Bank of Montreal
The Bank of Montreal
, also known as BMO
, is the fourth largest bank in Canada
. It is a historical icon, that was founded in 1817-making it the oldest bank in Canada
. On June 23, 1817, the founding merchants signed the Articles of Association, and this was the beginning of the Montreal
Bank. There were 9 founding merchants-each holding positions of bank directors to businessmen. John Gray was the first president of BMO in 1817.
The banking industry
is a global arena. The economies of each country have an impact on each other. Today the Bank of Montreal is an international giant, with connections all over the world. It has more than 900 branches to serve its customers. Some of the main branches are throughout the United States, such as Harris Bank in Chicago, IL. The operational headquarters of BMO is located in Toronto
. The merger history of Bank of Montreal is an exciting one. It has acquired other Canadian banks
-Commercial Bank of Canada, People's Bank of Halifax and New Brunswick, and Molson Bank. More recent mergers have been AIG Life Insurance of Canada, and the Diner's Club International Franchise from Citibank.
The services offered to clients and customers of BMO are diverse. Each client service is divided into three categories. First, is "Retail Banking", which is a service for personal and commercial clients; Second, is the "Investment Banking", which services all capital markets of BMO; Third, is a "Private Client Group", where wealth management is the main service.
The Bank of Montreal has services for personal banking, small business
, commercial, and corporate/institutional. For personal banking, the Bank of Montreal can assist with selecting the right type of account with the most beneficial features. They offer lines of credit, financial planning, self-directed investing
, mortgages, and credit cards
. For small business, BMO has specialized banking, business accounts and plans, and commercial mortgages. For commercial clients, the Bank of Montreal services include business accounts, cash management, and investing. Corporate or institutional banking customers can receive advisory services, capital raising, treasury services, market risk management, and institutional investing services.
Canadian customers can reach to the Bank of Montreal for services like these and find quality and informative assistance to guide them through many different types of financial decisions. BMO is able to provide guidelines for clients who need to set up online accounts, plan budgets, track business expenses, search investment strategies, plan new business start-up, or answer any questions regarding a client's financial
future-personal or business.