Bank of Montreal is the fourth largest bank in terms of market capitalization in list of the famous BIG FIVE banks of Canada.
It is the oldest bank of Canada with establishment in 1817.This bank is famous for not missing a single dividend payment since 1829, surviving great depression, World War 1, World War 2 and financial crisis of 2008. It serves close to 12 million customers with more than 900 branches. It was initially headquartered in Montreal, Quebec which is reflected in its name but later shifted its operation to the capital city of Toronto. Along with Canada, it has significant operations in Chicago in the United States of America. Other than these two countries its presence is very less world-wide in terms of retail operations
Since establishment till 1942 BMO maintained its separate paper currency which was then standardized by Bank of Canada. Operations of bank of Montreal are divided into three major divisions namely Personal and Commercial group, investment banking division and Private Client group. BMO has grown majorly through series of acquisition. It has followed a subsidiary model to expand in the US market with BMO Harris Bank managing retail operations from its headquarter in Chicago. Similarly it merged with Marshall & Islley (M&I) to expand its wealth management services in US leveraging the brand equity. It was formed with merger with Harris bank of Chicago and it still uses brand name of Harris for its retail operations. A significant one being purchase of AIG life insurance company and purchase of Lloyd George, an investment group worth $6 billion. The offices in which BMO operates are a tourist attraction in Canada with many of them declared by government as being of historical nature. BMO has also been active sponsor in sports especially in soccer and racing.