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BMO Capital Markets Adds Trade Finance Capability in Hong Kong

November 18, 2014, 08:04 AM
Filed Under: Industry News

BMO Capital Markets, the investment & corporate banking arm of BMO Financial Group, is adding trade finance booking capabilities in Hong Kong as it moves to serve more trade in Asia.

Upgrading its Trade Finance capability in Hong Kong, a huge global trade hub, broadens the BMO Capital Markets footprint to better meet the demands of the evolving market and its clients. The enhanced capabilities in Hong Kong will also put BMO in a strong position to serve North American clients in offshore Renminbi (RMB), following the agreement this month between China and Canada to work toward the establishment of a Canadian RMB trading hub.

"The Hong Kong location allows us to serve customers in Asia, in the local time zone, with local currency, in support of their commercial trade activities," said Peter Grills, Managing Director, Trade Finance, BMO Capital Markets. "Through this, we can continue providing our clients with the exceptional service and expertise that we're known for."

"Trade Finance booking capability at our BMO Hong Kong Branch further strengthens the overall platform in Asia . This is complementary to our capabilities in Mainland China via Bank of Montreal (China) Co. Ltd. We are one of only three China incorporated subsidiaries of North American Banks," said Albert Yu, Chief Executive Officer Asia, BMO Financial Group. "We're here to help our clients to manage their trade activities more effectively. Our vision is to define great customer experience."

The new trade finance capabilities will serve multiple client segments, including:

  • Multinational corporations with operations in Hong Kong
  • Local companies and Mainland subsidiaries with Hong Kong operations
  • Financial institution clients who are active and have cross-border trade finance needs in Hong Kong

The BMO Capital Markets International Financial Institutions Group has relationships with some 1,200 banks in more than 100 countries. Its Trade Finance Group has relationships with thousands of companies across North America, Europe and Asia, and BMO was the first Canadian bank with a wholly-owned subsidiary in China. For a fifth consecutive year, BMO Capital Markets was named the Best Trade Bank in Canada in June by London-based Trade Finance Magazine, as well as being awarded Best Supply Chain Finance Bank in North America.

BMO's Trade Finance Group advises clients at every stage of growth, whether they are a growing, independent, middle-market enterprise or a large publicly traded firm involved in international trade across a number of sectors. From risk mitigation to supply chain finance and trade payables processing, BMO specializes in anticipating and responding to the impacts of fluctuating interest rates and currency values on international trade, managing financial relationships with trading partners and navigating the regulatory landscape.

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