BMO Financial Group today said that BMO Capital Corp. will be transferred to BMO Capital Partners, a new group under BMO Bank of Montreal's corporate finance division.
This change, the bank said, signifies a strengthened commitment to offer subordinated debt and private equity to Canadian market clients.
"This change significantly raises the bar when it comes to our focus on the customer," said Steve Somerville, president at BMO Capital Corp. "It will allow us to provide a more responsive, effective, and efficient offering to our mid-market clients, and help us set ourselves apart from our peers as a trusted advisor."
BMO Capital Partners will facilitate subordinated debt lending and private equity investment activities for mid-market customers.
Operating as a fully integrated and coordinated part of BMO's Corporate Finance Division, mid-market clients of BMO Capital Partners will also have access to a full suite of commercial products and services such as senior debt, cash management, asset-based lending, merger and acquisition advisory, underwriting and syndication services, as well as specialized areas including real estate finance and dealership finance.
BMO Capital Partners will maintain offices established by BMO Capital Corp. across Canada in Vancouver, Calgary, Toronto, and Montreal. The change will be effective from Nov. 1.