Bank of Montreal
The Bank of Montreal (French: Banque de Montréal), abbreviated as BMO (pronounced /ˈbiːmoʊ/), is a Canadian multinational investment bank and financial services company.
This article is about the Canadian bank. For its subsidiary in the United States, see BMO (United States).
BMO Bank of Montreal
BMO Financial Group (US)
Banque de Montréal
Montreal Bank (1817–1822)
TSX: BMO
NYSE: BMO
S&P/TSX 60 component
- Montreal Bank (23 June 1817)
Montreal, Lower Canada - Bank of Montreal (22 July 1822)
- Bank of Montreal Head Office, Montreal, Quebec, Canada (formal headquarters)
- First Canadian Place, Toronto, Ontario, Canada (operating headquarters)[1]
- George Cope (Chair)
- Darryl White (CEO)
- Tayfun Tuzun (CFO)[2]
Can$4.37 billion (2023)[3]
Can$333 billion (2023)[3]
Can$1.29 trillion (2023)[4]
Can$77.0 billion (2023)[3]
55,767 (FTE, 2023)[3]
BMO Capital Markets
BMO Bank, N.A.
BMO Nesbitt Burns
Moneris
Diners Club International (North America Operations)
Clearpool Group
Lloyd George Management
LGM Investments
AIG Life Insurance Company of Canada
Radicle Group
Air Miles
The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank,[5] making it Canada's oldest bank.[6] In 2023, the company’s seat in Forbes Global 2000 was 84.[7] Its head office is in Montreal and its operational headquarters and executive offices are located in Toronto, Ontario, since 1977. It is commonly known by its ticker symbol BMO on both the Toronto Stock Exchange and the New York Stock Exchange.[8] In April 2024, it had CA$1.37 trillion in total assets.[4] The Bank of Montreal swift code is BOFMCAM2 and the institution number is 001.[9] In Canada, BMO has more than 900 branches and more than 1000 in the United States, serving over 13 million customers globally.[3]
In the United States, BMO does business as BMO Financial Group, where it has substantial operations in the Chicago area and elsewhere in the country, where it operates BMO Bank, N.A.. BMO Capital Markets is BMO's investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns. On 12 December 2021, the Bank of Montreal announced the strategic acquisition of Bank of the West from BNP Paribas for US$16.3 billion.[10]
History[edit]
19th century[edit]
The bank was established on 23 June 1817[11] when a group of merchants signed the Articles of Association, formally creating the "Montreal Bank".[5] The signors of the document include Robert Armour, John C. Bush, Austin Cuvillier, George Garden, Horatio Gates, James Leslie, George Moffatt, John Richardson, and Thomas A. Turner. The bank was first located in rooms rented on Rue Saint-Paul, Montreal, before moving to its permanent building on Rue Saint-Paul in 1818. In the same year, the bank opened its first branch in Quebec City; and several offices in Upper Canada, including Amherstburg, Kingston, Perth, and York (present day Toronto). The bank also opened its first foreign permanent office in 1818, opening an office in Willam Street in New York City.[12]
Notable buildings[edit]
Historic branches[edit]
A number of buildings in which Bank of Montreal presently operates branches have been designated by municipal, provincial, and/or federal levels of government as being of historic importance. These include: