Bank of Montreal 2015 Annual Report Download - page 18

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MD&A
3. Leverage our consolidated North American platform to deliver quality earnings growth.
‰Continued to develop consolidated North American capabilities and platforms in priority areas:
‰Provided consistent brand messaging across the Canadian and U.S. businesses, building on shared customer insights to address the changing
expectations of the banking industry.
‰Completed a reorganization of Trading Products by asset class to further enhance customer experience and North American franchise value.
‰Maintained key North-South leadership mandates to achieve greater consistency, eliminate duplication and leverage best practices.
‰Continued to expand our business and capabilities in the United States:
‰Announced the signing of an agreement to acquire General Electric Capital Corporation’s (GE Capital) Transportation Finance business with net
earning assets on closing of approximately $11.9 billion (US$8.9 billion). The acquisition builds on our position as a market leader in commercial
banking, and enhances our business position in the United States by further diversifying net income, adding scale and enhancing profitability
and margins.
‰Improved sales productivity across key products and segments through enhanced coaching and performance management, and deployment of
customer acquisition programs.
‰Introduced compelling offers in Canada that increased sales and established and strengthened client relationships, including the new Savings
Builder Account, Spring Home Financing and Summer Everyday Banking Campaigns.
4. Expand strategically in select global markets to create future growth.
‰Completed the integration of F&C Asset Management plc (F&C), and rebranded it as BMO Global Asset Management. This acquisition strengthens
the position of BMO Global Asset Management as a top 50 global asset manager.
‰BMO served as a co-chair of the Toronto Financial Services Alliance (TFSA) Renminbi (RMB) Working Group, which played a crucial role in
establishing an offshore renminbi clearing hub in Canada. The Canadian hub facilitates settlements in renminbi, with the intention of encouraging
trade and strengthening ties between Canadian companies and their Chinese business partners.
‰Ranked among top 20 global investment banks and 12th largest investment bank in North and South America, based on fees, by Thomson Reuters.
5. Ensure our strength in risk management underpins everything we do for our customers.
‰Leveraged our capital processes to enhance our risk appetite and limit framework through further alignment with our businesses’ capacity to
bear risk.
‰Developed and embedded our stress testing capabilities in business management processes and provided additional risk insights.
‰Continued to improve risk culture as evidenced by internal and external surveys.
‰Responded to rising regulatory expectations, evidenced by improvements in stress testing, market risk measurement and anti-money laundering.
‰Continued to develop the next generation of our risk infrastructure by integrating, automating and upgrading our foundational capabilities.
BMO Financial Group 198th Annual Report 2015 29