BMO Capital Markets Trading
Does anyone have any info on BMO trading desks? Are they known for anything besides CAD fx? Are they regarded well on the street at all?
Thanks guys, I really appreciate it.
Does anyone have any info on BMO trading desks? Are they known for anything besides CAD fx? Are they regarded well on the street at all?
Thanks guys, I really appreciate it.
+21 | Should make a move in the early stage?(TLDR) | 2 | 5h | |
+18 | How to become a Real Time Power Trader? | 5 | 15h | |
+12 | dwindling hopes of Commodity Trading | 3 | 1d | |
+12 | Base salaries for BB S&T? | 2 | 2h | |
+9 | AM LO vs Commodity Trading | 0 | 2h | |
+9 | How long does it take to be an independent structurer | 1 | 3d | |
+9 | Summer Intern Projects | 1 | 8h | |
+9 | BNP Paribas Rep - S&T --> IB/Private Credit | 1 | 5h | |
+6 | Wells Fargo Fixed Income vs TD Securities Fixed Income | 8 | 6h | |
+5 | LNG Trade Shops | 3 | 1d |
Career Resources
Isn't scotia capital well known for their fx desk ?
Not sure about that either. It's hard to find info on the canadian banks with the same detail as the info available on US/Euro banks.
T.O office deals with FX (not sure why youd specify CAD as they do it all..) and commodities, big energy plays. Theres a Montreal operation as well, pretty small, mostly deal with CAD equities.
Do you know if the NYC office is known for anything in particular? I know there are at least US/CAD equities, FX, options, and commodities there.
I am seriously interested in the bank because the people seem really awesome, and my only reservation is what I will get out of the experience of working there.
I mentioned CAD fx because that's the only specific thing I have heard anyone mention about them.
As mentioned, the NYC office expanded into equities recently.
Big focus on growth in North America right now, which is good for moving up the ladder.
Very lean company - employees need to perform.
S&T Analyst program is well respected and provides great training from the people I have spoken with. Rotational across various desks ~ 3 months each.
BMO split up their ops in the USA with: commodities - it ties into their Equity derivatives unit; and then FX with IR der's and others (FI options, treasurys, mortgage orig, trade finance). IBD is a whole other category, but thats only NYC with a really small shop in houston (i believe they deal with the energy sector though that is just an assumption). So for NYC, while i dont know of their particular focus on which sector of equities they deal with (or, because knowing what it was a few years back would be 'stale' info), it would be safe to say they deal with US equities (since toronto and cal will handle CAD equities) and also the main support roles for their Asian operations (Guangzhou is actually a bigger market for them than HK). A final note on NYC office, real estate is (still) big for the top BBs, and in BMOs case, their main goal is US expansion so RMBS and CMBS are some products they deal with as well.
The bank is indeed awesome, and as poster above me suggested, they are a perfect example of a non-bloated global (or, soon to be at least) bank. Hard to get into but if you do you work your ass off whether it be the T.O, NYC, or London office.
In terms of trading at BMO, most of its actually done in Chicago. After BMO bought out Harris Bank the capital markets division pretty much moved to Chicago. Very little trading is done in NYC and it is more a sales office.
BMO does all their commodity trading out of the NYC office. They have sales staff in all the other major hubs (chicago, Toronto, Calgary, Hourston etc) but all the traders are in NYC.
FX trading is all done out of Toronto but they have sales staff in NY, with equities split (US in NY, CDN in TO). The Toronto trade floor is much bigger than the NY one. Think Fixed Income is mainly in TO, but not sure about the US operations.
IB is split between Chi/NY for US accounts.
Good ppl from what I've seen.
....
From what I've read, it sounds like they're trying to grow their sales and trading business. They recently became the first Canadian banks to allow their clients in North America to complete transactions in Yuan:
http://www.bmocm.com/aboutus/news/detail/default.aspx?id=21415
There's also speculation that their parent (BMO Financial) will apply for primary dealer status with the Fed. As far as equities go, I read that they expanded their sales force, hiring seniors sales people from JPM, UBS, Barcap. The same can be said for their high-yield business. From what I've heard, it sounds like they're trying to grow their trading business. This article from investment dealers digest covers their expansion pretty well:
http://www.bmocm.com/aboutus/news/detail/default.aspx?id=21545
BMO Capital Markets Best Groups (Originally Posted: 10/11/2015)
Hi all. I'm starting FT next summer and will be going through group placement. What are the most active groups at BMO in terms of deal flow? Thanks!
