"We are excited to be bringing
"We've been providing banking services to BMO customers for over 200 years, helping them make real financial progress, expand their businesses and drive economic growth. We look forward to working with communities across our expanded
Upon closing, BMO will welcome the nearly 1.8 million commercial, retail, wealth management and business banking customers and provide increased convenience with access to over 1,000
After closing and until conversion of the combined banks' systems, expected in early
In addition,
Nandita Bakhshi , currently Director ofBancWest Holding Inc. and ofBank of the West .Ms. Bakhshi is also currently President and Chief Executive Officer ofBank of the West and co-Chief Executive Officer and a Director ofBNP Paribas USA, Inc. She also serves on the Board of Directors ofGrameen America ; the Supervisory Board of The Clearing House;The U.S. India Strategic Partnership Forum (USISPF); and theCouncil on Foreign Relations (CFR).Ms. Bakhshi has devoted her career to inclusive, transformational and forward-looking leadership with a particular emphasis on placing women in leadership roles.Ms. Bakhshi will also be appointed Special Advisor on Integration to BMO's Senior Leadership team upon closing.Claudia Fan Munce , currently Director ofBank of the West .Ms. Munce retired in 2016 from a distinguished 30-year career at IBM as the Managing Director of theIBM Venture Capital Group and Vice President of IBM Corporate Development.Ms. Munce is a venture advisor atNew Enterprise Associates (NEA), sits on the Board of Directors ofBest Buy Corporation and Arteris I.P. and is an appointed faculty member atStanford University Graduate School of Business .
"We look forward to welcoming these two exceptional leaders to our Board of Directors," said
A link detailing the composition of the full
About
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 C$1.14 trillion as of October 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking,
Cautionary statement regarding forward-looking information
Certain statements in this press release are forward-looking statements. All such statements are made pursuant to the "safe harbor" provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements in this press release may include, but are not limited to, statements with respect to the expected closing of the proposed transaction, BMO's plans for the combined operations of
By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that our assumptions may not be correct, and that actual results may differ materially from such predictions, forecasts, conclusions or projections. We caution readers of this press release not to place undue reliance on our forward-looking statements, as a number of factors – many of which are beyond our control and the effects of which can be difficult to predict – could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: the possibility that the proposed transaction does not close when expected or at all because conditions to closing are not satisfied on a timely basis or at all or are received subject to adverse conditions or requirements; the anticipated benefits from the proposed transaction, such as it growing our
We do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by the organization or on its behalf, except as required by law. The forward-looking information contained in this press release is presented for the purpose of assisting shareholders and analysts in understanding the proposed transaction and may not be appropriate for other purposes.
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