Bank of Montreal
Encyclopedia
The Bank of Montreal (commonly BMO in either official language), or BMO Financial Group, is the fourth largest bank
in Canada
by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson (1755-1831) and eight merchants in a rented house in Montreal
, Quebec
. On May 19, 1817 the Articles of Association were adopted, making it Canada's oldest bank. BMO's Institution Number (or bank number) is 001.
In Canada, the bank operates as BMO Bank of Montreal and has more than 900 branches, serving over seven million customers. The company also has substantial operations in the Chicago
area and elsewhere in the United States, where it operates as BMO Harris Bank. BMO Capital Markets
is BMO's investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns
.
The company is ranked at number 150 on the Forbes Global 2000
list.
In 1925, it merged with the Molson Bank
. BMO's operational headquarters moved to First Canadian Place
on Bay Street
in Toronto
in 1977, while its legal head office remained in Montreal.
Like the other Canadian chartered banks, it issued its own paper money. BMO issued notes from 1817–1942. The end dates are the final dates appearing on notes, which may have circulated for some time after. The Bank of Canada
was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency.
It increased its ownership of the investment firm Nesbitt Thomson, up to 75% on Sep 30, 1987.
Today, the Bank of Montreal commonly goes by the acronym BMO . It is a major international bank with a large number of connections across Canada and around the world.
A number of branches were designed by Andrew Taylor (Architect)
including
The Bank of Montreal also constructed a three-storey bank on Saint Jacques Street
in Montreal in 1818. The building was modelled after a Georgian townhouse with a small porch with a classical pediment supported by Doric columns. The Bank of Montreal's operational headquarters is located at First Canadian Place
in Toronto, which was designed by Edward Durrell Stone.
Image:Toronto - ON - First Canadian Place.jpg|First Canadian Place
in 2008
File:Plaque for Bank of Montreal building in Prince Rupert, British Columbia.jpg|Heritage Award plaque for Bank of Montreal building on 3rd Avenue W in Prince Rupert, British Columbia
File:Bank of Montreal building in Prince Rupert, British Columbia.jpg|Bank of Montreal on 3rd Avenue W in Prince Rupert, British Columbia
File:Bank_of_Montreal_branch_with_horse_and_carriage.jpg|Beaux-Arts Bank of Montreal building at Yonge
and Front Street
in Toronto with horse and carriage, now the Hockey Hall of Fame
File:Bank of Montreal 1 db.jpg|Bank of Montreal main Montreal branch
File:Bank of Montreal 2 db.jpg|Bank of Montreal main Montreal branch
File:Bank of Montreal 3 db.jpg|Bank of Montreal main Montreal branch
File:Bank of Montreal 4 db.jpg|Bank of Montreal main Montreal branch
File:St James Street, showing Bank of Montreal & Post Office, Montreal.JPG|Bank of Montreal main Montreal branch ca. 1909
File:Harker House - Magrath, Alta.JPG|Bank of Montreal manager's house in Magrath, Alberta
. Known as the Harker House
.
File:BMO Molsons Bank Waterloo.JPG|Waterloo, Ontario
Molsons Bank Building (BMO Branch) by Andrew Taylor (Architect)
in with Marsland Centre (BMO Data Centre) behind
File:Bank of British North America.JPG|Second Empire Bank of British North America building at the corner of Yonge and Wellington Street in Toronto, now a pub and offices
During its history, Bank of Montreal has merged with or acquired several other Canadian banks:
President was for a long time the highest-ranking title in the bank's history, however this was superseded by Chief Executive Officer in the modern era, starting with G. Arnold Hart. Several of his successors as President were CEO as well, however Matthew W. Barrett
was the first top executive not to be styled president.
The title of the second-ranking executive has changed several times and has often been left vacant. For instance, F. Anthony Comper
as the top deputy to Barrett was President and Chief Operating Officer from 1990 to 1999, until he became Chairman and CEO while retaining his title of President. During most of Comper's tenure as CEO, while there was no official "number two" executive, the CEO of BMO Capital Markets
(the investment banking division) was largely considered the second-most powerful officer. Bill Downe
ascended from CEO of BMO Capital to Chief Operating Officer of the entire group, but held the title only for a transitional period lasting a year until he succeeded Comper as President and CEO in 2007.
(partial list)
BMO is divided into three "client groups" which serve different markets. Each of the client groups operates under multiple brand names.
In October 2008, BMO Financial Group was named one of Greater Toronto's Top Employers
by Mediacorp Canada Inc., which was announced by the Toronto Star
newspaper.
of BMO are: Robert Astley, David Beatty, Robert Chevrier, George Cope
, Bill Downe
, Christine A. Edwards, Ronald Farmer, David A. Galloway
, Harold Kvisle, Eva L. Kwok, Bruce Mitchell
, Philip Orsino
, Martha C. Piper, Robert Prichard
, Jeremy Reitman, Guylaine Saucier, Don M. Wilson III
, and Nancy Southern.
BMO maintains its official legal corporate head office
in Montreal, located on Saint Jacques Street
. However, the Chairman and President and most senior division executives work out of Toronto
headquarters at First Canadian Place
. Under the direction of the Toronto executive, the Montreal Place d'Armes office oversees the bank's economic (and, to some extent, political) relation with the province of Quebec. This reflects the preponderant place of the Toronto Stock Exchange
and Bay Street
in the Canadian economy.
, Toronto FC
and the Toronto Raptors
.
BMO Bank of Montreal is the current title sponsor for the marathon
race for the Vancouver International Marathon Society held each year in May. The current name is "BMO Bank of Montreal Vancouver Marathon
".
Bank of Montreal is also a major sponsor of Skate Canada, and is the title sponsor of the BMO Financial Group Canadian Championships
, BMO Financial Group Skate Canada Junior Nationals, BMO Financial Group Skate Canada Challenges, BMO Financial Group Skate Canada Sectionals, and BMO Financial Group Skate Canada Synchronized Championships. It is also the presenting sponsor of the CanSkate Learn-to-Skate Program.
