BMO Financial Group today announced that it has completed the acquisition of KGS-Alpha Capital Markets. KGS is a New York-based fixed income broker-dealer specializing in U.S. mortgage (MBS) and asset-backed securities (ABS) in the institutional investor market.

BMO announced the acquisition on May 1, 2018. The bank says this deal “complements BMO Capital Markets' existing MBS trading business and immediately makes BMO a top-tier dealer in securitized products with special emphasis on agency-backed residential and commercial MBS products.”

KGS has been rebranded as BMO Capital Markets.