BMO Nesbitt Burns hires Luke Seabrook, Duncan Marks for new equity-linked group

New York, Sept. 20 - BMO Nesbitt Burns said it hired Luke Seabrook and Duncan Marks for its new equity-linked and mutual fund-linked products group.

Seabrook will be head of the group.

Seabrook and Marks will develop non-proprietary products, both principal protected and non-principal protected, for retail and institutional investors. The products will be linked to various assets including mutual funds, income trusts and equities.

The new group also announced its first deal, called Franklin Templeton Investments bestLink Protected Note - Income Trust Class - series 1. The five-year note has principal guaranteed at maturity and its performance is linked to the Bissett Income Fund series A. The issuer was the Business Development Bank of Canada and principal and interest will be guaranteed by the government of Canada.

"We believe linked products provide investors with a meaningful alternative," said Seabrook in a news release. "There is a large investor audience who are not willing to risk their principal but are dissatisfied with the current level of interest rates paid on low risk investments."

"Most investors who purchase these investments are looking for potentially higher returns, but also want the safety net of protecting their capital," added Marks.

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