BMO purchased the naming rights to the national soccer stadium (BMO Field
) at Exhibition Place
in Toronto, the home of the Major League Soccer
team Toronto FC
, which BMO is also sponsoring. BMO's logo is on the front of their jersey.
On July 23, 2008 it was announced that BMO signed a one-race deal with IndyCar
team Newman/Haas/Lanigan Racing
to appear on the #06 car of Graham Rahal
in the first-ever IRL-sanctioned Canadian IndyCar race at Edmonton.
On June 14, 2011, the Montreal Impact
announced Tuesday they have a five-year agreement with the Bank of Montreal (BMO)
to become lead sponsor and jersey sponsor when they join MLS as an expansion team in 2012.
BMO is a founder and major sponsor of the Siminovitch Prize in Theatre
, an annual award of $100,000 granted to a Canadian director, playwright, or designer.
by purchasing Chicago
's Harris Bank
.
Bank of Montreal shocked the Canadian financial community by announcing plans to merge with RBC
. The Canadian government later blocked the proposed merger. In December 2000, the banks were successful in merging their credit
and debit card
processing services to form Moneris Solutions
.
based employer that employs about 100 people in sales, trading, research, public finance and underwriting, and specializes in municipal bonds, U.S. Treasury and agency debt, and mortgage-backed securities.
's Canadian life insurance business, AIG Life Insurance Company of Canada, for approximately $330 million CAD. The transaction, including 400,000 customers and 300 employees, makes BMO the second-biggest life insurer among Canadian banks. The company was renamed BMO Life Assurance Company.
. The transaction will give BMO exclusive rights to issue Diners cards in the U.S. and Canada. The deal closed in December 2009.
's largest and oldest bank, mainly doing business in Wisconsin, Minnesota, Missouri, Kansas and Arizona, along with the Indianapolis market. On April 5, 2011, bank officers from M&I Bank, Harris Bank, and the Bank of Montreal announced the name of the bank after the merger will be "BMO Harris Bank." Both the current M&I Bank and the current Harris bank will be affected by the name change. Rebranding with the new entity's logo will begin after the merger closing date. The new logo will look similar to BMO's current logo. The difference is the words "Bank of Montreal" will be replaced with "Harris Bank." The merger transaction was completed on July 5, 2011. The name change to "BMO Harris Bank" will take place over a span of 18 months.
(CBA) and registered member with the Canada Deposit Insurance Corporation
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
Big Five banks
Big Five is the name colloquially given to the five largest banks that dominate the banking industry of Canada. The five banks are operationally headquartered in Toronto, Ontario. They are all classified as Schedule I banks that are domestic banks operating in Canada under government charter...
in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson (1755-1831) and eight merchants in a rented house in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
, Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
. On May 19, 1817 the Articles of Association were adopted, making it Canada's oldest bank. BMO's Institution Number (or bank number) is 001.
In Canada, the bank operates as BMO Bank of Montreal and has more than 900 branches, serving over seven million customers. The company also has substantial operations in the Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
area and elsewhere in the United States, where it operates as BMO Harris Bank. BMO Capital Markets
BMO Capital Markets
BMO Capital Markets is a North American financial services provider that offers corporate, institutional and government clients access to a complete range of products and services...
is BMO's investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns
BMO Nesbitt Burns
BMO Nesbitt Burns is a Canadian investment firm. Since its formation in 1912, BMO Nesbitt Burns and its predecessor companies have offered aid to investors in meeting their financial goals. In August 1987 the Bank of Montreal took advantage of new banking regulations to acquire Nesbitt Thomson,...
.
The company is ranked at number 150 on the Forbes Global 2000
Forbes Global 2000
The Forbes Global 2000 is an annual ranking of the top 2000 public companies in the world by Forbes magazine. The ranking is based on a mix of four metrics: sales, profit, assets and market value...
list.
History
The Bank of Montreal was founded in 1817. The Bank of Montreal established branches in Newfoundland on Jan 31, 1895 following the collapse of the Newfoundland Commercial Bank and Union Bank of Newfoundland on Dec 10, 1894.In 1925, it merged with the Molson Bank
Molson Bank
The Molson Bank was a Canadian bank founded in Montreal, Quebec, by brothers William and John Molson, Jr...
. BMO's operational headquarters moved to First Canadian Place
First Canadian Place
First Canadian Place is a skyscraper in the financial district of Toronto, Ontario, Canada, at the northwest corner of King and Bay streets, and is the location of the Toronto headquarters of the Bank of Montreal. At , it is Canada's tallest skyscraper and the 15th tallest building in North America...
on Bay Street
Bay Street
Bay Street, originally known as Bear Street, is a major thoroughfare in Downtown Toronto. It is the centre of Toronto's Financial District and is often used by metonymy to refer to Canada's financial industry since succeeding Montreal's St. James Street in that role in the 1970s...
in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
in 1977, while its legal head office remained in Montreal.
Like the other Canadian chartered banks, it issued its own paper money. BMO issued notes from 1817–1942. The end dates are the final dates appearing on notes, which may have circulated for some time after. The Bank of Canada
Bank of Canada
The Bank of Canada is Canada's central bank and "lender of last resort". The Bank was created by an Act of Parliament on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada...
was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency.
It increased its ownership of the investment firm Nesbitt Thomson, up to 75% on Sep 30, 1987.
Today, the Bank of Montreal commonly goes by the acronym BMO . It is a major international bank with a large number of connections across Canada and around the world.
