Bank of Montreal Company Profile and Facts

Bank of Montreal is one of Canada's oldest and most trusted banks. Founded in 1817, it's been around for over two centuries.

The bank was originally established as the Bank of Montreal, but it has undergone several mergers and acquisitions over the years, expanding its reach and services.

Bank of Montreal operates under the banner of BMO Financial Group, which is a leading financial institution in North America.

You might like: Bank of Montreal Mortgage Rates

The Bank of Montreal has a rich history that spans over two centuries. It was established on June 23, 1817, when a group of merchants signed the Articles of Association, formally creating the "Montreal Bank".

The bank's first location was in rooms rented on Rue Saint-Paul, Montreal, before it moved to its permanent building on the same street in 1818. This was also the year the bank opened its first branch in Quebec City.

Expansion into Upper Canada was halted in 1824, but the bank reentered the market in 1838 by purchasing the Bank of the People. The bank was permitted to open its own branches in the area after Upper Canada and Lower Canada merged to create the Province of Canada in 1841.

For your interest: Fdic Seizes Philadelphia-based Bank Republic First Bank.

The Bank of Montreal established branches in Newfoundland Colony on January 31, 1895, at the behest of the colonial government. This came after the collapse of the Commercial Bank and Union Bank of Newfoundland on December 10, 1894.

Here are some notable Bank of Montreal branches with historic significance:

Bank of Montreal's corporate structure is diverse and extensive, with various divisions under its umbrella. The bank offers retail banking services.

The bank's investing and wealth management services are also available to its customers. It provides investment banking services as well. Insurance services are another aspect of the bank's offerings.

Bank of Montreal's corporate structure includes various other divisions, such as insurance, buildings, sponsorships, and predecessors, which are all part of the bank's operations.

A different take: Who Is Elan Financial Services

The Board of Directors is the group of individuals responsible for making key decisions for a company. George Cope is the Chairman of the Board of Directors at Bank of Montreal, a position he has held since March 30, 2020.

Expand your knowledge: Goldman Sachs Board Directors

The Board of Directors at Bank of Montreal consists of eight members, each with their own unique background and experience. Christine Edwards has been a Director/Board Member since July 31, 2010, making her one of the longest-serving members.

The average age of the Board of Directors is 63.5 years, with the youngest member being Darryl White at 53 years old and the oldest being Christine Edwards at 72 years old.

Here is a list of the current Board of Directors at Bank of Montreal:

The Executive Committee is the top leadership team at Bank of Montreal, responsible for making key decisions and overseeing the bank's operations. Darryl White, the CEO, has been in this role since November 30, 2018.

The committee is comprised of several key members, each with their own title and responsibilities. Tayfun Tuzun, the Director of Finance, has been in this position since December 31, 2020.

Here's a list of the Executive Committee members:

Grégoire Baillargeon, the President, has been in this position since October 31, 2022.

Bank of Montreal is a multinational banking and financial services corporation. It operates in various sectors, including retail banking, investing, wealth management, investment banking, insurance, and more.

The company has a diverse range of subsidiaries and affiliates, including Pyrford International Ltd., Clearpool Execution Services LLC, and BOW Auto Receivables LLC. These companies provide specialized services such as asset management, electronic trading, and auto receivables.

One notable subsidiary is Pyrford International Ltd., which is a UK-based asset management company that provides global asset management services to various clients. It was founded in 1987 and is headquartered in London.

Another key subsidiary is Clearpool Execution Services LLC, an American company that offers algorithmic management system (AMS) for electronic trading. The AMS provides total visibility and control from strategy to execution.

Here is a list of some of Bank of Montreal's corporate information:

BMO Family Office LLC is another notable subsidiary that provides wealth management advisory services to ultra-affluent individuals and families. It was founded in 1981 and is headquartered in Chicago, Illinois.

Bank of Montreal offers a range of services, including retail banking, investing, and wealth management, as well as investment banking and insurance.

Their corporate information includes sections on retail banks, investing, wealth management, investment banks, insurance, buildings, sponsorships, and predecessors, but these sections are currently empty.

The bank has made several announcements in recent months, including comments on Canada's producer prices and the launch of new ETNs.

Here are some key sales figures for Bank of Montreal:

The Bank of Montreal, or BMO for short, has a rich history that dates back to 1817 when it was founded by a group of Scottish businessmen.

The bank's headquarters are located in Toronto, Ontario, Canada, but it also has a significant presence in the United States, with operations in the states of Illinois, Indiana, Michigan, Minnesota, Ohio, and Wisconsin.

BMO offers a wide range of financial products and services to its customers, including personal banking, commercial banking, wealth management, and investment banking.

On a similar theme: United States Commodity Funds

The Chief Executive Officer (CEO) of Bank of Montreal has had a few different people in the role over the years. As of my knowledge cutoff, the current CEO is William Darryl White, who has been in the position since November 2017.

