Bank of Montreal

Short description: Canadian financial services company

Bank of Montreal
Banque de Montréal

Operating headquarters in Toronto, Canada

Trade name

| BMO Bank of Montreal
BMO Financial Group (US)

Native name

| Banque de Montréal
Formerly| Montreal Bank (1817–1822)
Type| Public

Traded as

| TSX: BMO
NYSE: BMO
S&P/TSX 60 component
Industry| Financial services
Founded|

* Montreal Bank (23 June 1817; 206 years ago (1817-06-23))
Montreal , Lower Canada
* Bank of Montreal (22 July 1822; 201 years ago (1822-07-22))

Headquarters|

* Bank of Montreal Head Office, Montreal , Quebec, Canada (formal headquarters)
* First Canadian Place, Toronto, Ontario, Canada (operating headquarters)[1]

Key people

* George Cope (Chair)
* Darryl White (CEO)
* Tayfun Tuzun (CFO)[2]

Services|

* Retail banking
* Commercial bank
* Capital markets
* Wealth management

Revenue|  Can$31.2 billion (2023)[3]

Net income

|  Can$4.37 billion (2023)[3]
AUM|  Can$333 billion (2023)[3]
Total assets|  Can$1.29 trillion (2023)[4]
Total equity|  Can$77.0 billion (2023)[3]

Number of employees

| 55,767 (FTE, 2023)[3]
Subsidiaries| 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
Website| bmo.com

The Bank of Montreal (BMO, pronounced /ˈbiːmoʊ/; French: Banque de Montréal) is a Canadian multinational investment bank and financial services company.

The bank was founded in Montreal , Quebec, in 1817 as Montreal Bank,[5] making it Canada's oldest bank.[6] 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.[7] In June 2023, it had CA$1.251 Trillion in total assets.[4] The Bank of Montreal swift code is BOFMCAM2 and the institution number is 001.[8] In Canada, it has more than 800 branches, serving over seven million customers.[9]

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]

## Contents

* 1 History
* 1.1 19th century
* 1.2 20th century
* 1.3 21st century
* 2 Corporate information
* 2.1 Operations
* 2.2 Governance
* 2.3 Credit ratings
* 3 Notable buildings
* 3.1 Historic branches
* 3.2 Headquarters
* 4 Sponsorships
* 5 Membership
* 6 See also
* 7 References
* 8 Further reading
* 9 External links

## History

### 19th century

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]

Austin Cuvillier co-founded BMO with nine other businessmen in June 1817.

By 1822, the bank converted from the status it had held since its founding as a private company owned by a small group of people into a public company owned by 144. At this time, it became officially known by its current name.[13]

Bank of Montreal on an 1844 Province of Canada Token.

Expansion into Upper Canada was halted in 1824, after legislation from the Parliament of Upper Canada forbade bank branches whose head offices were not based in Upper Canada from operating.[14] In 1838, the bank reentered the Upper Canadian market with the purchase of the Bank of the People, a bank based in Toronto.[14] BMO was permitted to open its own branches in the area, after Upper Canada and Lower Canada were united to create the Province of Canada in 1841.[14] Shortly after the two colonies merged, the bank opened branches into Cobourg, Belleville, Brockville, and Ottawa.[14]

Expansion into the Maritimes and Western Canada was facilitated following Canadian Confederation. In 1877, the bank opened its first branch in Western Canada, with the opening of a branch in Winnipeg. New branches were also opened in the Maritimes, in Halifax, Moncton, and Saint John completed shortly after Confederation. The Bank of Montreal established branches in Newfoundland Colony on 31 January 1895, at the behest of the colonial government. The colonial government of Newfoundland made the request to the Bank of Montreal four days after the collapse of the Commercial Bank and Union Bank of Newfoundland on 10 December 1894.[15]

### 20th century

By 1907, the bank had branches in every province of Atlantic Canada, with the opening of a branch in Charlottetown.[14] Expansion into the Maritimes was further facilitated with the acquisition of the Exchange Bank of Yarmouth in 1903, the People's Bank of Halifax in 1905, and the People's Bank of New Brunswick in 1906.[14]

The early 20th century also saw the bank acquire several financial institutions that helped increase its presence in Newfoundland, and areas west of Quebec, including the Ontario Bank in 1906, the Bank of British North America in 1918, and the Merchants Bank of Canada in 1921.[14] During this period, the bank also acquired the Montreal-based Molson Bank in 1925.[14]

$5 BMO banknote, from 1942. The year was the last that the bank issued its own banknotes for circulation.

