The BMO Financial Group has established a representative office in the Middle East based in Abu Dhabi. It “will provide regional relationship coverage for institutions in the MENA and make a broader array of asset management and investment banking services available to its clients in the region”.
Bill Downe, president and chief executive officer, said, “The opening of this office exemplifies the growing ties between North America and the Middle East.
“After nearly half-a-century of close client relationships in the region, BMO is proud and honoured to become the first Canadian-based bank with a presence in Abu Dhabi. We look forward to strengthening our long-standing ties with the region and to developing many more strong and fruitful relationships in the years ahead.”
“The investment management market in the Middle East amounts to more than $2 trillion and is growing rapidly,” said William Smith, Head of Europe and Middle East, BMO Financial Group. “We are further strengthening our commitment to the Gulf Cooperation Council states by bringing together the full breadth of BMO’s capabilities and expertise to our clients in the region.”
BMO has appointed Joseph Georgie as general manager of the office. He has been responsible for the bank’s relationships with financial institutions in the Middle East and North Africa for more than 15 years.
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organisation with total assets of $538bn and more than 47,000 employees.