Who Owns BMO?
BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.
 |
When you think of big banks in North America, BMO would be higher on the list. With over two centuries of financial history, it blends tradition and innovation.
But who owns it? Discover the key players driving this banking juggernaut forward.
About BMO
Bank of Montreal, or BMO, is one of the largest banks in Canada, with a mind-spinning $1.4 trillion in total assets.[1]
But did you know this bank opened its first agency in New York only months after its founding in 1817? This means it's also a well-established bank in the country.
For many years, it was known as BMO Harris Bank N.A. until it recently changed its US legal name to BMO Bank N.A.
BMO offers various personal and commercial banking products, including checking and savings accounts, credit cards, mortgages, and loans.
Who Currently Owns BMO?
BMO does not have a single individual or entity owner. Instead, its ownership is distributed among thousands of investors worldwide. The largest shareholders are institutional investors, mutual and hedge funds, and other banks.
BMO Nesbitt Burns is the premier investment and wealth management arm of BMO Financial Group. It operates independently, providing individualized services to high-net-worth clients and fostering long-term relationships with them.
Who Are BMO's Major Shareholders?
Here are the top 5 BMO shareholders:
- Royal Bank of Canada (7.92%)
RBC is the largest bank in Canada by market cap. Like BMO, they have a suite of personal and commercial banking services, including wealth management, insurance, and capital markets. It has 57 million+ BMO shares valued at over $4.7 billion.[2] - Vanguard Group Inc. (4.02%)
Founded in 1975 by John C. Bogle, Vanguard is one of the biggest and most prolific institutional investors. This investment management company is unique because it's owned by its funds, which are, in turn, owned by the investors in those funds.As of September 2024, Vanguard has 29 million+ shares in BMO, estimated to be worth $2.4 billion+.[2]
- Bank Of Montreal Canada (3.75%)
Unsurprisingly, BMO Canada holds a decent number of shares in its US subsidiary, the third highest with more than 27 million shares.[2] The company also has a diversified portfolio, with institutional holdings in the energy, healthcare, and technology sectors, among others. - TD Asset Management Inc. (2.57%)
This is a TD Bank Group subsidiary based in Canada. TD Asset Management Inc. is one of the largest asset managers, emphasizing delivering long-term value to its global clients. This investment management firm holds 18 million+ shares valued at around $1.5 billion.[2] - CIBC World Markets Inc. (2.39%)
Aside from helping clients raise capital by issuing stocks or bonds, CIBC World Markets also provides corporate lending and syndicated loans. It enables large companies to use a mix of debt instruments to meet large financing needs.Its BMO shares have reached 17 million+ worth over $1.4 billion in the current market.[2]
Other Canadian firms with substantial stakes in BMO include:
- National Bank Of Canada (2.02%)
- Bank Of Nova Scotia (1.66%)
- Mackenzie Financial Corp (1.57%)
- Fidelity International Ltd (1.31%)
- Norges Bank (1.18%)
BMO is a publicly traded company, meaning it's owned by its shareholders. Its shares are listed on both the Toronto Stock Exchange and the New York Stock Exchange. As such, BMO can raise capital from a wide range of investors by selling shares.
What Bank is BMO Merging With?
In February 2023, Bank of Montreal completed its acquisition of Bank of the West, a US subsidiary of BNP Paribas, to the tune of $16.3 billion[3]. This is a significant move for BMO, further expanding its presence in the American banking market, particularly on the West Coast.
Meanwhile, BMO has closed multiple merger and acquisition deals over many years, the first being Harris Bankcorp, a Chicago-based bank. This is what gave birth to the name BMO Harris Bank N.A.
Since then, more banks and companies have been acquired, including Marshall & Ilsley. It's a Milwaukee-based bank that BMO purchased for $4.1 billion[4] in 2011.
BMO is neither a Chinese bank nor owned by China. Its ownership, management, and operations are rooted in Canada. Nonetheless, BMO has growing ties with China, especially with BMO ChinaCo, which is the first and only wholly-owned subsidiary Canadian bank in Mainland China.
Is BMO Safe?
BMO is generally considered a safe banking option. Here's why:
It's one of Canada's Big Five banks.
As the oldest banking institution in the Great White North, it continues to be a major force in the industry with over $60 billion market cap[5].
It's regulated by the OSFI
and the Federal Reserve.
These regulators enforce high capital requirements, risk management, and consumer protection standards.
It's covered by the CDIC/FDIC.
Whether you are banking in the US or Canada, your eligible deposits are protected up to certain limits.
It usually receives high credit ratings.
With favorable ratings from Fitch and S&P Global, they may reflect BMO's solid financial health and ability to meet its obligations.
Yes, BMO is considered a big bank, given its total of $1.4 trillion in assets, global reach, and comprehensive services.
Bottom Line
While BMO isn't owned by a specific individual or entity, Royal Bank of Canada and investing giant Vanguard are just some of the biggest names that hold substantial stakes in it. Ultimately, this signals that the bank is seen as a solid investment by key players in the financial world.
References
- ^ Bank of Montreal. Who We Are, Retrieved 9/09/2024
- ^ Nasdaq. Bank Of Montreal Common Stock (BMO) Institutional Holdings, Retrieved 9/10/2024
- ^ Bank of Montreal. News Releases, Retrieved 9/10/2024
- ^ Bank of Montreal. BMO Financial Group to Acquire Marshall & Ilsley Corporation (M&I), Retrieved 9/10/2024
- ^ Nasdaq. Bank Of Montreal Common Stock (BMO), Retrieved 9/10/2024
Chase Total Checking® - $400 Bonus
- New Chase checking customers can receive $400 when you open a Chase Total Checking® account and make direct deposits totaling $1,000 or more within 90 days of coupon enrollment.
- Unlock more offers with Chase. Get up to $500 per calendar year by referring friends and family. Plus, get cash back from top brands with Chase Offers when you use your debit card.
- Chase Total Checking® has a $15 monthly service fee, you can easily avoid the fee with direct deposits totaling $500 or more, or a minimum average daily balance each statement period.
- Chase Overdraft Assist℠ – no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
- Chase Mobile® app makes banking simple. Manage accounts, pay bills, send money to friends with Zelle® and deposit checks on the go with Chase Quick Deposit℠.
- Chase has the largest branch network in the U.S. with thousands of ATMs and branches. Use the Chase locator tool to find a branch or ATM near you.
- Chase helps keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
Bank of America Advantage Banking - Up to $500 Cash Offer
- The cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 05/31/2026.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days.
Cash Bonus Total Qualifying Direct Deposits $100 $2,000 $300 $5,000 $500 $10,000+ - If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
- Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
U.S. Bank Business Essentials - $400 Bonus
Promo code Q1AFL26 MUST be used when opening a U.S. Bank Business Essentials® or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 1/15/2026 and 3/31/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.
Business Essentials: $400 bonus with $5,000 new money deposits, daily balance, and 6 qualifying transactions.
Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank Mobile Check Deposit, electronic or paper checks, Bill Pay (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible.
New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period.
Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance.
Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify.
All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
Member FDIC
Wells Fargo Everyday Checking Account - $325 Bonus
- Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
- Wells Fargo Bank, N.A.
Member FDIC
CIT Bank Platinum Savings - 3.75% APY
- 3.75% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
Penelope Besana is a research analyst at CreditDonkey, a bank comparison and reviews website. Write to Penelope Besana at penelope.besana@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
|
|
| ||||||
|
|
|
Compare:
