Bank of Montreal 2014 Annual Report Download - page 43

MD&A
MANAGEMENT’S DISCUSSION AND ANALYSIS
BMO Capital Markets
Darryl White
Group Head
BMO Capital Markets
BMO Capital Markets is a North American-based financial services provider offering
a complete range of products and services to corporate, institutional, and
government clients. BMO Capital Markets has approximately 2,400 professionals in
29 locations around the world, including 16 offices in North America.
Lines of Business
Investment and Corporate Banking offers clients debt and equity
capital-raising services, as well as loan origination and syndication,
balance sheet management solutions and treasury management
services. We provide strategic advice on mergers and acquisitions,
restructurings and recapitalizations, as well as valuation and fairness
opinions. We also offer trade finance and risk mitigation services to
support the international business activities of our clients and provide
a wide range of banking and other operating services tailored to
North American and international financial institutions.
Trading Products offers research and access to global markets for
institutional, corporate and retail clients through an integrated suite
of sales and trading solutions that include debt, foreign exchange,
interest rate, credit, equity, securitization and commodities. We also
offer new product development and origination services as well as
risk management (derivatives) advice and services to hedge
against price fluctuations on a variety of key inputs, including
interest rates and commodities. In addition, we provide funding
and liquidity management to our clients.
Strengths and Value Drivers
‰A unified coverage approach and integrated distribution that creates
an exceptional client experience across our North American platform,
together with a complementary international presence in select
industry sectors.
‰Innovative ideas and expertise delivered through our top-tier
coverage team, dedicated to understanding and meeting our core
clients’ needs.
‰Top-ranked equity and fixed income research, sales and trading capa-
bilities with deep expertise in core sectors.
‰Focus on first line of defence risk management capabilities enabling
effective decision-making in support of our strategy and client
experience.
Strategy and Key Priorities
BMO Capital Markets’ vision is to be the lead investment bank that
enables our clients to achieve their ambitions. We offer an integrated
platform that is differentiated by leading ideas and unified coverage.
Continue to earn leading market share in Canada by delivering
leading ideas through our top-tier coverage team
2014 Achievements
‰Named 2014 Greenwich Quality Leader for Canadian Fixed Income
Research, Canadian Equity Sales, Canadian Equity Research and Ana-
lyst Service, Canadian Mergers and Acquisitions and Canadian Equity
Capital Markets by Greenwich Associates.
‰Ranked #1 (tied) as a Greenwich 2014 Share Leader in Canadian
Investment Banking Market Penetration and #3 (tied) in Canadian
Large Corporate Cash Management Market Penetration by Greenwich
Associates.
‰Ranked #2 (tied) as a 2014 Greenwich Share Leader for Canadian
Equity Trading Share and #3 (tied) in Canadian Equity Research/
Advisory Portfolio manager Vote Share by Greenwich Associates.
‰Ranked #2 as a 2014 Greenwich Share Leader in Canadian Foreign
Exchange Market Share by Greenwich Associates.
‰Named Best Bank in Canadian Dollar Foreign Exchange by FX week
magazine for the fourth consecutive year.
2015 Focus
‰Continue to earn leading market share in Canada without taking out-
sized risk.
Leverage our North American capabilities in select strategic sectors
in international markets to expand our client offering
2014 Achievements
‰Named World’s Best Metals & Mining Investment Bank for the fifth
consecutive year by Global Finance magazine.
‰Named Best Trade Bank in Canada for the fifth consecutive year and
named Best Supply Chain Finance Bank in North America by Trade
Finance magazine.
‰Co-financial advisor on one of the largest mining deals in recent years,
representing the U.K.-based seller.
2015 Focus
‰Continue to serve global clients with North American interests and
extend our global leadership in select strategic sectors.
Drive performance in our U.S. platform by leveraging our expanded
distribution capabilities and focused research and coverage in
strategic sectors
2014 Achievements
‰Ranked among Top 20 global investment banks, and 13th-largest
investment bank in North and South America based on fees by
Thomson Reuters.
‰Increased investment banking market share by 10% in our target U.S.
mid-cap market year over year using Dealogic data.
‰Increased equity-raising lead mandates by 85% year over year.
‰Grew market share by 38% year over year in U.S. Equity Sales
and Trading.
2015 Focus
‰Continue to drive performance in our U.S. client franchise with a
greater weighting in corporate banking to further support our clients
and the stability of future earnings.
54 BMO Financial Group 197th Annual Report 2014