(January 16 – 12:00 ET) – William Downe, vice chairman, Bank of Montreal Private Client Group, and deputy chairman, BMO Nesbitt Burns, addressed leading financial analysts today at the RBC Dominion Securities Wealth Management Conference.

“Wealth management is a key element of Bank of Montreal’s strategy to shift its business mix to high-growth, high-return businesses,” said Downe. “This strategy is aimed at increasing earnings, return on equity and the bank’s trading multiple. It is also focused on ensuring that we achieve our over-riding objective of top-tier shareholder returns over the long run.”

In his remarks, Downe outlined why the structure, performance and strategy of the wealth management business is expected to have a meaningful impact on the Bank’s future success, and highlighted the successes of the Private Client Group over the past year.

Downe cited the continued growth of the physical distribution network with potential for targeted acquisitions involving some of the most affluent, fastest-growing urban markets in the United States; and the introduction of a unified brand structure for wealth management lines of business in Canada and the U.S.

“Our plan is to differentiate wealth management at Bank of Montreal through an approach emphasizing four critical elements: a clearly defined brand identity; the highest-quality advice; excellent product offering; and, maximum choice and flexibility for clients through targeted distribution,” said Downe.

Slides from Downe’s presentation will be posted on Bank of Montreal’s investor relations link at www.bmo.com.
-IE Staff