75.93 -0.19 (-0.25%)
After hours: 5:52PM EDT
|Bid||70.14 x 1200|
|Ask||77.13 x 1200|
|Day's Range||75.53 - 76.36|
|52 Week Range||62.79 - 84.36|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||12.39|
|Forward Dividend & Yield||3.07 (4.06%)|
|1y Target Est||85.95|
(Bloomberg) -- Bank of Montreal hired wealth management veteran Shannon Kennedy from Bank of New York Mellon Corp. to run BMO Family Office, its newly rebranded division serving ultra-high net worth clients.Kennedy, 54, who joined the Toronto-based bank last week, will lead a global expansion of the unit, with a team of more than 200 people, the company said Thursday in an emailed statement. She’ll be based in her native Chicago.The move comes amid a boom in the formation of family offices, firms that manage ultra-affluent families’ assets, often surpassing $500 million. There are more than 10,000 single-family offices worldwide, according to a report from EY. BMO’s expansion reflects a general push among private banks to offer a broader array of services.How New Wealth, Few Rules Fuel Family Office Boom: QuickTake“We’ve worked with a lot of multigenerational and multinational families,” Kennedy said in a phone interview. “The generational issues, education and transfer of ownership in businesses are the same thing that happens within financial families.”Kennedy worked at BNY Mellon for six years, most recently as president of U.S. markets in the Southwest. She previously was director of global family and private investment offices at Northern Trust Corp.“Ultra-high net worth families are often global citizens, and their interests and their needs will go beyond borders,” Darrel Hackett, president of BMO’s wealth management division, said in the interview.\--With assistance from Doug Alexander.To contact the reporter on this story: Jasmine Teng in New York at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Peter Eichenbaum, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
BMO Global Asset Management Announces Cash Distributions for Certain BMO Exchange Traded Funds and ETF Series
SASKATOON , June 18, 2019 /CNW/ - The third annual BMO Celebrating Women event in Saskatoon honoured four women for their remarkable contributions to business and the community. Challenging several realities frequently faced by Indigenous women including racism, family violence and incarceration, Ms. Fiddler created a fashion lifestyle brand that inspires thousands of Indigenous women. After graduating with a Bachelor of Arts from the University of Saskatchewan , she landed her first professional experience as a business development coordinator with the Meadow Lake Tribal Council.
Wells Fargo , the troubled San Francisco-based bank, has named Nico Marais as chief executive of its $746bn asset management unit. Mr Marais was previously WFAM president and head of multi-asset solutions. ...
BURLINGTON, ON , June 14, 2019 /CNW/ - The annual BMO Celebrating Women event in Burlington, Ontario honoured four women for their remarkable contributions to business and the community. Ms. Borovich has been a dedicated community leader for more than 20 years.
TORONTO , June 12, 2019 /CNW/ - Throughout June, BMO Financial Group is reaffirming its commitment to supporting the lesbian, gay, bisexual, transgender, and two-spirited (LGBTQ2+) community. The bank is once again the Platinum Sponsor for the 24th annual Pride and Remembrance run, which will see nearly 2,000 participants lace up for the largest fundraising event held during Toronto Pride Month.
The Canadian healthcare industry is seeing a rise in healthcare professionals, with the number of physicians and dentists both increasing yearly1. The majority of these professionals are self-employed and operating practices as small business owners. Once practicing, they also have to adapt to an ever-changing regulatory and healthcare business landscape. The new program is supported by a team of BMO professionals with both healthcare and finance backgrounds, who have industry experience and a deep understanding of the personal and financial needs of practitioners.
TORONTO , June 7, 2019 /CNW/ - BMO Financial Group (BMO.TO)(BMO) today announced commitments to support a thriving economy, sustainable future and inclusive society. The announcement follows an unveiling yesterday of a Purpose and bold Commitment platform across the enterprise with BMO employees in cities, including Toronto , Montreal , Chicago , New York and London , UK. The commitments are part of a monthslong engagement with over 18,000 employees and many customers. "BMO is driven by a single Purpose to Boldly Grow the Good in Business and Life," said Darryl White , Chief Executive Officer, BMO Financial Group.
Wall Street is decidedly undecided. Mixed economic data isn’t helping. Economists are expecting an increase of 175,000 in payrolls on Friday, according to Bloomberg’s survey, with the unemployment rate staying at 3.6%.
BMO Celebrating Women: BMO Recognizes Outstanding Women in Vancouver through National Program
Banks and other financial companies are tapping into that demand by selling more floaters, with issuance topping $15 billion last month, more than seven times April’s level, according to data compiled by Bloomberg. The money managers scooping up these securities are betting that the Federal Reserve won’t cut interest rates much this year, if at all.
Moody's Investors Service has assigned Aa1/VMIG 1 letter of credit-backed rating to the Metropolitan Transportation Authority (Issuer) Transportation Revenue Variable Rate Bonds Subseries 2012A-2 (the Bonds). The Bonds will be supported by a letter of credit (LOC) provided by Bank of Montreal (the Bank).
Bank of Montreal's (BMO) Q2 earnings benefit from improved revenues and strong loan growth, while rise in costs acts as major headwind.
MONTREAL , May 30, 2019 /CNW/ - The annual BMO Celebrating Women event in Montreal honoured four women for their remarkable contributions to business and the community. After working in the Ville de Montréal water service, Ms. Arnouk realized there was a need for a communication and coordination system to facilitate transportation for the city's employees, engineers and building workers. In 2015, she founded OPA Technologies, the only geospatial platform designed to reduce transportation delays by facilitating the management of road mobility through the optimization of geospatial data.
TORONTO, May 30, 2019 /PRNewswire/ -- Bank of Montreal (BMO) (BMO) today announced that it has received approvals from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions Canada (OSFI) to proceed with its previously-announced normal course issuer bid through the facilities of the TSX as well as through other alternative Canadian trading systems to purchase, for cancellation, up to 15 million of its common shares, commencing June 3, 2019, and ending no later than June 2, 2020. The maximum number of common shares that may be repurchased under the normal course issuer bid represents approximately 2.3 per cent of the Bank's "public float" (as such term is defined in the TSX Company Manual) of common shares.