Comments (91)

Jan 9, 2011

Isn't scotia capital well known for their fx desk ?

Jan 9, 2011

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.

Jan 9, 2011

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.

Jan 9, 2011

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.

Jan 9, 2011

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.

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Jan 9, 2011

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.

Jan 9, 2011

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.

Jan 30, 2011

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.

Oct 11, 2015

....

Jan 31, 2011

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.a...
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.a...

Oct 11, 2015

NYC or Chicago?

Oct 11, 2015

NYC

Oct 11, 2015

bump

Oct 11, 2015

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!

Oct 11, 2015

Bump

"There's no reason to be the richest man in the cemetery. You can't do business from there." - Colonel Sanders

Oct 11, 2015
Kalzrw:

after being only and observer for quite a while.

details

I have to return some video tapes.

Oct 11, 2015

about what?
Me? Recent grad finance major

Oct 11, 2015

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.

-philly g

Oct 11, 2015

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.

Oct 11, 2015

Does anybody know if the second round in Toronto has taken place as planned?

Oct 11, 2015

I was told that their final rounds would be tomorrow (Saturday)?

Oct 11, 2015

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.

Oct 11, 2015

Can you elaborate on how you got in onto the first interview?

Oct 11, 2015

Submitted my application through school and then they called me for the interview

Oct 11, 2015

mining and metals i saw mentioned but i dont know if theyre in NY or up in mont

Oct 11, 2015

metals in mining in canada, industrials in chicago, NYC i dont think there is anything really outstanding about equal

Oct 11, 2015

I am pretty sure Lev Fin is in NYC

Oct 11, 2015

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.

Oct 11, 2015

Anyone know about the tech group in SF?

Oct 11, 2015

Ah, so you got an interview for the IB Analyst job there too?

    • 1
Oct 11, 2015

Mining group in Toronto is very strong and hours are rough. Overall bank is middle of the pack among the "big 6" Canadians.

Oct 11, 2015

the metals and mining group in TO is the top group. But I have a feeling the OP is talking about NY.

Oct 11, 2015
sammy101:

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?

Oct 11, 2015

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?

Oct 11, 2015

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!

Oct 11, 2015

best group in nyc BMO is FIG

Oct 11, 2015

Hey, thanks for your response. Could you possibly provide a bit more color as to why FIG is the best group out of nyc?

Oct 11, 2015

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.

Oct 11, 2015

Bump

Oct 11, 2015

Corporate Banking group... is that traditional corporate banking or a FIG name for the M&A/Cap Markets industry vertical?

Oct 11, 2015

bump

Oct 11, 2015

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

Oct 11, 2015

I was a SA at FBR and I like the culture alot! it was actually the company that solidified my interest in banking.

You give me a gift? BAM Thank you note! You invite me somewhere? POW RSVP! You do me a favor? WHAM Favor returned! Do not test my politeness.

Oct 11, 2015

bump, specifically for ER. Thanks!

Oct 11, 2015

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

Oct 11, 2015

Thanks for the quick response Whiskey. Aside from IB, how do their research platforms match up?

Thanks again!

Oct 11, 2015

not really sure... last i heard they cut a lot of people in that department as well.

Oct 11, 2015

it depends - which division are you talking about

Oct 11, 2015

I'm talking about their IBD.

Oct 11, 2015

Interested in this as well for both the Chicago and NY office

Oct 11, 2015

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.

Oct 11, 2015

.

Oct 11, 2015

I know of someone that was in BMO metals & mining for 6 months before he moved over to Citi UK M&A.

Oct 11, 2015

I know one that went to OTPP.

Oct 11, 2015

BMO is the top Metals & Mining bank in the world, so I assume exit ops are good from there.

Oct 11, 2015

they are killing it this year. I think they were ranked number 1 in canada for M&A and equity...

Oct 11, 2015

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.

Oct 11, 2015

anyone?

Oct 11, 2015

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.

Oct 11, 2015

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.

Oct 11, 2015

BMO is tops for ER in Toronto. BMO in Canada is completely different than BMO in the States.

Oct 11, 2015

CNDmonkey, what about their environment in Toronto IBD? I hear they are tops for Mining...

Oct 11, 2015

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.

Oct 11, 2015

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?

"Be first, be smarter, or cheat!"

Oct 11, 2015

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.

Oct 11, 2015

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.

"Be first, be smarter, or cheat!"

Oct 11, 2015

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.

Oct 11, 2015

thanks for the insight

Oct 11, 2015

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.

Oct 11, 2015

If you're interested, I'd suggest going for M&A with them. Their coverage groups are nothing special.

Oct 11, 2015

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.

Oct 11, 2015

bump. silver banana to a thorough answer! Thanks.

Oct 11, 2015

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

fdba Emory Blaine and BBA or otherwise trying to find the perfect pseudonym.

Oct 11, 2015

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.

fdba Emory Blaine and BBA or otherwise trying to find the perfect pseudonym.

Oct 11, 2015
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Oct 11, 2015
Oct 11, 2015