NYC or Chicago?
NYC
bump
Hello, I'm still looking for info. regarding groups in BMO Capital Markets NYC.
Which groups have the best deal flow and are historically strongest at BMO NYC? I'm interested in healthcare, industrials, power & energy.
Any insight will be very much appreciated!
Bump
BMO S&T Rotational (Originally Posted: 09/23/2011)
Hi everybody,
I finally joined the community after being only an observer for quite a while. I recently (Monday) had an interview in Montreal with BMO Capital Markets for the S&T rotational program in Toronto. The second round of interviews was supposed to be today and I haven't heard back from them. Should I expect a rejection email or is it not a common practice in the business? I sent them an email on wednesday and they said they havent made a decision yet and that they will contact me shortly but I suppose its just bs to blow me off.
Thanks guys
details
about what? Me? Recent grad finance major
Some Canadian banks send rejection emails, others do not. More than likely you were not successful. Occasionally, a bank MAY contact more first round rejects if they are not happy with the final round people. I hate to break it to you, but don't hold your breath.
Thanks man! That's pretty much what I was thinking. Still it would seem that the professional thing to do would be to send out emails once the decision is made.
Does anybody know if the second round in Toronto has taken place as planned?
I was told that their final rounds would be tomorrow (Saturday)?
I think Saturday is for ibanking and their first interviews took place like 10 days ago. Friday was supposed to be for S&T. I don't know if it went as planned though.
Can you elaborate on how you got in onto the first interview?
Submitted my application through school and then they called me for the interview
Top Groups, BMO Capital Market NY (Originally Posted: 11/01/2010)
Is anyone familiar with the top groups in BMO's NY office?
mining and metals i saw mentioned but i dont know if theyre in NY or up in mont
metals in mining in canada, industrials in chicago, NYC i dont think there is anything really outstanding about equal
I am pretty sure Lev Fin is in NYC
Healthcare is in NY, I know that for sure. Not sure who else is there definitively, but HC was the first group to be based out of that office.
Anyone know about the tech group in SF?
Ah, so you got an interview for the IB Analyst job there too?
BMO Capital Markets - Top groups? (Originally Posted: 01/26/2008)
Thoughts on BMO's IB division? They seem to place well in the league tables for a MM, and there also appears to be some growth potential going forward domestically.
What are the top groups? I've heard the food & beverage group is strong, but I'm not sure if that is factualy or just hearsay.
Mining group in Toronto is very strong and hours are rough. Overall bank is middle of the pack among the "big 6" Canadians.
the metals and mining group in TO is the top group. But I have a feeling the OP is talking about NY.
I am actually interviewing with the Chicago office. Do you know much about them?
no sorry I don't know about chicago. I'm curious to know as well though, does anyone else know the answer to the OP's question?
Hello, I'm looking for info. regarding groups in BMO Capital Markets NYC.
Which groups have the best deal flow and are historically strongest at BMO NYC? I'm interested in healthcare, industrials, power & energy.
Any insight will be very much appreciated!
best group in nyc BMO is FIG
Hey, thanks for your response. Could you possibly provide a bit more color as to why FIG is the best group out of nyc?
BMO Capital Markets? - NYC office and corporate banking (Originally Posted: 06/22/2013)
Anyone know about them? Anyone here work for them? How is the culture and pay? This will be for their NYC office and corporate banking group.
Did a stint in the Chicago office and it was pretty laid back, collegial. Can't comment on the NYC office. Obviously depends on group though.
Bump
Corporate Banking group... is that traditional corporate banking or a FIG name for the M&A/Cap Markets industry vertical?
BMO Capital Markets and FBR (Originally Posted: 02/20/2008)
how do these two shops compare in terms of prestige for banking and research? what does each bank focus/succeed in? How is the culture at each? and compensation vs. street? thanks
bump
BMO has a pretty good culture. I really liked it. I interviewed and had a super day there. didn't get an offer though. don't know about the other bank
I was a SA at FBR and I like the culture alot! it was actually the company that solidified my interest in banking.
bump, specifically for ER. Thanks!
FBR has been dying of a slow and painful death.. would avoid
don't think BMO is doing that much better in terms of deal flow
Thanks for the quick response Whiskey. Aside from IB, how do their research platforms match up?
Thanks again!
not really sure... last i heard they cut a lot of people in that department as well.
BMO exit opportunities (Originally Posted: 01/26/2011)
.
it depends - which division are you talking about
I'm talking about their IBD.