In 1942, the bank ended production of its own bank notes, which were in circulation in Canada since 1871. By 1944, the central bank of the country, the Bank of Canada became the sole issuer of currency in Canada, and notes from private banks were withdrawn.[16]

In 1960, the Bank of Montreal moved its operational headquarters to a seventeen-storey structure next to its historic head office.[14][17] The building served as the bank's operational headquarters until 1977, when it was moved to First Canadian Place on Bay Street in Toronto in 1977.[18] The structure was named after the bank's slogan at the time, The First Canadian Bank,[19] which was introduced in 1969, and was prominent in much of the bank's advertising during the 1970's, most notably in television commercials featuring Canadian actor Leslie Nielsen.[19] The bank's present "M-Bar" logo was also introduced during this time, in 1967.[19] However, the bank's legal headquarters remains at the historic Montreal head office, with First Canadian Place formally listed as the "executive office" of the bank.[1]

The original building at Place d'Armes in Montreal , Canada remains the bank's legal headquarters

In 1984, the bank acquired Chicago-based Harris Bank (through its parent, Harris Bankcorp), later rebranded as BMO Harris Bank.[20] In 1987, the bank acquired stock brokerage Nesbitt, Thomson and Company. Several years later, the bank assumed control of two retail branches formerly belonging to the Standard Chartered Bank of Canada.

In 1994, the Bank of Montreal became the first Canadian bank to be listed on the New York Stock Exchange.[14] In 1995, the bank opened its first branch in Guangzhou, formally receiving a license to operate the branch on 20 November 1996.[21] In doing so the bank became the first Canadian bank to receive a license to operate in China.[14][21] During the 1990s, BMO acquired a number of other banks in the Chicago area, merging them under the Harris Bank name, including Suburban Bancorp in 1994; and Household Bank in 1999.

In 1998, the Bank of Montreal and the Royal Bank of Canada announced they had agreed to a merger pending approval from the government. Government regulators later blocked the proposed merger, along with a similar proposal by the Toronto-Dominion Bank to merge with the Canadian Imperial Bank of Commerce.[22] Although the banks did not merge, in 2000, the Bank of Montreal, together with the Royal Bank of Canada, merged their merchant payment processor businesses to form Moneris Solutions.[23]

### 21st century

In 2006, BMO bought BCPBank, a Schedule C financial institution that was the Canadian division of Banco Comercial Português.[24] In 2008, a Bank of Montreal trader pleaded guilty to intentionally mismarking his trading book in order to increase his bonus from the bank.[25][26]

In 2009, BMO purchased AIG's Canadian life insurance business, AIG Life Insurance Company of Canada (400,000 customers and 300 employees), for approximately CA$330 million, making BMO the second-biggest life insurer among Canadian banks. The new component was renamed BMO Life Assurance Company.[27] In the same year, the Bank of Montreal acquired the Diners Club International's North American franchise from Citibank. The transaction gave BMO exclusive rights to issue Diners cards in the US and Canada.[28]

Footprint of Milwaukee-based bank Marshall & Ilsley prior to its acquisition by the Bank of Montreal in 2010.

In October 2010, the bank became the first Canadian bank to incorporate in China, with branches in China operating as BMO ChinaCo.[29] In December 2010, BMO announced the purchase of Milwaukee-based Marshall & Ilsley, and was later amalgamated with its Harris Bank operations.[30] When the transaction completed, M&I Bank, along with current Harris Bank branches were rebranded BMO Harris Bank.[31] In 2014, the bank acquired London-based Foreign & Colonial Investment Trust, later re-branding it as BMO Commercial Property Trust in 2019.[32] In September 2015, BMO agreed to acquire General Electric Co. subsidiary GE Capital's transportation-finance unit. The business acquired has US$8.7 billion (CA$11.5 billion) of assets, 600 employees and 15 offices in the US and Canada.[33]

BMO and Simplii Financial (a subsidiary of the Canadian Imperial Bank of Commerce) were the targets of hackers in May 2018, who claimed to have compromised the systems of both banks and stolen information on a combined 90,000 customers (50,000 from BMO).[34] An email sent from a Russian address and attributed to the hackers demanded a ransom of US$1 million from each company paid via Ripple by 11:59 pm on 28 May 2018 or the information would be released on "fraud forum [sic] and fraud community [sic]".[35]

In 2018, BMO went into the marijuana sector with a $175 million deal for a stake in a producer. It was the first investment in the sector by a "Big Five Canadian bank".[36] In January 2018, the bank was accused in a lawsuit along with five other Canadian banks for "conspiring to rig a Canadian rate benchmark to improve profits from derivatives trading".[37]

After resigning from the Canadian Liberal cabinet, Scott Brison was hired by the bank as its vice-chair of investment and corporate banking in February 2019.[38] In February 2019, it became reported that its US retail profits had surged.[39] The bank moved its New York City headquarters in April 2019, to a former Conde Nast building.[40] That month, the bank's Irish subsidiary was fined several million for a license breach.[41] To settle charges by the SEC that it hid conflicts of interest from clients in 2016, in September 2019 the Bank of Montreal's two units in Chicago paid $38 million.[42] In December 2019, the bank cut 2,300 jobs, after a drop in quarterly earnings, effecting around five percent of the workforce.[43][44][45]