Architecture
A number of buildings in which Bank of Montreal operates branches are listed on the Registry of Historical Places of Canada. These include:- The Bank of Montreal in Waterloo, OntarioWaterloo, OntarioWaterloo is a city in Southern Ontario, Canada. It is the smallest of the three cities in the Regional Municipality of Waterloo, and is adjacent to the city of Kitchener....
formerly known as the Molson's Bank, by architect Andrew TaylorAndrew Taylor (architect)Sir Andrew Thomas Taylor J.P., R.C.A., F.S.A., F.R.I.B.A. was a British architect and Conservative Party municipal councillor. He was born in Edinburgh, Scotland, and practised architecture in Scotland and London before immigrating to Montreal, Quebec, in 1883, where he designed many of the...
in 1914 - The “Old Bank of Montreal” on 100 Victoria Street East, also known as the “Heritage Court”, Amherst, Nova ScotiaAmherst, Nova ScotiaAmherst is a Canadian town in northwestern Cumberland County, Nova Scotia.Located at the northeast end of the Cumberland Basin, an arm of the Bay of Fundy, Amherst is strategically situated on the eastern boundary of the Tantramar Marshes 3 kilometres east of the interprovincial border with New...
built in 1906 - The Bank of Montreal in WinnipegWinnipegWinnipeg is the capital and largest city of Manitoba, Canada, and is the primary municipality of the Winnipeg Capital Region, with more than half of Manitoba's population. It is located near the longitudinal centre of North America, at the confluence of the Red and Assiniboine Rivers .The name...
, ManitobaManitobaManitoba is a Canadian prairie province with an area of . The province has over 110,000 lakes and has a largely continental climate because of its flat topography. Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy; other...
, constructed in 1927 The Institute for stained glass in Canada has documented the Bank's stained glass. - The Bank of Montreal in Hamilton, OntarioHamilton, OntarioHamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
built in 1928 - The Bank of Montreal in Corner Brook, Newfoundland and LabradorNewfoundland and LabradorNewfoundland and Labrador is the easternmost province of Canada. Situated in the country's Atlantic region, it incorporates the island of Newfoundland and mainland Labrador with a combined area of . As of April 2011, the province's estimated population is 508,400...
built in 1915 - The Bank of Montreal in Delta, British ColumbiaDelta, British ColumbiaDelta is a district municipality in British Columbia, and forms part of Metro Vancouver. Located south of Richmond, it is bordered by the Fraser River to the north, the United States to the south and the city of Surrey to the east...
built in 1919 - The Bank of Montreal in New Westminster, British ColumbiaBritish ColumbiaBritish Columbia is the westernmost of Canada's provinces and is known for its natural beauty, as reflected in its Latin motto, Splendor sine occasu . Its name was chosen by Queen Victoria in 1858...
built in 1947 to 1948 - The Bank of Montreal in OttawaOttawaOttawa is the capital of Canada, the second largest city in the Province of Ontario, and the fourth largest city in the country. The city is located on the south bank of the Ottawa River in the eastern portion of Southern Ontario...
, OntarioOntarioOntario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
built by Andrew Taylor (Architect)Andrew Taylor (architect)Sir Andrew Thomas Taylor J.P., R.C.A., F.S.A., F.R.I.B.A. was a British architect and Conservative Party municipal councillor. He was born in Edinburgh, Scotland, and practised architecture in Scotland and London before immigrating to Montreal, Quebec, in 1883, where he designed many of the...
in 1930 to 1932
A number of branches were designed by Andrew Taylor (Architect)
Andrew Taylor (architect)
Sir Andrew Thomas Taylor J.P., R.C.A., F.S.A., F.R.I.B.A. was a British architect and Conservative Party municipal councillor. He was born in Edinburgh, Scotland, and practised architecture in Scotland and London before immigrating to Montreal, Quebec, in 1883, where he designed many of the...
including
- The Bank of Montreal in West End, Ste. Catherine Street West at Mansfield Street, Montreal 1889
- The Bank of Montreal in Notre Dame Street West Seigneurs Street, Montreal 1894
- The Bank of Montreal in Point St. Charles Branch, Wellington Street at Magdalen Street, Montreal 1901
- The Bank of Montreal, St. Catherine Street West at Papineau Street, 1904 Montreal
- The Bank of Montreal, Perth, OntarioPerth, OntarioPerth is a town in the eastern portion of Southern Ontario, Canada . It is located on the Tay River, 83 km southwest of Ottawa, and is the seat of Lanark County.-History:...
1884 - The Bank of Montreal, Calgary, Alberta, Stephen Avenue at Scarth Street, 1888
- Manager's residence for the Bank of Montreal, Quebec City, Quebec, Grande Allee, 1904
- The Bank of Montreal in Sydney, Nova ScotiaSydney, Nova ScotiaSydney is a Canadian urban community in the province of Nova Scotia. It is situated on the east coast of Cape Breton Island and is administratively part of the Cape Breton Regional Municipality....
(1901); designated by The Cape Breton Regional Municipality as a registered heritage property in 2008.
The Bank of Montreal also constructed a three-storey bank on Saint Jacques Street
Saint Jacques Street
Saint Jacques Street is a major street in Montreal, Quebec, Canada.The street has had two official names: St. James Street in English after St. James's, London; and its current appellation, rue Saint-Jacques, in French. Both names are sometimes used in English, though Saint-Jacques is the most...
in Montreal in 1818. The building was modelled after a Georgian townhouse with a small porch with a classical pediment supported by Doric columns. The Bank of Montreal's operational headquarters is located at First Canadian Place
First Canadian Place
First Canadian Place is a skyscraper in the financial district of Toronto, Ontario, Canada, at the northwest corner of King and Bay streets, and is the location of the Toronto headquarters of the Bank of Montreal. At , it is Canada's tallest skyscraper and the 15th tallest building in North America...
in Toronto, which was designed by Edward Durrell Stone.
Gallery
Image:Toronto - ON - First Canadian Place.jpg|First Canadian Place
First Canadian Place
First Canadian Place is a skyscraper in the financial district of Toronto, Ontario, Canada, at the northwest corner of King and Bay streets, and is the location of the Toronto headquarters of the Bank of Montreal. At , it is Canada's tallest skyscraper and the 15th tallest building in North America...
in 2008
File:Plaque for Bank of Montreal building in Prince Rupert, British Columbia.jpg|Heritage Award plaque for Bank of Montreal building on 3rd Avenue W in Prince Rupert, British Columbia
Prince Rupert, British Columbia
Prince Rupert is a port city in the province of British Columbia, Canada. It is the land, air, and water transportation hub of British Columbia's North Coast, and home to some 12,815 people .-History:...
