51-589: BMO may refer to: Bank of Montreal , a Canadian bank BMO Bank , an American subsidiary of the Bank of Montreal BMO ( Adventure Time ) , a character in the animated television series Adventure Time "BMO" ( Adventure Time: Distant Lands ) , a television episode of the animated series "BMO" (song) , a song by American singer Ari Lennox Balkan Mathematical Olympiad , an international contest for students from European countries British Mathematical Olympiad , part of
102-630: A Vancouver branch of the bank following an identification discrepancy. The Vancouver mayor criticized the bank for what he termed giving false information to the police. The police were afterwards investigated. A human rights claim was later filed in response to the incident. 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. After
153-442: A Bank of Montreal trader pleaded guilty to intentionally mismarking his trading book in order to increase his bonus from the bank. 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. In
204-552: A federal agency insuring deposits at all of Canada's chartered banks. It is also a member of: 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: BMO Bank North America BMO Bank, N.A. ( colloquially BMO ; US : / b iː m oʊ / ) is an American national bank that
255-627: A license to operate in China. 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
306-680: 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 . 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
357-574: A seventeen-storey structure next to its historic head office. 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. The structure was named after the bank's slogan at the time, The First Canadian Bank , 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 . The bank's present "M-Bar" logo
408-664: A similar proposal by the Toronto-Dominion Bank to merge with the Canadian Imperial Bank of Commerce . 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 . In 2006, BMO bought BCPBank, a Schedule C financial institution that was the Canadian division of Banco Comercial Português . In 2008,
459-629: A slogan introduced in 1969. 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. The bank has been a sponsor of the Toronto FC of Major League Soccer since 2007 and of its home stadium named BMO Field at Exhibition Place . In 2010, BMO extended its agreement with the Toronto FC through
510-508: 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. 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
561-718: Is also the presenting sponsor of the CanSkate Learn-to-Skate Program. 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 ". BMO is a member of the Canadian Bankers Association and registered member with the Canada Deposit Insurance Corporation ,
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#1732848148464612-494: Is different from Wikidata All article disambiguation pages All disambiguation pages Bank of Montreal The Bank of Montreal (French: Banque de Montréal ), abbreviated as BMO (pronounced / ˈ b iː m oʊ / ), is a Canadian multinational investment bank and financial services company. The bank was founded in Montreal , Quebec , in 1817 as Montreal Bank, making it Canada's oldest bank. In 2023,
663-477: Is headquartered in Chicago, Illinois . It is the U.S. subsidiary of the Toronto -based multinational investment bank and financial services company Bank of Montreal , which owns it through the holding company BMO Financial Corporation (formerly Bankmont Financial Corporation, then Harris Financial Corporation). As of March 2024 , it was the 15th largest bank in the United States by total assets . The bank
714-576: 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). 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 ]". In 2018, BMO went into
765-532: The Toronto-Dominion Bank ). BMO is the issuer of the Diners Club cards in the United States. BMO is headquartered in a complex of three buildings in Chicago's Loop neighborhood. The original 21-story building was constructed in 1910 at 119 West Monroe Street. The entrance to the building is flanked by two bas-relief sculptures of lions, which inspired various iterations of the bank's logo until 2011, along with
816-463: 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". 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". After resigning from the Canadian Liberal cabinet, Scott Brison
867-585: The 2016 season. 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. In addition, the bank is a sponsor of Los Angeles FC , with their stadium being named BMO Stadium since 2023. From at least 2007 through 2011, BMO was the sponsor for the Toronto Maple Leafs and the Toronto Raptors . In July 2008, BMO announced
918-515: The Bank of Montreal's two units in Chicago paid $ 38 million. In December 2019, the bank cut 2,300 jobs, after a drop in quarterly earnings, effecting around five percent of the workforce. The company had plans to "double indigenous lending" in September 2019. There was controversy and protests in January 2020 after a12-year-old First Nations girl and her grandfather were handcuffed by police at
