Bank of Montreal

Bank of Montreal TSX: BMO NYSE: BMO is Canada's fifth largest banks, and is classified as a Domestic Chartered Bank (Schedule I). Bank of Montreal was founded in 1817, making it Canada's oldest bank. It operates under the corporate brand BMO Financial Group; the services of the bank itself are now marketed as BMO Bank of Montreal.

History

First Canadian Place

The Bank of Montreal is Canada's oldest chartered bank and began business in 1817. It has been referred to as BMO or Canada's First Bank.

The Bank opened in Montreal, Quebec on November 3, 1817. For the first few years of its existence, the Bank occupied a small building on Saint Paul Street. John Grey, a retired dry goods merchant, was the first President of the Bank of Montreal and Robert Griffin worked as the first cashier.

The Bank of Montreal served as Canada's central bank until the creation of the Bank of Canada in 1935. It played a major role in the development of the country, taking part in the financing of the first transcontinental railway in the 1880s. The first Canadian bank to open a branch abroad, the Bank of Montreal is today a major international bank with 1,100 branches across Canada and around the world. In 1977, the BMO's Head Office moved to Toronto, Canada's economical engine.

Mergers

Through its history, Bank of Montreal has merged with several other Canadian banks:

  • Commercial Bank of Canada (1868)
  • Exchange Bank of Yarmouth (1903)
  • People's Bank of Halifax (1905)
  • People's Bank of New Brunswick (1907)
  • Bank of British North America (1918)
  • Merchants Bank of Canada (1922)
  • Molson Bank (1925)

Operations

Bank of Montreal at Square One shopping mall

BMO Bank of Montreal is one division within BMO Financial Group:

  • BMO Bank of Montreal — banking services
  • BMO Harris — US operations
  • BMO InvestorLine
  • BMO Life
  • BMO Nesbitt Burns

The bank's stock is listed on both the Toronto and New York stock exchanges under the symbol BMO .

Corporate governance

Current members of the board of directors of BMO are: Robert Astley, Stephen Bachand, David Beatty, Robert Chevrier, Anthony Comper, Ronald Farmer, David Galloway, Harold Kvisle, Eva L. Kwok, Bruce Mitchell, Philip Orsino, Robert Prichard, Jeremy Reitman, Guylaine Saucier, and Nancy Southern.

Headquarters

The BMO still has an office located on Saint Jacques Street in Montreal, but that office only controls the bank's economical (and somewhat political) relation with the province of Quebec, thus most decision-making is made at their official Toronto headquarters at the First Canadian Place. This reflects the preponderant place of the Toronto Stock Exchange in the Canadian economy and, probably although it is not acknowledged, concerns about separatism in Quebec.

Recent mergers and merger attempts

Purchase of Harris Bankcorp (1984)

In 1984 the bank greatly expanded its operations in the United States by purchasing Chicago's Harris Bank.

Proposed merger with RBC (1998)

In 1998 the Bank of Montreal shocked the Canadian financial community by announcing plans to merge with the Royal Bank of Canada. The Canadian government later blocked the proposed merger.

Membership

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

  • Interac
  • MasterCard International
  • Cirrus Network for MasterCard card users

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It is also a member of:. The Globe and Mail has outsold the National Post throughout the so-called "national newspaper war" and has begun to regain some of the lost ground as the Post's new owner, CanWest, has been reluctant to invest in expansion. BMO is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. Needham. The Canadian government later blocked the proposed merger. Other satirical nicknames for the paper include Mop and Pail or Grope and Flail, both of which were coined by longtime Globe and Mail humour columnist Richard J. In 1998 the Bank of Montreal shocked the Canadian financial community by announcing plans to merge with the Royal Bank of Canada. For this reason, critics sometimes refer to the paper as the Toronto Globe and Mail or as Toronto's National Newspaper.

In 1984 the bank greatly expanded its operations in the United States by purchasing Chicago's Harris Bank. (A similar criticism is sometimes applied to The New York Times). This reflects the preponderant place of the Toronto Stock Exchange in the Canadian economy and, probably although it is not acknowledged, concerns about separatism in Quebec. As such it is sometimes popularly ridiculed as being too focused on the GTA, which could be seen as part of a wider humourous notion of Torontonians sometimes being blind to the wider concerns of the nation. The BMO still has an office located on Saint Jacques Street in Montreal, but that office only controls the bank's economical (and somewhat political) relation with the province of Quebec, thus most decision-making is made at their official Toronto headquarters at the First Canadian Place. Though promoted as a national paper and sold throughout Canada, The Globe and Mail also serves as a Toronto metropolitan paper, publishing several special sections in its Toronto edition which are not included in the national edition. Kwok, Bruce Mitchell, Philip Orsino, Robert Prichard, Jeremy Reitman, Guylaine Saucier, and Nancy Southern. Possibly due to this competition the paper has made other changes such as the introduction of colour photographs and the creation of the Review section on arts, entertainment and culture.

