Exhibits
The Corporate Archives curates physical and digital exhibits from our collections to tell BMO’s story over the years. Our aim is to provide a better understanding of the defining moments in our history.
BMO worldwide: Snapshots of international branches
Over our 205+ years of history, BMO has established an international presence that has encouraged global trade and provided our customers with access to banking services around the world. From opening its first international office in New York City to establishing the first Canadian office of its kind in Tokyo, this exhibit offers a glimpse into some of the global locations BMO has operated in over the years.
New York City, U.S.A.
BMO first set out to establish an international presence in 1818, only one year after the establishment of the bank, with the appointment of Prime, Ward, and Sands as its agents in New York City. By 1859, the bank opened a New York City office at 23 William Street. A series of moves to larger premises followed as business increased. It was the first permanent office of a Canadian bank in the United States.
California, U.S.A.
BMO’s presence in California dates to 1864, when the Bank of British North America (BBNA), which merged with BMO in 1918, opened in San Francisco. At the time, with the success of the Californian gold mining camps and the first transcontinental railroad (also known as the “Pacific Railroad”), the bank wanted to ensure they were there to provide banking services to this fast-growing city.
Later, in 1963, just one year before BMO celebrated 100 years in California, we opened a modern office in Los Angeles to better serve the community. The opening of this office was marked by a visit from G. Arnold Hart (President, Bank of Montreal).
London, England
In 1870, BMO opened its first office in London, England. At the time, the bank was the principal agent for servicing Canada’s rapidly expanding foreign trade, and it was important for BMO to have a significant presence in the city. The office was first located at 27 Lombard Street and later moved to 47 Threadneedle Street in 1907.
The bank’s second office in London, Waterloo Place, opened in 1913 and served as an important centre for Canadians abroad in the early-20th century. In the October 1929 issue of BMO’s Staff Magazine, J.H. Pangham (Manager, Waterloo Place branch) recounts the services offered to customers of Waterloo Place:
“A general banking business is carried on at the Branch, and Drafts, Letters of Credit, Travellers’ Cheques and Mail and Cable transfers are issued […] A Waiting and Correspondence Room is provided for the use of clients […] A telephone is installed which has frequently been used by visitors for important messages to Canada […] Time-tables, maps, steamship sailing lists, air routes […] are furnished gratis. In the busy summer season the department that looks after visitors’ mail is frequently called upon to handle more than one thousand letters on the arrival days of Canadian mailboats….”
Paris, France
The bank’s Paris office first opened in the Ritz Carlton building at No. 17, Place Vendôme, in 1919. Only two years later, the rapid growth of business required a move to larger premises and an increase in staff from 8 to 31. Employees were tasked with foreign exchange, issuing travellers’ cheques, and helping French companies establish operations in Canada.
Much like Waterloo Place in London, the Paris office also served as a hub for Canadians abroad. The office was equipped with a Visitors’ Room, where travelers could write letters home and peruse Canadian periodicals. Canadians traveling for business or leisure could even arrange to have their cables and telegrams sent to the office.
Mexico
The bank opened the first of its Mexico branches in Mexico City in 1906. Business expanded in the 1920s. In 1923, the Mexico City branch moved to larger premises in the centre of the city’s financial district. At the request of bank customers, branches were also opened in Veracruz and Puebla in 1922 and 1923 respectively. By 1924, two additional branches had opened in Guadalajara and Monterrey.
France and Germany
Following World War Two, BMO partnered with the Canadian Defence Community to create branches on military bases abroad to better provide banking services to our servicemen and women.
Branches were set up on Royal Canadian Air Force (RCAF) bases in France (Marville, Grostenquin, Metz) and Germany (Zweibrucken, Baden-Baden, and Lahr). The Canadian Army was similarly served by BMO at German branches in Soest, Hemer, and Werl.
At these military branches, employees transferred funds to and from Canada, made personal loans, and provided funds in various currencies. For example, in addition to carrying the local currency, the Zweibrucken branch also carried US dollars, British pounds, Spanish pesetas, and Italian lira.
Tokyo, Japan
BMO opened its Tokyo, Japan representative office in 1962. The office opened after Leonard Walker (later President and CEO, Bank of Montreal) and Don McCallum (Superintendent, International Division) embarked on a tour of Asia and identified the enormous potential for Pacific business growth. It was the first office of its kind opened by a Canadian bank in Japan.
In addition to providing financial assistance and advice for Canadian businesses with dealings in Asia, the office in Tokyo also served Japanese companies and customers in Korea.
China
At the end of 1969, the bank’s Hong Kong representative office opened to facilitate trade between China and Canada. BMO’s presence in China continued to grow with the establishment of the Beijing representative office in 1983. At the request of the bank, Thomas Mah, the bank’s first Chinese Canadian branch manager, came out of retirement and lived in the People’s Republic of China for five months in order to help prepare the office for opening.
Today
Today, BMO operates as the 8th largest bank in North America by assets. We provide personal and commercial banking, global markets, and investment banking services to 13 million customers.
We’re proud to be fueling progress for individuals, families and businesses across North America. Through our strategically located international network in Toronto, London, Hong Kong, Guangzhou, Beijing, Shanghai, Taipei, India, Mexico City, and Rio de Janeiro, BMO is able to offer a full range of services in the major financial centers around the world.