File:Bank of Montreal building in Prince Rupert, British Columbia.jpg|Bank of Montreal on 3rd Avenue W in Prince Rupert, British Columbia
File:Bank_of_Montreal_branch_with_horse_and_carriage.jpg|Beaux-Arts Bank of Montreal building at Yonge
Yonge Street
Yonge Street is a major arterial route connecting the shores of Lake Ontario in Toronto to Lake Simcoe, a gateway to the Upper Great Lakes. It was formerly listed in the Guinness Book of Records as the longest street in the world at , and the construction of Yonge Street is designated an "Event of...
and Front Street
Front Street (Toronto)
Front Street is an east-west road in downtown Toronto, Ontario, Canada. The street marks the rough outline of the shoreline of Lake Ontario as it existed during the original English settlement of York, then called Palace Street...
in Toronto with horse and carriage, now the Hockey Hall of Fame
Hockey Hall of Fame
The Hockey Hall of Fame is located in Toronto, Ontario, Canada. Dedicated to the history of ice hockey, it is both a museum and a hall of fame. It holds exhibits about players, teams, National Hockey League records, memorabilia and NHL trophies, including the Stanley Cup...
File:Bank of Montreal 1 db.jpg|Bank of Montreal main Montreal branch
File:Bank of Montreal 2 db.jpg|Bank of Montreal main Montreal branch
File:Bank of Montreal 3 db.jpg|Bank of Montreal main Montreal branch
File:Bank of Montreal 4 db.jpg|Bank of Montreal main Montreal branch
File:St James Street, showing Bank of Montreal & Post Office, Montreal.JPG|Bank of Montreal main Montreal branch ca. 1909
File:Harker House - Magrath, Alta.JPG|Bank of Montreal manager's house in Magrath, Alberta
Magrath, Alberta
Magrath is a town in Cardston County, Alberta, Canada. Its 2006 population was 2,081. Magrath is located near the Canadian Rockies and is south of Lethbridge and south of Calgary.- History :...
. Known as the Harker House
Harker House
The Harker House is a historic home located in Magrath. The house was originally built in 1907 for Bank of Montreal managers and is known as the Harker House located at 79 West Harker Avenue...
.
File:BMO Molsons Bank Waterloo.JPG|Waterloo, Ontario
Waterloo, Ontario
Waterloo is a city in Southern Ontario, Canada. It is the smallest of the three cities in the Regional Municipality of Waterloo, and is adjacent to the city of Kitchener....
Molsons Bank Building (BMO Branch) by Andrew Taylor (Architect)
Andrew Taylor (architect)
Sir Andrew Thomas Taylor J.P., R.C.A., F.S.A., F.R.I.B.A. was a British architect and Conservative Party municipal councillor. He was born in Edinburgh, Scotland, and practised architecture in Scotland and London before immigrating to Montreal, Quebec, in 1883, where he designed many of the...
in with Marsland Centre (BMO Data Centre) behind
File:Bank of British North America.JPG|Second Empire Bank of British North America building at the corner of Yonge and Wellington Street in Toronto, now a pub and offices
Mergers
- Commercial Bank of Canada (1868)
- Exchange Bank of YarmouthYarmouth, Nova ScotiaYarmouth is a town and fishing port located on the Gulf of Maine in rural southwestern Nova Scotia, Canada. It is the shire town of Yarmouth County. The town is located in the heart of the world's largest lobster fishing grounds and has Canada's highest lobster catch.- History :The townsite may...
(1903) - People's Bank of HalifaxCity of HalifaxHalifax is a city in Canada, which was the capital of the province of Nova Scotia and shire town of Halifax County. It was the largest city in Atlantic Canada until it was amalgamated into Halifax Regional Municipality in 1996...
(1905) - People's Bank of New BrunswickNew BrunswickNew Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...
(1907) - Bank of British North AmericaBank of British North AmericaThe Bank of British North America was founded in 1835 in London, England with offices in Toronto, Montreal, Quebec City, Saint John, New Brunswick, Halifax and St. John's, Newfoundland. It also operated agencies in New York City and San Francisco. Like the other Canadian chartered banks, it issued...
(1918) - Merchants Bank of Canada (1922), as well as several investment banking firms.
- Molson BankMolson BankThe Molson Bank was a Canadian bank founded in Montreal, Quebec, by brothers William and John Molson, Jr...
(1925) - BCP (Banco Comercial Portugues) in Toronto, Ontario (2006)
- Royal Bank of CanadaRoyal Bank of CanadaThe Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,...
(2000) - Merged merchant credit/debit card acquiring business with BMO Bank of Montreal's to form Moneris SolutionsMoneris SolutionsMoneris Solutions is Canada’s largest processor and acquirer of debit and credit card payments. Moneris was established in December 2000 as a joint investment between RBC Royal Bank and BMO Bank of Montreal. The company is headquartered in Toronto, Ontario and has a contact centre in Sackville,...
.
Founders
The following merchants signed the Articles of Association for the creation of the "Montreal Bank" on June 23, 1817:- Robert ArmourRobert ArmourRobert Armour was a Canadian businessman, militia officer, and office holder. He was one of 10 signators to the Articles of Association for the creation of the "Montreal Bank" on June 23, 1817:- External links :*...
(1781–1857) businessman, militia officer, and office holder - John C. Bush (? - 1859)
- Austin CuvillierAustin CuvillierAustin Cuvillier was a businessman and political figure in Lower Canada and Canada East.He was born Augustin Cuvillier in Quebec City in 1779 and was hired by a Montreal auctioneer, eventually taking over the business when his employer retired. After he formed a partnership with two other men, the...
(1779–1849) - George GardenGeorge GardenGeorge Garden was a Scottish-born businessman and political figure in Lower Canada. He represented Montreal West in the Legislative Assembly of Lower Canada from 1820 to 1824....
(c.1772-1828), director from 1817 to 1826 and vice-president from 1818 to 1822. - Horatio Gates (1777–1834), merchant and banker, President of BMO 1832-1834
- James Leslie (1786–1873); bank director
- George Moffatt (1787–1865); bank director
- John Richardson (c. 1754 - 1831)
- Thomas A. Turner (1775 ? - 1834)
Presidents
- John GrayJohn Gray (banker)John Gray , a Canadian banker, JP and militia officer, was the founder and first president of the Bank of Montreal.-References:...
