BMO Expands Presence in Japan with Securities License
BMO Financial Group (TSX: BMO) has received a Securities License in Japan, allowing the company to market, sell, and distribute foreign fixed income securities. This strategic move enhances BMO's service offerings to existing clients and helps attract new clients who prefer onshore banking. It aligns with BMO Capital Markets’ plan to build a premier distribution capability. The license comes after a review indicating strong demand for BMO's products in Japan, which is a significant foreign holder of US Treasuries and Canadian bonds.
- Expansion into Japan's financial market enhances service offerings.
- Strategic alignment with BMO Capital Markets' goal for premier distribution capability.
- Potential to tap into a deep pool of Global Markets talent.
- None.
- License enables BMO to engage in the marketing, sale and distribution of foreign fixed income securities
TORONTO, Aug. 4, 2022 /PRNewswire/ - BMO Financial Group (TSX: BMO) (NYSE: BMO) today announced its registration as a Securities Licensed company in Japan, marking the expansion of its footprint in the world's third largest economy and Canada's fourth largest export partner. The license enables BMO to enhance the service it provides to existing clients, attract new clients who prefer to deal with onshore banks, and engage in the marketing, sale and distribution of foreign fixed income securities including US & Canadian Rates, Credit and Securitized Products, setting the foundation for expansion of other BMO businesses.
"We're excited about our growth potential in Japan and the opportunity to better serve our growing onshore client base with product expertise well suited to the needs of domestic Japanese investors," said Rob Yeung, Country Head of International & Head of Global Equities and Financing Solutions, BMO Capital Markets. "Expanding our business in Japan aligns with BMO Capital Markets' strategy to build a premier distribution capability both Internationally and in North America. We're looking forward to being able to tap into a deep pool of Global Markets talent to complement our Asia coverage efforts."
"BMO applied for a Securities license after a strategic review that showed a high correlation between our Global Markets products and demand in Japan," said Yuko Kamiya, Representative Director, BMO Japan Securities Ltd. in Japan. "Japan is the largest foreign holder of US Treasuries, large investors of mortgages and securitized products and one of the most active foreign participants in Canadian bonds."
BMO opened its first Representative office in Japan in 1962, followed by a bank branch that operated from 1981 until 1996. Since then, BMO's Japanese clients have been served from its Hong Kong branch. In 2020 BMO established a Tokyo Representative office, paving the way for the establishment of the newly licensed BMO Japan Securities Ltd.
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of
View original content:https://www.prnewswire.com/news-releases/bmo-expands-presence-in-japan-with-securities-license-301600494.html
SOURCE BMO Financial Group
FAQ
What does BMO's Securities License in Japan enable?
When did BMO announce its Securities License in Japan?
How does BMO's expansion impact its clients in Japan?
What is the significance of Japan for BMO's business?
How has BMO operated in Japan prior to this license?