The company had plans to "double indigenous lending" in September 2019.[46] There was controversy and protests[47] in January 2020 after a12-year-old First Nations girl and her grandfather were handcuffed by police at a Vancouver branch of the bank following an identification discrepancy.[48] The Vancouver mayor criticized the bank for what he termed giving false information to the police.[49] The police were afterwards investigated.[50] A human rights claim was later filed in response to the incident.[51] A settlement was eventually reached, which included an undisclosed monetary payment to the victims, an apology ceremony in Bella Bella, territorial acknowledgement plaques installed at certain branches and BMO updating internal policies and procedures for how status cards are handled.[52] After the incident, BMO launched an Indigenous Advisory Council with Indigenous members from a number of provinces.[53][54]

The CEO of the bank argued against fossil fuel divestment in March 2020, after it "acquired $3 billion of energy loans from Deutsche Bank DBKGn.DE in 2018".[55] In 2021, BMO signed the UN Principles for Responsible Banking (PRB) with the goal to reach global net-zero climate targets as well as net-zero financed emissions in their lending by 2050.[56][57] In July 2022, BMO acquired Calgary-based Radicle Group Inc., an adviser to companies on sustainability and measuring carbon emissions.[58]

In December 2021, BMO agreed to acquire San Francisco-based Bank of the West from BNP Paribas, with the intent of merging it with BMO Harris Bank, which would at least double BMO's total presence in the United States.[59][60] BMO's acquisition of Bank of the West was completed in February 2023, and the Bank of the West brand is planned to be absorbed into the BMO brand by September 2023.[61]

## Corporate information

The head office for BMO USA, a Chicago -based subsidiary of BMO.

### Operations

BMO is divided into three "client groups" which serve different markets. Each of the client groups operates under multiple brand names.

* Personal and Commercial Client Group (retail banking), including
* BMO Bank of Montreal (commercial and retail banking in Canada), including BMO's MasterCard credit cards; BMO Life, a life insurance company; and the former virtual bank division mbanx
* BMO USA (commercial and retail banking in the United States, headquartered in Chicago)
* Investment Banking Group (known as BMO Capital Markets)
* Private Client Group (wealth management), including
* BMO Nesbitt Burns (full service investing in Canada): formed following 1987 acquisition of Nesbitt Thomson, then one of Canada's oldest investment houses, and the 1994 acquisition of Burns Fry, a dealer of Canadian equities and debt securities. Nesbitt Thomson and Burns Fry then merged to become BMO Nesbitt Burns.[62]
* BMO InvestorLine (self-service investing in Canada)
* BMO Harris Investor Services (advisory services in the United States)
* BMO Private Banking (private banking in Canada and the United States) including Harris myCFO and Cedar Street Advisors (both affiliates of BMO Harris Bank) In 2014–2015 BMO rebranded BMO Harris Private Bank as BMO Private Bank.

In October 2008, Mediacorp Canada Inc. named BMO Financial Group one of Greater Toronto's Top Employers.[63] Notable Employees of the Month include Penche Scurtis. [citation needed]

### Governance

List of Presidents

* John Gray (1817 to 1820); co-founder and first president
* Samuel Gerrard (1820 to 1826)
* Horatio Gates (1826); co-founder and president
* John Molson (1826 to 1834)
* Peter McGill (1834 to 1860)
* Thomas Brown Anderson (1860 to 1869)
* Edwin Henry King (1869 to 1873)
* David Torrance (1873 to 1876)
* George Stephen (1876 to 1881)
* C. F. Smithers (1881 to 1887)
* Donald Smith (1887 to 1905)
* George Alexander Drummond (1905 to 1910)
* Richard B. Angus (1910 to 1913)
* Sir Vincent Meredith (1913 to 1927)
* Sir Charles Blair Gordon (1927 to 1939)
* Huntly Redpath Drummond (1939 to 1942)
* George Wilbur Spinney (1942 to 1948)
* Bertie Charles Gardner (1948 to 1952)
* Gordon Ball (1952 to 1959)
* G. Arnold Hart (from 1959 to 1967)
* William E. Bradford (president 1981-1983)
* Matthew W. Barrett (1987 to 1990)
* F. Anthony Comper (CEO from 1999 to 2007)
* Bill Downe (from 2007 to 2017)

List of CEOs

* Matthew W. Barrett (1990 to 1999)
* F. Anthony Comper (1999 to 2007)
* Bill Downe (2007 to 2017)
* Darryl White (Since 2017)

### Credit ratings

Rating agency Moody's Investors Service began to review the long-term ratings of the Bank of Montreal and other Canadian banks because of concerns about consumer debt levels, housing prices, and a sizable exposure to capital markets in October 2012. In January 2013, the service announced downgrades for Bank of Montreal and five others.[64]

## Notable buildings

### Historic branches

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:

A Bank of Montreal branch in Hamilton. Erected in 1928, the building is presently recognized under the Ontario Heritage Act.

