Bank of Montreal 2010 Annual Report Download - page 20
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18 BMO Financial Group 193rd Annual Report 2010
China is an important market for BMO
outside of North America. In October 2010,
BMO officially opened its new incorporated
subsidiary, Bank of Montreal (China) Co. Ltd.
(BMO ChinaCo).
BMO’s commitment to China spans much
of its history. With local incorporation, BMO
joins a limited number of foreign banks in
offering a broad range of financial services
to its customers. The new company gives
us a clear advantage in growing our existing
businesses and branch network. It gives
us the flexibility to expand our product and
service offerings for North American and
Chinese clients – including the possibility
of new initiatives in retail banking, wealth
management and capital markets.
National treatment will ensure BMO can grow
at a faster pace as China embraces financial
liberalization and regulatory reform.
BMO ChinaCo represents another milestone
on a list of BMO firsts in Greater China,
including:
18 BMO Financial Group 193rd Annual Report 2010
Leadership in China
BMO ChinaCo
“Our presence in
China is unmatched
by our peers.
We are here because
of our customers.”
Gilles Ouellette
President and
Chief Executive Officer,
Private Client Group
Chairman of the Board,
BMO ChinaCo (Ltd.)
Tina Zheng
Director and General Manager,
Beijing Branch, Bank of Montreal
(Clockwise from top left) Ribbon-cutting ceremony celebrating the founding of BMO ChinaCo. The headquarters
of our China operations – Beijing’s China Central Place. The Honourable Chuck Strahl, federal Minister of Transport,
Infrastructure and Communities, congratulates BMO and welcomes new opportunities for trade.
“ There is tremendous
potential for business
between our countries
and BMO’s China team is
proud to be the bridge.”
• First and only Canadian bank as Co-Lead
Manager of Bank of China’s US$11.2 billion
IPO, and Co-Manager of IPOs by major
Chinese banks including CMB, ICBC, CITIC
Bank and ABC
• First Canadian bank to offer derivative
services
• First and only Canadian bank chosen
as market maker for FX trading in China
• First foreign bank permitted to invest
in a Chinese mutual fund company
With branches in Beijing, Shanghai,
Guangzhou and Hong Kong, as well as
our investment banking representative
office in Beijing, representative office
in Taipei and ownership position in Fullgoal
Fund Management, BMO’s presence in
China is unmatched by its peers.
BMO was recognized by the Canada China
Business Council with the 2010 Extraordinary
Achievement Award, nominated by SunLife
Financial and Agricultural Bank of China.