Current members of the board of directors of BMO are: Robert Astley, Stephen Bachand, David Beatty, Robert Chevrier, Anthony Comper, Ronald Farmer, David Galloway, Harold Kvisle, Eva L. In the 2006 Canadian election, the Globe and Mail endorsed the Conservative Party, endorsing a different party for the first time since 1988. The bank's stock is listed on both the Toronto and New York stock exchanges under the symbol BMO . Following the tenure of chief editor Edward Greenspon in 2002, The Globe and Mail has been criticized for returning to its conservative tradition; its editorial cartoonist Brian Gable has mocked it as sensationalistic, and its columnist Lawrence Martin has called for the creation of a new national newspaper [1]. BMO Bank of Montreal is one division within BMO Financial Group:. Since the 1998 launch of rival conservative paper the National Post, the Globe has been seen as increasingly centrist or even liberal; however, no media studies have yet examined whether the editorial thrust of the paper has actually changed (as opposed to the zeitgeist changing around it) and recent anecdotal observations are typically made in comparison to the Post. Through its history, Bank of Montreal has merged with several other Canadian banks:. After 1993, the paper moved its electoral support to the Liberals.

In 1977, the BMO's Head Office moved to Toronto, Canada's economical engine. The paper was an ardent supporter of the now defunct Progressive Conservative party, being most pronounced in its many pro-free trade editorials during the election in 1988. The first Canadian bank to open a branch abroad, the Bank of Montreal is today a major international bank with 1,100 branches across Canada and around the world. Editorially, The Globe and Mail has historically been seen as a conservative and business-oriented paper. It played a major role in the development of the country, taking part in the financing of the first transcontinental railway in the 1880s. The network and paper are now owned by Bell Globemedia, of which the Thomson Corporation is the majority shareholder with 40%, while Bell, Torstar and the Ontario Teachers' Pension Plan control 20% each. The Bank of Montreal served as Canada's central bank until the creation of the Bank of Canada in 1935. Long owned by Kenneth Thomson and his family, in 2001 control of the paper was sold to BCE Inc., also owners of the CTV network.

John Grey, a retired dry goods merchant, was the first President of the Bank of Montreal and Robert Griffin worked as the first cashier. Report on Business Magazine, published by and carried in the newspaper, would follow, as would the specialty channel Report on Business Television. For the first few years of its existence, the Bank occupied a small building on Saint Paul Street. In 1962, the paper added its popular Report on Business section. The Bank opened in Montreal, Quebec on November 3, 1817. As The Globe and Mail lost ground to the Star locally, the newspaper began to circulate nationally in search of subscribers, adopting the masthead slogan "Canada's National Newspaper" in the process. It has been referred to as BMO or Canada's First Bank. Macdonald), the Globe became The Globe and Mail.

The Bank of Montreal is Canada's oldest chartered bank and began business in 1817. In 1936, after a merger with The Mail and Empire (ironically, the Mail was the paper of Brown's arch-rival, Sir John A. . Through the late 19th and early 20th centuries the newspaper was strictly a Toronto-oriented daily, competing with the Toronto Star in a heated newspaper war. It operates under the corporate brand BMO Financial Group; the services of the bank itself are now marketed as BMO Bank of Montreal. Brown selected as the motto for the editorial page a quotation from Junius, "The subject who is truly loyal to the Chief Magistrate will neither advise nor submit to arbitrary measures." The quotation is carried on the editorial page daily to this day. Bank of Montreal was founded in 1817, making it Canada's oldest bank. The paper was founded as The Globe in 1844 by George Brown, who was later a Father of Confederation.

Bank of Montreal TSX: BMO NYSE: BMO is Canada's fifth largest banks, and is classified as a Domestic Chartered Bank (Schedule I). . Cirrus Network for MasterCard card users. It bills itself as the newspaper of record in Canada. MasterCard International. The Globe and Mail is a large Canadian English language national newspaper based in Toronto. Interac. Ken Wiwa.

BMO Nesbitt Burns. Jan Wong. BMO Life. Hugh Winsor. BMO InvestorLine. Margaret Wente. BMO Harris — US operations. Bob Weeks.

BMO Bank of Montreal — banking services. William Thorsell. Molson Bank (1925). Norman Spector. Merchants Bank of Canada (1922). Russell Smith. Bank of British North America (1918). Jeffrey Simpson.

People's Bank of New Brunswick (1907). Rick Salutin. People's Bank of Halifax (1905). Lorne Rubenstein. Exchange Bank of Yarmouth (1903). Eric Reguly. Commercial Bank of Canada (1868). Rex Murphy.

Leah McLaren. Heather Mallick. Lawrence Martin. John Ibbitson.

Marcus Gee. John Doyle. Scott Colbourne. John Barber.

Christie Blatchford.

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