Deals
Bank of Montreal and CIBC Are Squaring Off in Chicago
- Canadian banks favor internal growth to protect Chicago turf
- BMO Harris pursues digital push as CIBC seeks retail deposits
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For a decade, Bank of Montreal executives eyed with envy Chicago’s bustling corner of West Washington Street and North Wacker Drive.
The location, across from the 1920s-era Civic Opera House, sees thousands of weekday commuters shuttling between rail stations by the Chicago River and offices in the Loop business district. In other words, a perfect spot for a BMO Harris Bank branch, if it wasn’t for the McDonald’s restaurant on the corner.