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BMO Blends Private Bank, Brokerage Into Single Unit
Tom Burroughes
17 January 2019
Toronto-listed BMO Financial Group has swept two of its businesses – a private bank and brokerage organization – into a single business known as BMO Private Wealth Canada and Asia. Andrew Auerbach, currently head of BMO Nesbitt Burns, will lead BMO Private Wealth Canada and Asia, it said. To see a report on a set of UHNW-focused hires at the wealth arm of BMO last year, click here.
The lender has unified its BMO Private Banking and full-service brokerage BMO Nesbitt Burns, under one leadership team, it announced this week.
The older brands will continue to be used for clients, the group said. BMO's Canadian Private Wealth business will also continue to build on its linkage with BMO's Private Bank in Asia, to support Asian clientele.