(1817 to 1820); co-founder and first President - Samuel GerrardSamuel GerrardSamuel Gerrard was a Canadian fur trader, businessman, militia officer, justice of the peace, politician, and seigneur. He was the second president of the Bank of Montreal.-References:...
(1820 to 1826) - Horatio GatesHoratio Gates (businessman)Horatio Gates was a Canadian businessman, office holder, justice of the peace, and politician. He was the third president of the Bank of Montreal.-References:...
(1826); co-founder and President - John MolsonJohn MolsonJohn Molson was an English-speaking Quebecer who was a major brewer and entrepreneur in Canada, starting the Molson Brewing Company.-Birth and early life:...
(1826 to 1834) - Peter McGillPeter McGillPeter McGill was a Scots-Quebecer businessman who served as the second mayor of Montreal, Canada East from 1840 to 1842.- Biography :...
(1834 to 1860) - Thomas Brown AndersonThomas Brown AndersonThomas Brown Anderson was a Canadian merchant, banker, and member of the Special Council of Lower Canada. He was the sixth president of the Bank of Montreal.-References:...
(1860 to 1869) - Edwin Henry KingEdwin Henry KingEdwin Henry King was a Canadian banker.Born in Ireland, King emigrated to Canada in 1850. He was general manager of the Bank of Montreal from 1863 to 1869 and was president of the bank from 1869 to 1873. Historian Oscar Douglas Skelton called him "the most striking figure in Canadian banking...
(1869 to 1873) - David Torrance (1873 to 1876)
- George StephenGeorge Stephen, 1st Baron Mount StephenGeorge Stephen, 1st Baron of Mount Stephen , known as Sir Stephen, between 1778 and 1891.-Canadian Pacific Railway syndicate:...
(1876 to 1881) - C. F. Smithers (1881 to 1887)
- Donald SmithDonald Smith, 1st Baron Strathcona and Mount RoyalSir Donald Alexander Smith, 1st Baron Strathcona and Mount Royal, GCMG, GCVO, PC, DL was a Scottish-born Canadian fur trader, financier, railroad baron and politician.-Early life:...
(1887 to 1905) - George Alexander DrummondGeorge Alexander DrummondSir George Alexander Drummond, KCMG, CVO was a Scottish-Canadian businessman and senator.Born in Edinburgh, Scotland, he arrived in Canada in 1854 to work at Redpath Sugar. He married John Redpath's daughter, becoming a co-director of the family business with Peter Redpath, John's son...
(1905 to 1910) - Richard B. AngusRichard B. AngusRichard Bladworth Angus was a Scottish-Canadian financier, banker and philanthropist.- Early life :Angus was born at Bathgate, West Lothian, Scotland. Educated at Bathgate Academy, as a young man he was employed by the Manchester and Liverpool Bank. By 1857 he had secured a position with the Bank...
(1910 to 1913) - Sir Vincent MeredithVincent MeredithSir Vincent Meredith, 1st and last Baronet of Montreal , was a Canadian banker and philanthropist; President of the Bank of Montreal, the Royal Victoria Hospital, Montreal and the Montreal Museum of Fine Arts...
(1913 to 1927) - Sir Charles Blair Gordon (1927 to 1939)
- Huntly Redpath Drummond (1939 to 1942)
- George Wilbur SpinneyGeorge Wilbur SpinneyGeorge Wilbur Spinney was president of Bank of Montreal from December 1942 until his death in February 1948. He was also chairman of the National War Finance Committee from its inception in 1941 until 1943, when he became honorary chairman....
(1942 to 1948) - B. C. Gardner (1948 to 1952)
- Gordon Ball (1952 to 1959)
- G. Arnold Hart, president from 1959 to 1967 and CEO from 1959 to 1974
- Fred McNeil, CEO from 1975 to 1979
- William D. Mulholland, CEO from 1979 to 1989
- Matthew W. BarrettMatthew BarrettMatthew William Barrett, is an Irish Canadian banker who until 2006 was the Chairman of Barclays Bank.Born in County Kerry, Ireland, he attended the Christian Brothers School in Kells, County Meath, and attended the Harvard Business School Advanced Management Programme in 1981.He started his...
(1987 to 1990) - F. Anthony ComperF. Anthony ComperF. Anthony Comper, CM , known as Tony Comper, is a Canadian banker. He served as president and chief executive officer of Bank of Montreal, which currently operates under the brand BMO Financial Group, and retired from that position on March 1, 2007.He served as Chair of the University of Toronto's...
(1990 to 2007) - Bill DowneBill DowneWilliam A. Downe is a Canadian bank executive. He became president and chief executive officer of Bank of Montreal on March 1, 2007.- Career :...
(from March 1, 2007)
President was for a long time the highest-ranking title in the bank's history, however this was superseded by Chief Executive Officer in the modern era, starting with G. Arnold Hart. Several of his successors as President were CEO as well, however Matthew W. Barrett
Matthew Barrett
Matthew William Barrett, is an Irish Canadian banker who until 2006 was the Chairman of Barclays Bank.Born in County Kerry, Ireland, he attended the Christian Brothers School in Kells, County Meath, and attended the Harvard Business School Advanced Management Programme in 1981.He started his...
was the first top executive not to be styled president.
Chief Executive Officer
In the modern era, the senior officer of Bank of Montreal has been styled President and Chief Executive Officer beginning with G. Arnold Hart. That officer often also held the title Chairman of the Board, until 2003 when a non-executive chairman was appointed.The title of the second-ranking executive has changed several times and has often been left vacant. For instance, F. Anthony Comper
F. Anthony Comper
F. Anthony Comper, CM , known as Tony Comper, is a Canadian banker. He served as president and chief executive officer of Bank of Montreal, which currently operates under the brand BMO Financial Group, and retired from that position on March 1, 2007.He served as Chair of the University of Toronto's...
as the top deputy to Barrett was President and Chief Operating Officer from 1990 to 1999, until he became Chairman and CEO while retaining his title of President. During most of Comper's tenure as CEO, while there was no official "number two" executive, the CEO of BMO Capital Markets
BMO Capital Markets
BMO Capital Markets is a North American financial services provider that offers corporate, institutional and government clients access to a complete range of products and services...