* The Bank of Montreal, 4896 Delta Street, Delta, British Columbia (1919)[65]
* The Bank of Montreal, 511 Columbia Street, New Westminster, British Columbia (1947–1948)[66]
* The Bank of Montreal, 322 Curling Street, Corner Brook, Newfoundland and Labrador (1915)[67]
* The Bank of Montreal, 426 Portage Avenue, Winnipeg, Manitoba (1927)[68]
* The "Old Bank of Montreal", 100 Victoria Street East, Amherst, Nova Scotia (1906)[69]
* The Bank of Montreal, 1 Main Street West, Hamilton, Ontario (1928)[70]
* The Bank of Montreal, 144 Wellington Street, Ottawa, Ontario built by Ernest Barott of Barott and Blackader, architects, of Montreal[71][72]
* The Bank of Montreal, 3 King Street, Waterloo, Ontario, formerly known as the Molson's Bank, by architect Andrew Taylor (1914)[73]

A number of late-19th century Bank of Montreal branches were also built by British architect, Andrew Taylor. Taylor designed a three-storey structure for the Bank of Montreal on Saint Jacques Street in Montreal. The building was modelled after a Georgian townhouse with a small portico of Corinthian columns supporting a classical pediment and remains the bank's legal headquarters.[74]

* 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, Montreal (1904)
* The Bank of Montreal, Perth, Ontario (1884)
* The Bank of Montreal, Calgary, Alberta, Stephen Avenue at Scarth Street [now 1 Street SW] (1888)
* Manager's residence for the Bank of Montreal, Grande Allée, Quebec City, Quebec (1904)
* The Bank of Montreal in Sydney, Nova Scotia; designated by The Cape Breton Regional Municipality as a registered heritage property in 2008, (1901)

A former BMO branch on Front and Yonge Street, now houses the Hockey Hall of Fame.

Buildings that formerly housed a branch of the bank have also seen later notable use. A branch in Montreal has been designated as a National Historic Site of Canada in 1990. The building was completed in 1894, and was designated as a historic site as a good example of Queen Anne Revival architecture. Another former Bank of Montreal branch on Front and Yonge Streets in Toronto has housed the Hockey Hall of Fame since 1993. The 1885 Beaux-Arts styled building designed by the Toronto firm of Darling & Curry.[75]

### Headquarters

Completed in 1847, the Bank of Montreal Head Office is formally located in Montreal, on Saint Jacques Street. However in 1960, the operational headquarters was moved to a 17-storey tower adjacent the historic head office building.[14][17] In 1977, the bank's operational headquarters or "executive office",[1] was moved to First Canadian Place in Toronto, with the chairman, president, and some senior executives working from First Canadian Place.[1][18] The structure's was named after a historic slogan of the bank, the First Canadian Bank,[19] a slogan introduced in 1969.[19]

## Sponsorships

The bank 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.[76]

The bank has been the jersey sponsor for MLS's CF Montréal since 2012.

The bank has been a sponsor of the Toronto FC of Major League Soccer since 2007[77] and of its home stadium named BMO Field at Exhibition Place.[78] In 2010, BMO extended its agreement with the Toronto FC through the 2016 season.[79] The bank is also a sponsor of the CF Montréal, announcing a five-year agreement to become lead sponsor and jersey sponsor on 14 June 2011.[80] In addition, the bank is a sponsor of Los Angeles FC, with their stadium being named BMO Stadium since 2023.[81]

From at least 2007 through 2011, BMO was the sponsor for the Toronto Maple Leafs and the Toronto Raptors.[82] In July 2008, BMO announced a one-year sponsorship of IndyCar team Newman/Haas/Lanigan Racing to appear on the No. 06 car of Graham Rahal in the first-ever IRL-sanctioned Canadian IndyCar race at Edmonton.[83]

Since 1997, Bank of Montreal has been 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.[84]

In 2005, BMO Bank of Montreal became the title sponsor for the annual May marathon race staged by the Vancouver International Marathon Society. The current name is "BMO Bank of Montreal Vancouver Marathon".[85][4]

## Membership

BMO is a member of the Canadian Bankers Association and registered member with the Canada Deposit Insurance Corporation, a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:

* Air Miles
* ATM Industry Association
* Interac
* Cirrus for MasterCard card users
* Diners Club North America
* MasterCard International

BMO Bank (BMO's US operations) is a member of the Federal Reserve System and a registered member of the Federal Deposit Insurance Corporation. It is also a member of:

* Cirrus for MasterCard card users
* Diners Club North America
* Interlink for Visa card users
* NYCE for MasterCard card users
* MasterCard International
* Plus for Visa card users
* Visa

## See also

* BMO SmartFolio
* List of banks and credit unions in Canada
* List of banks in the Americas
* List of largest banks