969-1577: The Harris name in 1994 and two years later, the company acquired 54 Chicago area branches from Household Bank. In 1999, the direct brokerage firm Burke, Christensen & Lewis merged with Harris Investors Direct to form Harris InvestorLine. The company's further acquisitions include Freeman Welwood in 2000; Village Bank of Naples , and Century Bank (Arizona) and First National Bank of Joliet in 2001; Northwestern Trust and Investors Advisory Company ( Seattle ) in 2002. Also in 2002, InvestorLine combined with CSFBdirect to form Harrisdirect and Harris acquired online client accounts of Morgan Stanley Individual Investor Group and myCFO . The following year, it purchased Sullivan, Bruyette Speros & Blayney Incorporated, followed by Lakeland Community Bank in Round Lake , and Villa Park Trust and Savings Bank in 2005. BMO continued its acquisitions in 2007 with First National Bank & Trust, ( Kokomo, Indiana ) followed by Ozaukee Bank, ( Cedarburg, Wisconsin ) and Merchant and Manufacturers Bankcorp Inc., ( New Berlin, Wisconsin ) in 2008, and Amcore Bank N.A. ( Rockford, Illinois ) on April 23, 2010. On December 17, 2010, Bank of Montreal agreed to purchase Milwaukee -based Marshall & Ilsley Corporation in an all-stock transaction valued at about US$ 4.1 billion. Marshall & Ilsley and Harris Bankcorp were both rebranded as BMO Harris. The company restructured as BMO Bankcorp July 5, 2011. In December 2015,
1020-680: 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
1071-587: 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. 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. In January 2024, BMO became the first new member of the club of United Kingdom Bond dealers in 10 years, becoming one of
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#17328481484641122-406: The West in 2023. Coinciding with the Bank of the West merger, the U.S. bank announced that it would retire the "BMO Harris Bank" brand in favor of the global "BMO" brand of its Bank of Montreal's parent financial services corporation. In 1882, Norman Wait Harris established N.W. Harris & Co., a Chicago-based municipal bond broker and the forerunner of Harris Bank. Harris Trust and Savings Bank
1173-421: The West was completed in February 2023, and the Bank of the West brand is planned to be absorbed into the global BMO brand by September 2023. Coinciding with this merger, BMO Harris Bank announced that it will retire the combined "BMO Harris" brand and will start to use the global BMO brand of its Canadian parent company. The company will then begin to primarily do business as "BMO Bank N.A." in September 2023 once
1224-767: 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. 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. During this period,
1275-520: The bank also acquired the Montreal-based Molson Bank in 1925. 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. In 1960, the Bank of Montreal moved its operational headquarters to
1326-580: The bank announced it would move its headquarters to 14 floors of a 50-story office tower adjacent to Chicago Union Station . The new BMO Tower opened in 2022. Additionally, notable BMO buildings are located in Milwaukee ( BMO Harris Financial Center ), at 770 North Water Street, and Indianapolis ( BMO Plaza ). In 2017, the bank began construction of a 25-story BMO Tower at North Water and East Wells, adjacent to its current Milwaukee headquarters. The bank expects to occupy 123,000 square feet (11,400 m ) of
1377-596: 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 . In 1995, the bank opened its first branch in Guangzhou , formally receiving a license to operate the branch on 20 November 1996. In doing so the bank became the first Canadian bank to receive
1428-529: 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. 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. In 1838,
1479-566: The bank reentered the Upper Canadian market with the purchase of the Bank of the People , a bank based in Toronto. 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. Shortly after the two colonies merged, the bank opened branches into Cobourg , Belleville , Brockville , and Ottawa . Expansion into
1530-463: The bank's mascot character, Hubert the Lion. In 1960, a 23-story structure was added to the east with the address of 111 West Monroe. In 1974, a second 38-story tower was added to the west, with the address of 115 South LaSalle Street. Both additions were designed by the firm of Skidmore, Owings and Merrill and are in the modern style. The bank uses the address of the 1960 building. In December 2018,
1581-518: 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. By 1907, the bank had branches in every province of Atlantic Canada , with the opening of a branch in Charlottetown . Expansion into the Maritimes was further facilitated with
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1632-502: The client groups operates under multiple brand names. In October 2008, Mediacorp Canada Inc. named BMO Financial Group one of Greater Toronto's Top Employers . 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 number of late-19th century Bank of Montreal branches were also built by British architect, Andrew Taylor. Taylor designed
1683-539: The company completed its acquisition of General Electric Capital Corp.'s transportation finance business. BMO was the bank with the second-most deposits in Chicago by June 2018, with 11.5% market share. Also, that month, its BMO Harris division was operating in eight states in the US. In December 2021, Bank of Montreal agreed to purchase Bank of the West with the intent on merging it with BMO Harris Bank, which would at least double its U.S. presence. The acquisition of Bank of
1734-532: The company’s seat in Forbes Global 2000 was 84. 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 . In April 2024, it had CA$ 1.37 trillion in total assets. The Bank of Montreal swift code is BOFMCAM2 and
1785-778: The incident, BMO launched an Indigenous Advisory Council with Indigenous members from a number of provinces. 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". 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. In July 2022, BMO acquired Calgary-based Radicle Group Inc., an adviser to companies on sustainability and measuring carbon emissions. In December 2021, BMO agreed to acquire San Francisco-based Bank of