(the investment banking division) was largely considered the second-most powerful officer. Bill Downe
Bill Downe
William A. Downe is a Canadian bank executive. He became president and chief executive officer of Bank of Montreal on March 1, 2007.- Career :...
ascended from CEO of BMO Capital to Chief Operating Officer of the entire group, but held the title only for a transitional period lasting a year until he succeeded Comper as President and CEO in 2007.
(partial list)
- Matthew W. BarrettMatthew BarrettMatthew William Barrett, is an Irish Canadian banker who until 2006 was the Chairman of Barclays Bank.Born in County Kerry, Ireland, he attended the Christian Brothers School in Kells, County Meath, and attended the Harvard Business School Advanced Management Programme in 1981.He started his...
(1990 to 1999) - F. Anthony ComperF. Anthony ComperF. Anthony Comper, CM , known as Tony Comper, is a Canadian banker. He served as president and chief executive officer of Bank of Montreal, which currently operates under the brand BMO Financial Group, and retired from that position on March 1, 2007.He served as Chair of the University of Toronto's...
(1999 to 2007) - Bill DowneBill DowneWilliam A. Downe is a Canadian bank executive. He became president and chief executive officer of Bank of Montreal on March 1, 2007.- Career :...
(from March 1, 2007)
Operations
- Personal and Commercial Client Group (retail bankingRetail bankingRetail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
), including- BMO Bank of Montreal (retail banking in Canada), including BMO's Mosaik MastercardMasterCardMastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
credit cards; BMO Life, a life insurance company; and the former virtual bankVirtual bankA direct bank is a bank without any branch network. It offers its financial services by:* Telephone banking* Online banking* Automated teller machines * Mail banking* Mobile banking...
division mbanxMbanxmbanx is a Canadian virtual bank that has operated as a division of Bank of Montreal since October 1996. "mbanx" was erroneously thought by some to be a new brand name for the entire bank, as BMO focused virtually all its marketing efforts on the new unit during its first few months.Developed at... - Harris BankHarris BankBMO Harris Bank is a subsidiary of Montreal-based Canadian bank Bank of Montreal. Today the bank holding company is formally named BMO Bankcorp, Inc....
(retail banking in the United States, headquartered in Chicago)
- BMO Bank of Montreal (retail banking in Canada), including BMO's Mosaik Mastercard
- Investment Banking Group (known as BMO Capital MarketsBMO Capital MarketsBMO Capital Markets is a North American financial services provider that offers corporate, institutional and government clients access to a complete range of products and services...
) - Private Client Group (wealth management), including
- BMO Nesbitt BurnsBMO Nesbitt BurnsBMO Nesbitt Burns is a Canadian investment firm. Since its formation in 1912, BMO Nesbitt Burns and its predecessor companies have offered aid to investors in meeting their financial goals. In August 1987 the Bank of Montreal took advantage of new banking regulations to acquire Nesbitt Thomson,...
(full service investing in Canada) - BMO InvestorLine (self-service investing in Canada)
- Harris Investor Services (advisory services in the United States)
- BMO Harris Private Banking
- BMO Nesbitt Burns
In October 2008, BMO Financial Group was named one of Greater Toronto's Top Employers
Greater Toronto's Top Employers
Greater Toronto's Top Employers is an annual competition that recognizes the best places to work in the Greater Toronto Area...
by Mediacorp Canada Inc., which was announced by the Toronto Star
Toronto Star
The Toronto Star is Canada's highest-circulation newspaper, based in Toronto, Ontario, Canada. Its print edition is distributed almost entirely within the province of Ontario...
newspaper.
Corporate governance
Current members of the board of directorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of BMO are: Robert Astley, David Beatty, Robert Chevrier, George Cope
George Cope
George A. Cope is the CEO of BCE/Bell Canada, achieving that position aged 47 as part of the thirty five billion dollar leveraged buyout led by Providence Equity and the Ontario Teachers' Pension Fund in 2008. He led a competitor, Telus Mobility, before becoming President at Bell in 2005. He...
, Bill Downe
Bill Downe
William A. Downe is a Canadian bank executive. He became president and chief executive officer of Bank of Montreal on March 1, 2007.- Career :...
, Christine A. Edwards, Ronald Farmer, David A. Galloway
David A. Galloway
David A. Galloway is chairman of the board of Bank of Montreal, which is also known as BMO Financial Group.Born in Toronto, Ontario, he attended the University of Toronto Schools before receiving a Bachelor of Arts in 1966 from the University of Toronto. He received an M.B.A. from Harvard...
, Harold Kvisle, Eva L. Kwok, Bruce Mitchell
Bruce Mitchell
Bruce Mitchell may refer to:* Bruce Mitchell * H. Bruce Mitchell, sometimes known as Bruce M Mitchell, silent films director* Bruce Mitchell * Bruce Mitchell , Anglo-Saxonist...
, Philip Orsino
Philip Orsino
Philip S. Orsino, is a Canadian businessman. He is the former President and Chief Executive Officer of Masonite International Corporation....
, Martha C. Piper, Robert Prichard
Robert Prichard
For the theologian at Virginia Theological Seminary, see Robert Prichard John Robert Stobo Prichard, OC, O.Ont is a Canadian lawyer, economist, and academic.-Academia:...
, Jeremy Reitman, Guylaine Saucier, Don M. Wilson III
Don M. Wilson III
Don M. Wilson III is an American banker and risk management specialist. He was appointed as chief risk officer with JPMorgan Chase in 2003 and retired in2006....
, and Nancy Southern.