## References

1. ↑ 1.0 1.1 1.2 1.3 "Note 1: Basis of Presentation". The Bank of Aiming Higher: BMO 201st Annual Report 2018. Bank of Montreal. 2019. p. 148. https://www.bmo.com/ir/files/F18 Files/bmo_ar2018.pdf.
2. ↑ "Executive Bios | Corporate Information | BMO". https://www.bmo.com/main/about-bmo/corporate-information/executive-bios/.
3. ↑ 3.0 3.1 3.2 3.3 3.4 "2023 Annual Report to Shareholders". BMO Financial Group. https://www.bmo.com/ir/archive/en/bmo_ar2023_CFS.pdf.
4. ↑ 4.0 4.1 4.2 "Bank of Montreal - At - a - Glance". https://about.bmo.com/at-a-glance/.
5. ↑ 5.0 5.1 "Bank of Montreal (BMO) | The Canadian Encyclopedia". https://www.thecanadianencyclopedia.ca/en/article/bank-of-montreal. "Founded in Montreal in 1817 by a group of nine of the city’s most prominent figures, its original name was Montreal Bank."
6. ↑ Bonham, Mark S. (2012). "Bank of Montreal". The Canadian Encyclopedia. https://www.thecanadianencyclopedia.ca/en/article/bank-of-montreal/. Retrieved 17 August 2019.
7. ↑ Tor, Maria; Sarfraz, Tor (23 December 2013). "World's 100 Biggest Banks: China's ICBC #1, No U.S. Banks In Top 5". Forbes (SNL Financial). https://www.forbes.com/sites/halahtouryalai/2014/02/12/worlds-100-biggest-banks-chinas-icbc-1-no-u-s-banks-in-top-5/.
8. ↑ "Glossary of Banking Terms | BMO Bank of Montreal". https://www.bmo.com/home/popups/personal/banking-faq#q_info.
9. ↑ "Branch Banking". bmo.com. http://www4.bmo.com/personal/0,2273,35649_36655,00.html.
10. ↑ "BMO Financial Group accelerates North American growth with the strategic acquisition of Bank of the West". December 2021. https://newsroom.bmo.com/2021-12-20-BMO-Financial-Group-accelerates-North-American-growth-with-strategic-acquisition-of-Bank-of-the-West.
11. ↑ Bélanger, Claude (January 2005). "Bank of Montreal". Marianopolis College. http://faculty.marianopolis.edu/c.belanger/quebechistory/encyclopedia/BankofMontreal-QuebecHistory.htm.
12. ↑ The centenary of the Bank of Montreal, 1817–1917. Bank of Montreal. 1917. p. 8. https://archive.org/stream/centenaryofbanko00bankuoft#page/n7/mode/2up. Retrieved 18 March 2013.
13. ↑ "Bank of Montreal (BMO) | The Canadian Encyclopedia". https://www.thecanadianencyclopedia.ca/en/article/bank-of-montreal. "In 1822, the bank converted from a private company owned by a few people into a public company owned by 144 shareholders. At this time, it became officially known as the Bank of Montreal."
14. ↑ 14.00 14.01 14.02 14.03 14.04 14.05 14.06 14.07 14.08 14.09 14.10 14.11 "Growth of BMO". Bank of Montreal. 2019. https://history.bmo.com/category/growth-of-bmo.
15. ↑ Pound, Richard W. (2005). Fitzhenry and Whiteside Book of Canadian Facts and Dates. Fitzhenry and Whiteside. ISBN 978-1550411713. https://archive.org/details/fitzhenrywhitesi0003unse.
16. ↑ "Bank of Canada Act". Bank of Canada. 8 October 2008. p. 30, section 25. http://www.bankofcanada.ca/wp-content/uploads/2010/07/act_loi_boc_bdc.pdf.
17. ↑ 17.0 17.1 Mussio 2016, p. 97.
18. ↑ 18.0 18.1 Christopher Kennedy (9 August 2011). Evolution of Great world Cities: Urban Wealth and Economic Growth. University of Toronto Press. p. 168. ISBN 978-1-4426-9477-4. https://archive.org/details/evolutionofgreat0000kenn.
19. ↑ 19.0 19.1 19.2 19.3 19.4 Mussio 2016, p. 160–161.
20. ↑ "About Us". BMO Harris Bank. https://www4.harrisbank.com/us/about.
21. ↑ 21.0 21.1 Mussio 2016, p. 63.
22. ↑ "The Competition Bureau's Letter to the Royal Bank and Bank of Montreal". Government of Canada—Competition Bureau. 11 December 1998. http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/01612.html.
23. ↑ "Our Founding Partners". moneris.com. http://www.moneris.com/Home/About-Moneris/Corporate-Profile/Our-Founding-Partners.aspx.
24. ↑ "BMO Financial Group to Acquire bcpbank Canada" (Press release). BMO Financial Group. 3 August 2006. Archived from the original on 5 March 2016. Retrieved 19 March 2013.
25. ↑ Rita Trichur (19 November 2008). "Rogue gas trader admits to fraud". The Star. https://www.thestar.com/business/2008/11/19/rogue__gas_trader_admits_to_fraud.html.
