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Bank of Montreal
Trade name
BMO Financial Group (US)
BMO Bank of Montreal (Canada)
Formerly
Montreal Bank
(1817-1822)
Public
Traded as tsx
Industry Financial services
Founded As Montreal Bank:
23 June 1817; 204 years ago (1817-06-23) in Montreal, Lower Canada
As Bank of Montreal:
1822; 200 years ago (1822) in Montreal, Lower Canada
Headquarters Montreal, Quebec, Canada
Toronto, Ontario, Canada,
Key people
Patrick Cronin
(CRO, BMO Financial Group)
George A. Cope
(Chair of the Board, BMO Financial Group)
Thomas E. Flynn
(CFO, BMO Financial Group)
Dave Casper
(CEO, BMO Harris Bank)
Darryl White (CEO BMO Financial Group)
Revenue Increase CAD$22.8 billion (F2019)
Increase CAD$5.8 billion (F2019)
Total assets Increase 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.

Achievements

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.

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