Headquarters
Bank of Montreal Head Office, Montreal
The Bank of Montreal's Head Office is located on Saint Jacques Street in Montreal, Quebec, Canada, across the Place d'Armes from Notre-Dame de Montréal Basilica...
in Montreal, located on Saint Jacques Street
Saint Jacques Street
Saint Jacques Street is a major street in Montreal, Quebec, Canada.The street has had two official names: St. James Street in English after St. James's, London; and its current appellation, rue Saint-Jacques, in French. Both names are sometimes used in English, though Saint-Jacques is the most...
. However, the Chairman and President and most senior division executives work out of Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
headquarters at First Canadian Place
First Canadian Place
First Canadian Place is a skyscraper in the financial district of Toronto, Ontario, Canada, at the northwest corner of King and Bay streets, and is the location of the Toronto headquarters of the Bank of Montreal. At , it is Canada's tallest skyscraper and the 15th tallest building in North America...
. Under the direction of the Toronto executive, the Montreal Place d'Armes office oversees the bank's economic (and, to some extent, political) relation with the province of Quebec. This reflects the preponderant place of the Toronto Stock Exchange
Toronto Stock Exchange
Toronto Stock Exchange is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalisation. Based in Canada's largest city, Toronto, it is owned by and operated as a subsidiary of the TMX Group for the trading of senior equities...
and Bay Street
Bay Street
Bay Street, originally known as Bear Street, is a major thoroughfare in Downtown Toronto. It is the centre of Toronto's Financial District and is often used by metonymy to refer to Canada's financial industry since succeeding Montreal's St. James Street in that role in the 1970s...
in the Canadian economy.
Sponsorships
BMO is the sponsor for this season of the Toronto Maple LeafsToronto Maple Leafs
The Toronto Maple Leafs are a professional ice hockey team based in Toronto, Ontario, Canada. They are members of the Northeast Division of the Eastern Conference of the National Hockey League...
, Toronto FC
Toronto FC
Toronto FC is a Canadian professional soccer club based in Toronto, Ontario which competes in Major League Soccer , the top professional soccer league in the United States and Canada....
and the Toronto Raptors
Toronto Raptors
The Toronto Raptors are a professional basketball team based in Toronto, Ontario, Canada. They are part of the Atlantic Division of the Eastern Conference in the National Basketball Association . The team was established in 1995, along with the Vancouver Grizzlies, as part of the NBA's re-expansion...
.
BMO Bank of Montreal is the current title sponsor for the marathon
Marathon
The marathon is a long-distance running event with an official distance of 42.195 kilometres , that is usually run as a road race...
race for the Vancouver International Marathon Society held each year in May. The current name is "BMO Bank of Montreal Vancouver Marathon
Vancouver Marathon
The BMO Vancouver Marathon is an annual race held on the first Sunday of May each year in Vancouver, British Columbia, Canada . As the 2nd largest international marathon event in Canada, it has a certified running distance of 26 miles and 385 yards long. The most recent marathon saw over 14,000...
".
Bank of Montreal is also a major sponsor of Skate Canada, and is the title sponsor of the BMO Financial Group Canadian Championships
Canadian Figure Skating Championships
The Canadian Figure Skating Championships is a figure skating competition held annually to crown the national champions of Canada. It is organized by Skate Canada, the nation's figure skating governing body. The levels of the competition are senior and junior; in some years, the novice level has...
, BMO Financial Group Skate Canada Junior Nationals, BMO Financial Group Skate Canada Challenges, BMO Financial Group Skate Canada Sectionals, and BMO Financial Group Skate Canada Synchronized Championships. It is also the presenting sponsor of the CanSkate Learn-to-Skate Program.
BMO purchased the naming rights to the national soccer stadium (BMO Field
BMO Field
BMO Field is a Canadian soccer stadium located in Exhibition Place in the city of Toronto. The open-air structure can seat up to 21,800 spectators, depending on seating configurations. It is owned by the City of Toronto, and managed by Maple Leaf Sports & Entertainment Ltd...
) at Exhibition Place
Exhibition Place
Exhibition Place is a mixed-use district in Toronto, Ontario, Canada, by the shoreline of Lake Ontario, just west of downtown. The 197–acre area includes expo, trade, and banquet centres, theatre and music buildings, monuments, parkland, sports facilities, and a number of civic, provincial,...
in Toronto, the home of the Major League Soccer
Major League Soccer
Major League Soccer is a professional soccer league based in the United States and sanctioned by the United States Soccer Federation . The league is composed of 19 teams — 16 in the U.S. and 3 in Canada...
team Toronto FC
Toronto FC
Toronto FC is a Canadian professional soccer club based in Toronto, Ontario which competes in Major League Soccer , the top professional soccer league in the United States and Canada....
, which BMO is also sponsoring. BMO's logo is on the front of their jersey.
On July 23, 2008 it was announced that BMO signed a one-race deal with IndyCar
IndyCar Series
The IZOD IndyCar Series is the premier level of American open wheel racing. The current championship, founded by Indianapolis Motor Speedway owner Tony George, began in 1996 as a competitor to CART known as the Indy Racing League . Citing CART's increasing reliance on expensive machinery and...
team Newman/Haas/Lanigan Racing
Newman/Haas/Lanigan Racing
Newman/Haas Racing was a motor racing team competing in the IndyCar Series. The team operations were based in Lincolnshire, Illinois. Newman/Haas Racing was formed when actor Paul Newman and long-time racer Carl Haas, competitors in the Can-Am championship, each began looking to Champ Car racing...
to appear on the #06 car of Graham Rahal
Graham Rahal
Graham Rahal is an American race car driver. He currently participates in the IZOD IndyCar Series. He is the son of 1986 Indianapolis 500 winner Bobby Rahal.-Early racing:...
in the first-ever IRL-sanctioned Canadian IndyCar race at Edmonton.
On June 14, 2011, the Montreal Impact
Montreal Impact
Montreal Impact was a Canadian professional soccer club based in Montreal, Quebec, Canada. Founded in 1992, the team played in the North American Soccer League , the second tier of the American Soccer Pyramid until the 2011 season. The owner Joey Saputo now operates the MLS team Montreal ImpactThe...
announced Tuesday they have a five-year agreement with the Bank of Montreal (BMO)
Bank of Montreal
The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
to become lead sponsor and jersey sponsor when they join MLS as an expansion team in 2012.
BMO is a founder and major sponsor of the Siminovitch Prize in Theatre
Siminovitch Prize in Theatre
The Siminovitch Prize in Theatre is given to recognize achievement in Canadian theatre; specifically, professional directors, playwrights and designers in three-year cycles...
, an annual award of $100,000 granted to a Canadian director, playwright, or designer.
Purchase of Harris Bankcorp (1984)
In 1984 the bank greatly expanded its operations in the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
by purchasing Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
's Harris Bank
Harris Bank
BMO Harris Bank is a subsidiary of Montreal-based Canadian bank Bank of Montreal. Today the bank holding company is formally named BMO Bankcorp, Inc....
.
Proposed merger with RBC (1998)
In 19981998 in Canada
Events from the year 1998 in Canada.-January to March:*January 1 - Toronto and six other communities are merged to form a new megacity. The next day Mel Lastman is sworn in as its first mayor...
Bank of Montreal shocked the Canadian financial community by announcing plans to merge with RBC
Royal Bank of Canada
The Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,...
. The Canadian government later blocked the proposed merger. In December 2000, the banks were successful in merging their credit
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
and debit card
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
processing services to form Moneris Solutions
Moneris Solutions
Moneris Solutions is Canada’s largest processor and acquirer of debit and credit card payments. Moneris was established in December 2000 as a joint investment between RBC Royal Bank and BMO Bank of Montreal. The company is headquartered in Toronto, Ontario and has a contact centre in Sackville,...
.
Purchase of BCPBank Canada (2006)
In 2006, BMO bought out BCPBank (Banco Comercial Portugues), a Schedule C financial institution consisting of about 6 branches in the Toronto-West area headquartered in Portugal.Purchase of GKST Inc (2008)
In 2008 Bank of Montreal bought Griffin, Kubik, Stephans, and Thompson. GKST was a ChicagoChicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
based employer that employs about 100 people in sales, trading, research, public finance and underwriting, and specializes in municipal bonds, U.S. Treasury and agency debt, and mortgage-backed securities.
Purchase of AIG Life Insurance Company of Canada (2009)
In 2009, the Bank purchased AIGAIG
AIG is American International Group, a major American insurance corporation.AIG may also refer to:* And-inverter graph, a concept in computer theory* Answers in Genesis, a creationist organization in the U.S.* Arta Industrial Group in Iran...
's Canadian life insurance business, AIG Life Insurance Company of Canada, for approximately $330 million CAD. The transaction, including 400,000 customers and 300 employees, makes BMO the second-biggest life insurer among Canadian banks. The company was renamed BMO Life Assurance Company.
Purchase of Diners Club International Franchise (2009)
In November 2009, Bank of Montreal announced the purchase of Diners Club International's North American franchise from CitibankCitibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
. The transaction will give BMO exclusive rights to issue Diners cards in the U.S. and Canada. The deal closed in December 2009.
Purchase of Marshall & Ilsley Corporation (2010)
In mid December 2010, BMO announced its purchase of Milwaukee-based Marshall & Ilsley Corporation, which does business as M&I Bank, WisconsinWisconsin
Wisconsin is a U.S. state located in the north-central United States and is part of the Midwest. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. Wisconsin's capital is...
's largest and oldest bank, mainly doing business in Wisconsin, Minnesota, Missouri, Kansas and Arizona, along with the Indianapolis market. On April 5, 2011, bank officers from M&I Bank, Harris Bank, and the Bank of Montreal announced the name of the bank after the merger will be "BMO Harris Bank." Both the current M&I Bank and the current Harris bank will be affected by the name change. Rebranding with the new entity's logo will begin after the merger closing date. The new logo will look similar to BMO's current logo. The difference is the words "Bank of Montreal" will be replaced with "Harris Bank." The merger transaction was completed on July 5, 2011. The name change to "BMO Harris Bank" will take place over a span of 18 months.
Purchase of Lloyd George (2011)
In January 2011, BMO announced its purchased Hong Kong based Lloyd George Management. Lloyd George has $6 Billion under management with offices in Hong Kong, London, Singapore, Mumbai and Florida.Membership
BMO is a member of the Canadian Bankers AssociationCanadian Bankers Association
The Canadian Bankers Association is a financial lobbying group that works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA was organized in Montreal in 1891, making it one of Canada’s oldest interest...
(CBA) and registered member with the Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation
-External links:*** Official CDIC site*...
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
- InteracInteracInterac Association is a Canadian organization linking enterprises that have proprietary networks so that they may communicate with each other for the purpose of exchanging electronic financial transactions. The Association was founded in 1984 as a cooperative venture between five financial...
- MasterCardMasterCardMastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
International - Cirrus Network for MasterCard card users
- Air MilesAir MilesAir Miles is the name of separately operated loyalty programs in Canada, the United Kingdom, Spain , the Netherlands and the Middle East, through which points are earned on purchases at participating merchants.-History:...
Further reading
- Denison, Merrill, 1893–1975. Canada's first bank : a history of the Bank of Montreal. Toronto: McClelland and Stewart, c1966. 2 v. : ill., maps, ports., (some folded, some col). ; 25 cm.
- Nolin-Raynauld, Michelle, 1926–. The Bank of Montreal building on Place d'Armes, 1845–1901 / Michelle Nolin-Raynauld ; foreword by Jean Bélisle ; translated by Judith Berman. Montreal : Varia Press, c1999. 143 p. : facsm., ill., plans ; 23 cm. Originally presented as the author's thesis (master—Université de Montréal), 1984, under the title: L'architecture de la Banque de Montréal à la Place d'Armes. Translation of: L'édifice de la Banque de Montréal à la Place d'Armes, 1845–1901. ISBN 2922245128
- BMO Financial Group Corporate Archives, Montreal
- Rupert Canadian Investment Bank Review McGraw-Hill Ryerson, Limited 1992
Official sites
Other sites
- BMO stock quote from TSX