Bank of Montreal has opened a representative office in Shanghai, becoming the only Canadian bank to have a physical presence in the Chinese financial centre.

The new office is Bank of Montreal’s fourth location in China. The bank operates full branches in the cities of Guangzhou, Beijing, and Hong Kong.

“The new Shanghai office will enable the bank to assist its clients in their trade and investment activities in China’s financial centre and most prosperous region,” said Robert Martin, managing director, Asia, Bank of Montreal.

In addition, last year Bank of Montreal entered an alliance with the Fullgoal Fund Management Company Ltd. of Shanghai, China, to form a joint venture mutual fund company. The alliance represents a strong combination of the bank’s mutual fund and marketing expertise and Fullgoal’s strong distribution network and understanding of the local market.