26. ↑ Tara Perkins (18 November 2008). "Former trader pleads guilty in fraud that cost BMO $850-million". The Globe and Mail. https://www.theglobeandmail.com/report-on-business/former-trader-pleads-guilty-in-fraud-that-cost-bmo-850-million/article590543/.
27. ↑ Callan, Eoin; Sturgeon, Jamie (13 January 2009). "CMO buys AIG's Canadian life insurance unit". Financial Post (financialpost.com). http://www.financialpost.com/most_popular/story.html?id=1171778.
28. ↑ "BMO Financial to buy Diners Club from Citigroup". Toronto Star (thestar.com). 24 March 2009. https://www.thestar.com/business/2009/11/24/bmo_financial_to_buy_diners_club_from_citigroup.html.
29. ↑ "BMO 1st Canadian bank to incorporate in China". CBC News. Canadian Broadcasting Corporation. 14 October 2019. https://www.cbc.ca/news/business/bmo-1st-canadian-bank-to-incorporate-in-china-1.916694.
30. ↑ Gores, Paul (17 December 2010). "M&I to be sold to Canadian bank for $4.1 billion". Milwaukee Journal Sentinel (Jsonline.com). http://www.jsonline.com/business/112058794.html.
31. ↑ Gores, Paul (6 July 2011). "It's official: M&I is absorbed by Canada's BMO". Milwaukee Journal Sentinel. http://www.jsonline.com/business/125042639.html.
32. ↑ Brenchley, David (3 June 2019). "BMO completes F&C rebrand with property trusts". Investment Week. Incisive Business Media Limited. https://www.investmentweek.co.uk/investment-week/news/3076652/bmo-completes-rebrand-property-trusts.
33. ↑ "BMO News Release BMO Financial to acquire GE Capital's transportation finance business" (Press release). 10 September 2015. Archived from the original on 26 December 2015. Retrieved 16 September 2015.
34. ↑ Ligaya, Armina (28 May 2018). "BMO and CIBC's Simplii says fraudsters may have accessed clients' information" (in en). Toronto Star. The Canadian Press. https://www.thestar.com/business/2018/05/28/cibcs-simplii-financial-says-fraudsters-may-have-accessed-information-of-40000-clients.html.
35. ↑ "Hackers threaten to reveal personal data of 90,000 Canadians caught in bank hack". CBC News. 29 May 2018. http://www.cbc.ca/news/business/bank-hack-tuesday-1.4682018.
36. ↑ Zochodne, Geoff (19 January 2018). "BMO marks first foray by a major Canadian bank in marijuana sector with $175M deal" (in en-CA). Financial Post. https://business.financialpost.com/investing/bank-of-montreal-marks-first-for-major-canadian-lenders-with-175m-marijuana-deal.
37. ↑ Scuffham, Matt; Stempel, Jonathan (2018-01-15). "Lawsuit in U.S. accuses nine banks of rigging Canadian rate benchmark" (in en). Reuters. https://in.reuters.com/article/us-canada-rigging-idINKBN1F42IN.
38. ↑ "Former Liberal cabinet minister Scott Brison joins Bank of Montreal | CBC News" (in en-US). CBC. https://www.cbc.ca/news/canada/nova-scotia/former-liberal-cabinet-minister-scott-brison-joins-bmo-1.5018143.
39. ↑ "U.S. retail banking profits surge at Bank of Montreal" (in en). 2019-02-26. https://www.americanbanker.com/articles/us-retail-banking-profits-surge-at-bank-of-montreal.
40. ↑ "Bank of Montreal to move NYC headquarters to former Conde Nast building" (in en). 2019-04-03. https://www.crainsnewyork.com/real-estate/bank-montreal-move-nyc-headquarters-former-conde-nast-building.
41. ↑ "Bank of Montreal's Irish subsidiary fined for licence breach". https://www.theglobeandmail.com/business/international-business/european-business/article-bank-of-montreal-irish-subsidiary-fined-for-licence-breach/.
42. ↑ Saminather, Nichola; Stempel, Jonathan (2019-09-27). "Bank of Montreal pays $38 million to settle U.S. SEC charges it hid conflicts" (in en). Reuters. https://www.reuters.com/article/us-sec-bank-of-montreal-idUSKBN1WC2FG.
43. ↑ "Bank of Montreal earns $1.1B, hikes dividend and slashes 2,300 jobs" (in en). 2019-12-03. https://www.thestar.com/business/2019/12/03/bank-of-montreal-hikes-dividend-earns-11b-and-cuts-2300-jobs.html.
44. ↑ Alexander, Doug (3 December 2019). "Bank of Montreal slashes workforce in deepest cuts the industry has seen in years" (in en-CA). Financial Post. https://business.financialpost.com/news/fp-street/bank-of-montreal-beats-estimates-on-wealth-boost-as-charge-taken.
