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BMO Capital Markets Builds Investment Bank as Europeans Retreat

  • Bank of Montreal expects to beat goal for North America growth
  • The U.S. is key for BMO’s five-year capital markets ambitions
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Photographer: Brent Lewin/Bloomberg

Bank of Montreal is gunning for the U.S. investment-bank business that’s being surrendered by European firms like Deutsche Bank AG and Societe Generale SA.

The Canadian lender expects to reach its goal of being a “Top 10” North American investment bank “dramatically” ahead of its five-year deadline, Dan Barclay, chief executive officer and group head of BMO Capital Markets, said in an interview at the firm’s Toronto headquarters.