Deloitte Romania has made two new appointments within its financial advisory (FA) practice. Lars Wiechen will take over the role of partner-in-charge for Deloitte Romania's FA service line starting June. Alongside him, Radu Dumitrescu has been promoted to partner and will be responsible for mergers amp; acquisitions transaction and reorganization services within the FA function.

Wiechen has been with Deloitte since November 2014 as valuation amp; modelling partner, while Dumitrescu joined Deloitte as a senior manager five years ago.

The new Deloitte FA team will also expand its service offerings starting June, as the firm's forensic practice will be joining FA, as part of the overall change. Paula Lavric, director, will continue to lead Deloitte's forensic team as she has been doing in the last five years. The FA team currently has 40 members.

"We have identified an increasing demand for FA solutions, therefore we are investing in the growth of our FA practice as part of our overall business strategy," said Ahmed Hassan, country managing partner for Deloitte Romania.

Deloitte provides audit, consulting, financial advisory, risk management, tax and related services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte has a global team of more than 225,000 professionals.

Natalia Martian

CHICAGO, ILLINOIS and MINNEAPOLIS, MINNESOTA and TORONTO, ONTARIO--(Marketwired - June 2, 2016) - BMO Financial Group (TSX:BMO)(NYSE:BMO) announced today that it has entered into a definitive agreement to acquire the business of Greene Holcomb Fisher (GHF), a premier boutique Mamp;A advisory firm based in Minneapolis, with additional offices in Seattle and Atlanta. The transaction requires regulatory approval and is expected to close in BMOs fiscal fourth quarter, which ends on October 31. The terms of the deal are not being disclosed.

Over its more than 20-year history, GHF has built a reputation for providing hands-on merger and acquisition advice to family and entrepreneur owned companies, private equity groups and public companies in the United States. With more than 30 investment banking professionals, GHF has completed in excess of 100 transactions over the last 5 years.

The transaction will complement BMO Capital Markets existing Mamp;A practice by significantly increasing its number of global Mamp;A professionals and doubling the number of Mamp;A transactions in the United States. In 2015, the two firms advised on a total of 90 completed Mamp;A transactions with a value of $77B. GHFs industry focus areas are similar to BMOs in the US, including Industrials, Food, Consumer amp; Retail, Healthcare, Technology, Business Services, and Energy.

We are pleased to welcome Greene Holcomb Fisher to BMO Financial Group, said Perry Hoffmeister, Global Head of Investment amp; Corporate Banking, BMO Capital Markets. GHF is highly complementary to our US strategy and our focus on the mid-cap space. The transaction underscores our commitment to effectively serve our US clients by deepening our Midwest footprint, growing our US Mamp;A business and strengthening our client focus on the industry sectors that we cover, he said.

GHFs strong capabilities in serving the financial sponsor community, as well as privately held and family-owned companies, will allow us to broaden coverage of our US capital markets and commercial bank clients, said Lyle Wilpon, Head, US Mamp;A, BMO Capital Markets. In making this acquisition we are adding expertise, depth and experience to enhance our capabilities and better serve our clients in these business segments.

We are excited to join BMO Capital Markets, said Hunt Greene, Managing Director, GHF. As a leading North American financial services provider with strong brand recognition, broad capital markets expertise and lending capabilities, BMO Financial Group will provide our team with the tools to accelerate the growth of our advisory business.

This transaction will provide our employees with significant career opportunities and benefit our clients with deeper vertical industry expertise and broadened product capabilities, added Brian Holcomb, Managing Director, GHF.

Upon closing, GHF will be rebranded as BMO Capital Markets. The GHF team will report to Mr. Wilpon.

About BMO Capital Markets

BMO Capital Markets is a leading, full-service North American financial services provider. With more than 2,200 employees operating in 28 locations, including 15 in North America, BMO Capital Markets offers corporate, institutional and government clients access to a complete range of investment and corporate banking products and services.

About BMO Financial Group

Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $681 billion as of April 30, 2016, and over 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.

About Greene Holcomb Fisher

Greene Holcomb Fisher, with offices in Minneapolis, Seattle and Atlanta, is an investment banking firm that specializes in mergers and acquisitions, private placements and financial advisory services for the middle market. At Greene Holcomb Fisher, experience from nationally prominent investment banks and leading law firms is blended with senior-level attention and entrepreneurial ingenuity to deliver creative services to high quality companies. Greene Holcomb Fisher investment bankers specialize in the Consumer, Food amp; Agribusiness, Healthcare, Industrial Products amp; Services, Business amp; Education Services, Technology and Energy amp; Infrastructure sectors. For more information, please visit

The financial advisory world has always been opaque. Hidden in the fine print of many a prospectus are steep fees and commissions that have kept unsuspecting, everyday investors from maximizing their returns.

Fees are an unavoidable evil of investing, but that doesnt mean investors have to overpay when it comes to them. Few people pay much attention and just dont realize how those fees can eat away at your portfolio.

To prevent those saving for retirement from paying higher fees, the Department of Labor publishedtheConflict of Interest Rulelast April. It requires that all financial advisers dealing with retirement accounts act as fiduciaries and look out for their clients' best interests. The rule is being phased in and wont be fully enforced until January 2018.

In the meantime, opposition to the fiduciary rule is mounting. On Wednesday, the US Chamber of Commerce and several investment industry groups filed a lawsuitto prevent the rule from being enforced. They claim that the rule makes it more difficult for smaller investors to afford retirement advice. The reason, they argue, is that paying commissions on smaller amounts could end up being less expensive than paying a fixed or asset-based fee often charged by a fiduciary.

Earlier this year, the US House and Senate, responded to those same arguments from the financial industry by voting against the rule.

Pamela Banks, senior attorney and program manager for Consumers Union,the advocacy and policy arm of Consumer Reports, says she isnt concerned about the mounting opposition. Thats partly because President Obama has vowed to veto any bill that tries to kill the measure.

Also, many financial advisory firms plan to meet the requirements of the rule anyway. A recent survey by Fidelity Investmentsshows that almost half of all investment companies have started to make changes to comply with the rule.

Sheryl Garrett, chief executive of Garrett Planning Network, which connects individuals with financial advisers who are fiduciaries, also says that businesses are adapting to the new requirements. "You either go out of business because you're not complying, or you step back and rethink how you can serve these clients in their best interest, she says.