All About Bank of Montreal
The Bank of Montreal is Canada's oldest chartered bank opened in Montreal, Quebec on November 3, 1817. The which served as Canada's central bank until the creation of the Bank of Canada in 1935 played a major role in the development of the country, taking part in the financing of the first transcontinental railway in 1880. Being first Canadian bank to open a branch abroad, Bank of Montreal is today a major international bank with 1,100 branches across Canada and around the world.
BOM is divided into three client groups which serve different markets:
1) Personal and Commercial Client Group: which includes BMO Bank of Montreal and Harris Bank.
2) Investment Banking Group:
3) Private Client Group: which includes BMO Nesbitt Burns, BMO InvestorLine, Harris Investor Services and Harris Private Bank.
In 1995, relaxed foreign ownership rules led Bank of Montreal to become the first Canadian bank to obtain a listing on the New York Stock Exchange. Recently the bank has also moved into electronic banking with the establishment of a virtual subsidiary, Mbanx which provides retail banking services to consumers electronically, by phone and over the Internet.
In its long run has merged with or acquired several other Canadian banks like Commercial Bank of Canada, Exchange Bank of Yarmouth, People's Bank of Halifax, People's Bank of New Brunswick, Bank of British North America, Merchants Bank of Canada and The Molson Bank.
