Capital follows the Nov. 8 sale of the firm's EMEA business to Ameriprise Financial for management by the firm's Columbia Threadneedle Investments unit.
Ameriprise paid $829 million in the all-cash deal, the firm said in a Nov. 8 news release.
The addition of the $131 billion in assets increased Columbia Threadneedle's assets under management to $714 billion.
BMO said it is focused on its long-term profitability and its North American wealth management business in an April 12 news release announcing the sale of its EMEA business to Ameriprise.