The CEO position has been held by several individuals, including George Arnold Reeve Hart, who was in the role from 1959 to 1971 and again from 1972 to 1974.

Here's a list of the CEOs of Bank of Montreal since 1959:

As of December 2024, Bank of Montreal announced that Tony Sciarrino would be joining the bank from JPMorgan Chase to lead the bank's U.S. commercial banking business, replacing Ray Whitacre who will retire on January 1, 2025.

BMO's membership is a reflection of its commitment to being a trusted and secure bank. BMO is a member of the Canadian Bankers Association.

BMO is registered with the Canada Deposit Insurance Corporation, a federal agency that insures deposits at all of Canada's chartered banks.

BMO Bank, which handles the bank's US operations, is a member of the Federal Reserve System and the Federal Deposit Insurance Corporation.

BMO's US operations also participate in various payment networks, including Cirrus for MasterCard card users, Interlink for Visa card users, MasterCard International, and Visa.

Here's a breakdown of some of the payment networks BMO's US operations are a part of:

Company Details is an essential part of a business's identity. It's what helps you find them on the map.

Bank of Montreal is a great example of this. Their company details include an address of 100 King Street West, 1 First Canadian Place, in Toronto.

The Bank of Montreal's postal code is M5X 1A1, which is a crucial piece of information for sending mail or packages.

The Bank of Montreal has a significant presence across Canada. With over 900 branches across the country, it's one of the largest banking networks in the nation.

You can find a Bank of Montreal branch almost anywhere you go. From major cities like Toronto and Vancouver to smaller towns, they've got a location near you.

As we explore the various branches and locations of major banks, it's interesting to see how their sales geographically break down. Bank of Montreal's sales in Canada have consistently been the highest, reaching 16.88 billion dollars in 2023.

The United States is the second-largest market for Bank of Montreal, with sales increasing from 8.66 billion dollars in 2020 to 14.46 billion dollars in 2024. However, it's worth noting that sales in the US actually declined in 2023.

Sales in other countries have also shown fluctuations, with a significant decrease in 2022 to 753 million dollars, but an increase to 2.22 billion dollars in 2024.

Here's a breakdown of Bank of Montreal's sales by country:

The Bank of Montreal has a rich history, and many of its branches are now recognized as historic buildings. Some of these buildings date back to the late 19th century.

For example, in Montreal, there's a Bank of Montreal branch on Notre Dame Street West that was built in 1894. Similarly, in Perth, Ontario, a Bank of Montreal branch was established as far back as 1884.

Expand your knowledge: Wells Fargo Cash Back Visa Signature Card

In addition to these early branches, some buildings have been repurposed for other notable uses. The Bank of Montreal branch in Montreal that was completed in 1894 is now a National Historic Site of Canada, recognized for its Queen Anne Revival architecture.

Here are some of the historic Bank of Montreal branches:

Bank of Montreal is a major player in the world of sports sponsorships. The bank has been a sponsor of the Toronto FC of Major League Soccer since 2007 and has extended its agreement through the 2016 season.

The bank's sponsorship portfolio also includes the CF Montréal, with a five-year agreement to become lead sponsor and jersey sponsor. Additionally, BMO is a sponsor of Los Angeles FC, with their stadium named BMO Stadium since 2023.

BMO has also been a sponsor of the Toronto Maple Leafs and the Toronto Raptors from at least 2007 through 2011.

Take a look at this: Toronto Dominion Bank Group

The Bank Museum is a great place to learn about the history of the Bank of Montreal. It's located in the passageway connecting the Main Branch and Head Office buildings and is open Monday through Friday from 9 a.m. to 5 p.m.

You can find a replica of the Bank's first office, a model of early Saint Jacques Street, and displays of bank notes, coins, and tokens. The museum also features a collection of rare mechanical piggy banks and other interesting banking memorabilia.

More than 2,800 Bank of Montreal employees served in the two world wars, with 314 losing their lives and 40 being made prisoners of war. The names of those who made the ultimate sacrifice appear on the east wall of the hall.

The De Maisonneuve House, located on the same site, was constructed in 1913 and renovated in 1983 at a cost of over $4 million.

BMO Bank of Montreal is a major sponsor of several organizations and events.

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.

Since 1997, BMO has been a major sponsor of Skate Canada, and is the title sponsor of the BMO Financial Group Canadian Championships.

If this caught your attention, see: List of Canadian Exchange-traded Funds

The bank is also a sponsor of the Toronto FC of Major League Soccer, having extended its agreement through the 2016 season.

BMO is the title sponsor of the BMO Bank of Montreal Vancouver Marathon, which is an annual May marathon race.

The bank is a sponsor of the CF Montréal, announcing a five-year agreement to become lead sponsor and jersey sponsor.