Interested in this as well for both the Chicago and NY office
i meant which group specifically.. i've heard good things about their mining group - being able to land gigs in BB and some PE shops. not too sure about b school apps, but i'm sure once you're able to leverage into BB, it's much easier to go from there.
.
I know of someone that was in BMO metals & mining for 6 months before he moved over to Citi UK M&A.
I know one that went to OTPP.
BMO is the top Metals & Mining bank in the world, so I assume exit ops are good from there.
they are killing it this year. I think they were ranked number 1 in canada for M&A and equity...
The people I spoke with in Chicago said analysts place into MM PE from there (this was in an interview, so take that for what it's worth). I know a lot of senior guys are alums from Booth, so I am sure they place quite well into U of Chicago. It seems that almost all analysts get a 3rd year offer and much more than at a BB get the A to A promotion.
BMO Capital Markets - Equity research? (Originally Posted: 03/23/2008)
Anyone know anything about this firm?
How are they regarded in terms of Equity Research?
Has anyone interview with them for a SA?
anyone?
I know someone who is going to be an summer banking analyst there. At my school they recruit for this winter shadow program which occurred in January. I think it is a 3 day program at their Chicago office. Following that some of the people in the shadow program were invited to interview for the summer analyst position. I am not sure what the interview process is like though.
I spoke with them during associate IBD recruiting. They all seemed like pretty nice people for the most part, but there were a couple of guys who didn't seem too sharp. You are definitely middle market, in fact when I spoke with other middle market firms they implied that BMO was more of a boutique firm.
BMO is tops for ER in Toronto. BMO in Canada is completely different than BMO in the States.
CNDmonkey, what about their environment in Toronto IBD? I hear they are tops for Mining...
BMO S&T Rotational 2012 (Originally Posted: 09/18/2012)
Networked for awhile and finally got an interview for BMO S&T which took place yesterday. Haven't heard anything back yet. superday is on Friday, since I'm across the country I'd need to fly out there. No contact yet, how late do they schedule flights? Did I get rejected?
Anyone else interview for BMO S&T?
not trying to be a dick but probably. stay optimistic though i've had interviews where it was like 2-3 days in advance and they flew everyone out there. for a big oil company though so idk.
I heard there wasn't going to be any/much of a program this year, but to my surprise they contacted me and went through the technical test back in August. Unfortunately that was the end of the road for me as they said it was very competitive this year which to me seems like they decided to do it but most likely less spots than normal. I know they were doing interviews within days of the test.
Were you going for the CDN or US position?
I was going for a Canadian position. I got my app in through a colleague at one of my past internships at a large corporate. So my interview came purely through connections. I guess just a tough year... I'll keep my head up though. If I can't get in this year (my grad year) is there any hope breaking in next year? off-season is rare for S&T I heard.
There's always hope, just depends on the mkt conditions, company requirements, etc. It is quite rare for off-season postings at CDN BB banks. Good luck though, hopefully they are just slow to get back to you.
BMO Capital Markets in the U.S. (Originally Posted: 01/28/2007)
I am interested in your thoughts regarding BMO Capital Markets’ position in the U.S. What types of deals does BMO generally work on? What level of prestige is associated with BMO in the U.S.? Would BMO be a good place for an analyst to start a career? And finally, are the hours and compensation in line with street?
I interviewed with them (Houston), and they seem to be trying to compete in I-Banking more. They apparently have a strong corporate banking/lending business, but they are trying to break into the M&A business more by using their lending relationship to get deals. They hired a few people from the BBs, but they are still not a strong player in I-banking. From what they told me, the hours are not quite as bad as BB, but this is usually not a good sign (in my opinion).
This information is what I inferred or was directly told in info sessions or interviews with BMO.
thanks for the insight
I got the same impression. They've hired alot of people from BB's and are moving up. They're positioning themselves just above other MM's and just below BB's. They're getting a stronger precense, but nothing spectacular.
If you're interested, I'd suggest going for M&A with them. Their coverage groups are nothing special.
Have a buddy who did his SA and just completed his first year FT at BMO...nothing but good words about the culture. From what I have heard, I believe their Chicago office is strongest.
BMO NYC Groups (Originally Posted: 11/08/2010)
Hi All,
Can someone post a complete list of groups at the NYC BMO office? I would really appreciate it. I'm interviewing this week... Also, is the WSO tech interview guide enough to know for technical questions from this bank?
Thanks!
bump. silver banana to a thorough answer! Thanks.
