Bank of Montreal facts for kids
|BMO Financial Group (US)
BMO Bank of Montreal (Canada)
|Founded||As Montreal Bank:
23 June 1817 in Montreal, Lower Canada
As Bank of Montreal:
1822 in Montreal, Lower Canada
|Headquarters||Montreal, Quebec, Canada
Toronto, Ontario, Canada,
(CRO, BMO Financial Group)
George A. Cope
(Chair of the Board, BMO Financial Group)
Thomas E. Flynn
(CFO, BMO Financial Group)
(CEO, BMO Harris Bank)
Darryl White (CEO BMO Financial Group)
|Revenue||CAD$22.8 billion (F2019)|
|CAD$5.8 billion (F2019)|
|Total assets||CAD$852.2 billion (F2019)|
Number of employees
|45,513 (FTE, F2019)|
|Subsidiaries||BMO Capital Markets
BMO Harris Bank
BMO Nesbitt Burns
The Bank of Montreal is a Canadian multinational investment bank and financial services company. Founded in Montreal, Quebec, in 1817 as Montreal Bank. Their head office remains in Montreal. They also have operational headquarters and executive offices in Toronto, Ontario, since 1977. One of the Big Five banks in Canada, as well as one of the ten largest banks in North America. It is commonly known by its acronym BMO. BMO is also its stock symbol on both the Toronto Stock Exchange and the New York Stock Exchange.
Establishment and early history
On 23 June 1817, John Richardson and eight merchants signed the Articles of Association to establish the Montreal Bank in a rented house in Montreal, Quebec. The bank officially began conducting business on 3 November 1817. This is the birth of Canada's oldest bank. It underwent a name change to its current in 1822. BMO's Institution Number (or bank number) is 001. In Canada, the bank operates as BMO Bank of Montreal and has more than 900 branches, serving over seven million customers.
Operations in the USA
In the United States, it does business as BMO Financial Group, where it has substantial operations in the Chicago area and elsewhere in the country, where it operates BMO Harris Bank. BMO Capital Markets is BMO's investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt Burns. The company is ranked at number 131 on the Forbes Global 2000 list.
The company has not missed a dividend payment since 1829. They paid dividends consistently through major world crises such as World War I, the Great Depression, World War II, and the 2008 financial crisis; this makes the Bank of Montreal's dividend payment history one of the longest in the world.
Images for kids
Completed in 1977, First Canadian Place formally serves as the bank's "executive office".
Footprint of Milwaukee-based bank Marshall & Ilsley prior to its acquisition by the Bank of Montreal in 2010.
The head office for BMO Harris Bank, a Chicago-based subsidiary of BMO.
The bank has been the jersey sponsor for MLS's CF Montréal since 2012.
Bank of Montreal Facts for Kids. Kiddle Encyclopedia.