BMO Capital Markets

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BMO Capital Markets
Type Subsidiary of
Bank of Montreal
Industry Investment Banking
Financial Services
Predecessor(s) Nesbitt, Thomson & Co.
Burns Fry
Founded 1987 (acquisition of Nesbitt Thomson)
Headquarters First Canadian Place
Toronto, Ontario, Canada
Products Mergers and acquisitions
Market making
Commodity products
Foreign exchange
Prime brokerage
Private equity
Securitization
Trade finance
Revenue Increase $3.341 billion CAD (2011)[1]
Parent Bank of Montreal
Website www.bmocm.com

BMO Capital Markets is investment banking subsidiary of Canadian Bank of Montreal. The company offers corporate, institutional and government clients access to a range of financial services. These include equity and debt underwriting, corporate lending and project financing, merger and acquisitions advisory services, securitization, treasury management, market risk management, debt and equity research and institutional sales and trading.

History[edit]

1912 – Nesbitt Thomson[edit]

A.J. Nesbitt of Montreal and P.A. Thomson of Hamilton, Ontario establish Nesbitt Thomson, a firm that becomes a household name in Canada for its role in some of the world’s largest mining, resources, and hydroelectric power projects.

After World War II, Nesbitt Thomson expands its operations to include such diverse industry sectors as chemicals, salt, steel, ships, farm machinery, retail stores, and a transcontinental natural gas pipeline.

1976 – Burns Fry[edit]

Burns Fry is created from the merger of Burns Bros. and Denton, known for equity trading and underwriting capabilities, and Fry Mills Spence, known for strong debt trading and underwriting. These Toronto firms had been highly successful in the securities business since 1932 and 1925 respectively. The merger brings together a large capital base and a strong branch-office system.

1987 – Nesbitt Thomson acquired[edit]

Bank of Montreal acquires Nesbitt Thomson in the first of many broker/bank mergers in the Canadian financial services sector.

1994 – Nesbitt Burns[edit]

Nesbitt Thomson and Burns Fry merge to form Nesbitt Burns, which becomes one of the leading investment firms in the marketplace.

1999 – Harris Nesbitt[edit]

The merger of the corporate banking arm of Harris Bank, BMO Financial Group’s Chicago-based subsidiary, and the U.S. investment banking capabilities of Nesbitt Burns, creates Harris Nesbitt. The new firm focuses on the middle market of the U.S. Midwest.

2000 – BMO Nesbitt Burns[edit]

The “BMO” brand is added to the Nesbitt Burns name in order to link the firm’s corporate identity with BMO Financial Group.

2003 – Gerard Klauer Mattison[edit]

BMO Financial Group acquires Gerard Klauer Mattison (GKM), providing Harris Nesbitt with a U.S.-based equity research and institutional sales and trading platform. GKM was founded in 1989 in New York as a boutique equity research and investment banking firm serving the institutional marketplace.

2006 – BMO Capital Markets name adopted[edit]

BMO Capital Markets was launched in June 2006 when BMO Financial Group’s Canadian, U.S. and international wholesale banking capabilities were merged.[2]

2008 - Griffin, Kubik, Stephens & Thompson, Inc.[edit]

BMO Capital Markets acquires Chicago-based Griffin, Kubik, Stephens & Thompson (GKST), becoming the largest qualified municipal bond dealer in Illinois. GKST was founded in 1980 and focuses on municipal bonds, debt securities (including U.S. Treasury debt), agencies and mortgage-backed securities.

Offices[edit]

Offices in Americas[edit]

Offices in Asia-Pacific[edit]

Offices in EMA[edit]

References[edit]

External links[edit]