I will second the silver banana offer. I interviewed with them and honestly can't really remember the technicals I got -- there were not that many. First round I was asked FCF, actually check this out: //www.wallstreetoasis.com/forums/BMO-phone-interview
Oh, and about the WSO guide, yes, that should be sufficient for all interviews -- if you understand the questions/answers in that guide, you can answer stuff that is not in there as well. Focus on experience related technicals, as those are the most likely. Really though, if you know the fundamentals, I would get your soft stuff down -- why BMO, etc. That is how you distinguish yourself, the technicals to me seem like a hurdle, very similar to GPA, work on convincing them that you:
a: want to do banking/know what it is b: you are pleasant to be around c: you are smart, in no particular order.
Obviously have a compelling story that is linear, concise and natural. I always made a list of questions, both fit and technical, that I might get as well a wrote down the names of contact at the bank so I could be prepared to answers the who have you spoken with question. Have a list of good questions also, those are another way to stand out from the sea of 3.5/6 guys with IB/PE/Accounting internships.
FYI: BMO is all about culture, every bank seems to have something that they like to say makes them different and culture is a big one at BMO, also they are growing a lot.
Hope this helps.
Business Services and Media, Healthcare, FIG, Financial Sponsors (don't think that group has dedicated analysts), Food & Consumer (mostly in Chicago, but a very small group -- I think MD, associate and analyst).
M&A (again, I think the M&A group in NY is small, mostly in Chicago), ECM, DCM/LevFin.
Minima molestias minima aut beatae harum natus. Voluptas provident enim unde officiis ad incidunt. Dolores laborum quidem ea qui adipisci. Ea dolorem similique et. Ipsum ullam placeat similique aut a maiores. Nulla voluptates corrupti cupiditate sed.
Est delectus distinctio dignissimos sed hic animi. Minus quia officiis reiciendis ab odio. Accusamus dolor ut cupiditate eveniet minima atque quaerat eos. Excepturi voluptas accusamus inventore natus est ea sapiente ea.
Sed tempora et quia. Quo aut id dolorem itaque rem vel voluptates magnam. Voluptatem in beatae non modi ducimus repudiandae iusto reiciendis. Fuga illum facere dolor numquam.
Et repellat quia laborum provident quibusdam accusamus. Quo earum quia deserunt aut corporis quia reiciendis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Non qui voluptas aut necessitatibus sit. Quae voluptas est pariatur. Nisi nobis possimus eius eveniet delectus voluptas quasi quos. Id voluptas quis hic. Maiores rerum iure ut quo ex numquam et.
Aut iusto dolorem suscipit vero aut quo perspiciatis. Autem laboriosam voluptatum enim dolores dolore itaque. Iste necessitatibus aut inventore occaecati maxime.
Et ratione est aut temporibus hic et nemo. Vel quibusdam molestiae excepturi sed. Enim vero voluptatem et dolorem qui. Ea sed possimus illum sed qui optio fugiat molestiae.
Animi odio omnis dolores. Sint nostrum sed consequatur.
Aliquid qui fugiat atque debitis voluptatem facere. Earum ut facere est quam iusto eaque voluptatem. Doloremque id corrupti quia occaecati accusantium nisi excepturi. Optio adipisci eos consectetur rerum fuga voluptatem ut.
Temporibus sapiente hic non illum. Vel dolor error aliquam. Sint fuga similique quis aut perferendis a.
Tempora voluptas ipsum hic et. Qui reprehenderit cum aut impedit laborum. Porro rerum dolorem ut consequatur incidunt est nam. Dolorum earum minus eligendi quia aut mollitia iure.
Consequatur omnis voluptas illum reiciendis fuga voluptas. Magni debitis recusandae alias facere veritatis accusantium.
Voluptatem animi doloremque quaerat reiciendis consequuntur natus et. At sed ab quod. Hic ducimus odit officia consequuntur voluptate. Voluptates quaerat aliquid est maiores recusandae omnis consequuntur unde.
Laboriosam laudantium sed sed aliquid. Qui quos est qui pariatur laudantium deleniti et.
Aut est aperiam deleniti et molestias qui. Iure consequuntur quam quidem. Libero error omnis placeat dolor non. Eos sit qui et ipsam maiores quo harum.
Provident eum quae id labore dolorum nihil. Cum eos fugiat ab quia fuga animi. Qui ut illo ullam atque sint sit. Sed fuga exercitationem sunt veritatis maiores magnam.