45. ↑ "Bank of Montreal to trim 5% of workforce, with cuts across business" (in en). 2019-12-03. https://www.investmentexecutive.com/news/industry-news/bank-of-montreal-to-trim-5-of-workforce-with-cuts-across-business/.
46. ↑ Alexander, Doug (13 September 2019). "BMO's aim to double indigenous lending relies on old-style banking". https://www.bnnbloomberg.ca/bmo-s-aim-to-double-indigenous-lending-relies-on-old-style-banking-1.1315710.
47. ↑ "'All kids deserve respect': Protesters demonstrate outside of BMO branch after 12-year-old handcuffed | CBC News" (in en-US). CBC. https://www.cbc.ca/news/canada/british-columbia/all-kids-deserve-respect-protesters-demonstrate-outside-of-bmo-branch-after-12-year-old-handcuffed-1.5423199.
48. ↑ "BMO president apologizes after 12-year-old Indigenous girl, grandfather handcuffed at bank | CBC News" (in en-US). CBC. https://www.cbc.ca/news/canada/british-columbia/bmo-indigenous-advisory-council-created-after-grandfather-12-year-old-handcuffed-at-brach-1.5429347.
49. ↑ "'BMO has to answer for this': Angry Vancouver mayor to review why 12-year-old, grandfather handcuffed at bank | CBC News" (in en-US). CBC. https://www.cbc.ca/news/canada/british-columbia/vancouver-mayor-bmo-detained-indigenous-1.5426247.
50. ↑ "NetNewsLedger - Vancouver Police Under Investigation Over Bank of Montreal Arrest" (in en-US). 2020-01-14. http://www.netnewsledger.com/2020/01/14/vancouver-police-under-investigation-over-bank-of-montreal-arrest/.
51. ↑ Sterritt, Angela; Watson, Bridgette (November 23, 2020). "Indigenous man and granddaughter handcuffed at Vancouver bank file human rights complaint against BMO, police". CBC News. https://www.cbc.ca/news/canada/british-columbia/bmo-human-rights-complaint-1.5812525.
52. ↑ Larsen, Karin (May 5, 2022). "Heiltsuk man, granddaughter reach settlement in human rights complaint against BMO". CBC News. https://www.cbc.ca/news/canada/british-columbia/maxwell-johnson-granddaughter-human-rights-complaint-settlement-1.6442567.
53. ↑ "BMO president apologizes for treatment of 12-year-old Indigenous girl and grandfather who were handcuffed". CBC. 16 January 2020. https://www.cbc.ca/news/canada/british-columbia/bmo-indigenous-advisory-council-created-after-grandfather-12-year-old-handcuffed-at-brach-1.5429347.
54. ↑ "'Apologies are not enough': BMO to start Indigenous Advisory Council | CityNews Vancouver". https://vancouver.citynews.ca/2020/01/16/bmo-indigenous-advisory-council/.
55. ↑ Saminather, Nichola (31 March 2020). "Bank of Montreal CEO says fossil fuel divestment not a 'productive solution'". https://www.nasdaq.com/articles/bank-of-montreal-ceo-says-fossil-fuel-divestment-not-a-productive-solution-2020-03-31-0.
56. ↑ "BMO Annual Report 2021". December 2021. http://www.bmo.com/ir/archive/en/bmo_ar2021.pdf.
57. ↑ "BMO declares climate ambition" (in en). https://newsroom.bmo.com/2021-03-10-BMO-declares-climate-ambition.
58. ↑ Bradshaw, James (2022-07-20). "BMO buys Calgary-based carbon-offset adviser Radicle Group to speed up sustainability push" (in en-CA). The Globe and Mail. https://www.theglobeandmail.com/business/article-bmo-buys-calgary-based-carbon-offset-adviser-to-speed-up/.
59. ↑ "Bank of Montreal expands U.S. presence with $16 bln purchase of Bank of the West from BNP Paribas" (in en). 2021-12-20. https://www.reuters.com/markets/europe/bnp-paribas-sell-bank-west-canadas-bmo-around-16-bln-2021-12-20/.
60. ↑ "Complementary branches may spare job cuts in BMO, Bank of the West deal" (in en). 2021-12-23. https://www.bizjournals.com/kansascity/news/2021/12/23/bmo-harris-bank-of-the-west-merger-kansas-city.html.
61. ↑ "Bank of the West's new owner talks new name, job cuts and plans for Bay Area real estate" (in en). 2023-02-01. https://www.bizjournals.com/sanfrancisco/news/2023/02/01/bank-of-the-west-bmo-financial-group-merger-casper.html.
62. ↑ (in English) ﻿The BMO legacy : two centuries of commitment to customers﻿ (Report). Bank of Montreal. https://www.bmo.com/bmo/files/images/4/1/BMOHistoryEng.pdf. Retrieved 2020-02-06.