1836-431: The institution number is 001. In Canada, BMO has more than 900 branches and more than 1000 in the United States, serving over 13 million customers globally. 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
1887-536: The integration with Bank of the West is completed. BMO is one of the largest banks in the Midwest with over 600 branches and approximately 1,300 ATMs in Illinois, Iowa, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona, Florida and California. It is the second-largest Chicago-area bank based on market share, behind JPMorgan Chase , and the second largest US subsidiary of a Canadian bank after TD Bank, N.A. (owned by
1938-448: The liability. In 2014, the bank acquired London-based Foreign & Colonial Investment Trust , later re-branding it as BMO Commercial Property Trust in 2019. 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. BMO and Simplii Financial (a subsidiary of
1989-467: The operational headquarters was moved to a 17-storey tower adjacent the historic head office building. In 1977, the bank's operational headquarters or "executive office", was moved to First Canadian Place in Toronto, with the chairman, president, and some senior executives working from First Canadian Place. The structure's was named after a historic slogan of the bank, the First Canadian Bank ,
2040-424: The primary-dealer banks that buy bonds directly from the government. By buying bonds directly from the government, banks help create a liquid market for government debt, but they also have to hold additional capital as insurance against possible losses. In 2013, the number of primary bond dealers reached 21, by 2024 it had dropped to 16. BMO is divided into three "client groups" which serve different markets. Each of
2091-503: 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. In October 2010, the bank became the first Canadian bank to incorporate in China, with branches in China operating as BMO ChinaCo. In December 2010, BMO announced the purchase of Milwaukee -based Marshall & Ilsley , and
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2142-657: The selection process for the UK International Mathematical Olympiad team Bloody Mannequin Orchestra , a 1980s punk band from Bethesda, Maryland Bounded mean oscillation , in harmonic analysis, a real-valued function whose mean oscillation is bounded BMO Field , a stadium located in Toronto, Canada BMO, National Rail station code for Birmingham Moor Street railway station in Birmingham, UK BMO, before (stock) market open, usually in reference to
2193-561: The time of an upcoming announcement, such as an earnings report Bolle med ost ( bun with cheese ), a typical Danish snack Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title BMO . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=BMO&oldid=1246035981 " Category : Disambiguation pages Hidden categories: Short description
2244-660: 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. The bank was established on 23 June 1817 when a group of merchants signed the Articles of Association, formally creating the "Montreal Bank". 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
2295-443: Was also introduced during this time, in 1967. 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. In 1984, the bank acquired Chicago-based Harris Bank (through its parent, Harris Bankcorp), later rebranded as BMO Harris Bank . In 1987, the bank acquired stock brokerage Nesbitt, Thomson and Company . Several years later,
2346-526: 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 . Completed in 1847, the Bank of Montreal Head Office is formally located in Montreal, on Saint Jacques Street . However in 1960,
2397-610: Was established in 1907. It merged with Chicago National Bank in 1960 and was restructured as Harris Bank, N.A. in 1972. Bank of Montreal (later known as BMO Financial Group) acquired control of Harris in 1984. The bank grew rapidly through a series of acquisitions beginning with the First National Bank of Barrington in 1985, State Bank of St. Charles and First National Bank of Batavia in 1988 and Libertyville Federal Savings Bank and Loan and Frankfort Bancshares in 1990. Harris Bankcorp and Suburban Bancorp combined under
2448-674: 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 . By 1822,
2499-508: Was founded in Chicago in 1882 as N.W. Harris & Co. by Norman Wait Harris before changing its name to Harris Trust and Savings Bank in 1907, and then Harris Bank in 1972. After the Bank of Montreal acquired the company in 1984, it eventually became branded as BMO Harris Bank by 2011. Under the Bank of Montreal's ownership, the company increased its presence in the U.S. through a series of acquisitions of other banks, such as Suburban Bancorp in 1994, Marshall & Ilsley in 2011, and Bank of
2550-558: Was hired by the bank as its vice-chair of investment and corporate banking in February 2019. In February 2019, it became reported that its US retail profits had surged. The bank moved its New York City headquarters in April 2019, to a former Conde Nast building. That month, the bank's Irish subsidiary was fined several million for a license breach. To settle charges by the SEC that it hid conflicts of interest from clients in 2016, in September 2019
2601-508: Was later amalgamated with its Harris Bank operations. When the transaction completed, M&I Bank, along with current Harris Bank branches were rebranded BMO Harris Bank . In 2022, BMO booked US$ 834 million after being found liable for Marshall & Ilsley Bank Ponzi scheme with damages of US$ 550 million. In 2009, businessman Thomas Petters was found guilty of running the scheme using an account at Marshall & Ilsley between 2002 and 2008. When BMO bought Marshall & Ilsley and assumed
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