63. ↑ "Reasons for Selection, 2009 Greater Toronto's Top Employers Competition". Eluta.ca. 9 October 2012. http://www.eluta.ca/top-employer-bank-of-montreal.
64. ↑ "Moody's downgrades 6 Canadian banks". CBC News (cbc.ca). 28 January 2013. http://www.cbc.ca/news/business/story/2013/01/28/business-moodys-downgrades-banks.html.
65. ↑ "Bank of Montreal (Delta, BC)". Historicplaces.ca. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=6369&pid=0.
66. ↑ "Bank of Montreal (New Westminster, BC)". Historicplaces.ca. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=3418&pid=0.
67. ↑ "Bank of Montreal (Corner Brook, NL)". Historicplaces.ca. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=2340&pid=0.
68. ↑ "Bank of Montreal (Winnipeg, MB)". Historicplaces.ca. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=7916&pid=0.
69. ↑ "The Bank of Montreal Building (Amherst, NS)". Historicplaces.ca. 19 January 1981. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=6497&pid=0.
70. ↑ "Bank of Montreal (Hamilton, ON)". Historicplaces.ca. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=8330&pid=0.
71. ↑ source document, previously cited, actually lists Barott, not Taylor
72. ↑ "Bank of Montreal (Ottawa, ON)". Historicplaces.ca. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=16147&pid=0.
73. ↑ "Bank of Montreal". Historicplaces.ca. http://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=14386&pid=0.
74. ↑ "Bank Architecture". The Canadian Encyclopedia. 4 March 2015. https://www.thecanadianencyclopedia.ca/en/article/bank-architecture.
75. ↑ "Bank of Montreal, BCE Place". Spencer R. Higgins, Architect Incorporated. http://www.higginsarchitect.com/BCE1.htm.
76. ↑ "Jury Announced for 2008 Siminovitch Prize in Theatre" (Press release). SiminovitchPrize.com. 20 May 2008. Archived from the original on 11 April 2013. Retrieved 18 March 2013.
77. ↑ Matsumoto, Rick (23 March 2007). "FC banks on jersey logo". Toronto Star (thestar.com). https://www.thestar.com/sports/2007/03/23/fc_banks_on_jersey_logo.html.
78. ↑ "BMO Field to be Home for Toronto FC and Canada's National Soccer Teams" (Press release). BMO Financial Group. 20 September 2006. Archived from the original on 4 March 2016. Retrieved 18 March 2013.
79. ↑ "BMO Renews Toronto FC Jersey Sponsorship" (Press release). marketwire.com. 5 July 2010. Retrieved 18 March 2013.
80. ↑ "Impact Sign Five-Year Jersey Sponsorship With BMO For MLS Debut". Sports Business Journal (sportsbusinessdaily.com). 15 June 2011. http://www.sportsbusinessdaily.com/Daily/Issues/2011/06/15/Marketing-and-Sponsorship/Impact-BMO.aspx.
81. ↑ "LAFC's home venue renamed as BMO Stadium". MLS (mlssoccer.com). 19 January 2023. https://www.mlssoccer.com/news/lafc-s-home-venue-renamed-as-bmo-stadium.
82. ↑ "Coast to Coast: Toronto". Sports Business Journal (sportsbusinessdaily.com). 2 April 2007. http://www.sportsbusinessdaily.com/Journal/Issues/2007/04/20070402/Coast-To-Coast/Coast-To-Coast.aspx?hl=maple leafs sponsor montreal&sc=0.
83. ↑ "Wheels & Deals: Tony Stewart To Announce Number, Sponsors". Sports Business Journal (sportsbusinessdaily.com). 23 July 2008. http://www.crash.net/motorsport/indycar/news/166707-0/rexall_oils_rahals_wheels_in_edmonton.html.
84. ↑ "2010 BMO Canadian Figure Skating Championships Begin in London, Ontario" (Press release). BMO Financial Group. 10 January 2010. Archived from the original on 4 March 2016. Retrieved 18 March 2013.
85. ↑ "BMO Bank of Montreal Takes the Lead, Becoming the Title Sponsor of the Vancouver Marathon" (Press release). BMO Financial Group. 20 December 2005. Archived from the original on 5 March 2016. Retrieved 18 March 2013.

## 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. Toreword 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:2-922245-12-8
* BMO Financial Group Corporate Archives, Montreal
* Rupert Canadian Investment Bank Review McGraw-Hill Ryerson, Limited 1992
* Mussio, Laurence B. (2016). A Vision Greater Than Themselves: The Making of the Bank of Montreal, 1817–2017. McGill-Queen's University Press. ISBN 978-0-7735-4829-9.

## External links

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