BMO looking to hire investment bankers in U.S.

Mon Jun 27, 2011 3:34pm EDT
 
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By Paritosh Bansal and Nadia Damouni

NEW YORK (Reuters) - Bank of Montreal's BMO Capital Markets, fresh from a two-year hiring spree, is further staffing up its U.S. investment bank to take advantage of a surging market for merger advisory.

The bank is planning to hire investment bankers in the United States for its financial services, real estate and technology teams this year, Perry Hoffmeister, head of U.S. investment and corporate banking, told Reuters in an interview on Friday.

BMO has jumped higher in the rankings for advising mid-sized companies, according to data compiled by Thomson Reuters.

It has also won advisory roles in bigger deals recently, having advised IntercontinentalExchange in its $11 billion bid for NYSE Euronext.

The bank hired aggressively through the financial crisis, recruiting more than 130 people, including bankers and traders, in the U.S. business since 2009. It has already hired 32 people so far this year.

In financial services, the bank will add insurance investment banking to its specialty finance and exchanges coverage, he said.

"One of the strategic decisions BMO made a couple of years ago was to take advantage of the financial crisis and the strength with which BMO came through that crisis to really build out the U.S. and hire a number of professionals who otherwise might not have been available," said Hoffmeister.

Hoffmeister was among the bank's hires during the financial crisis, joining in April 2010 after a career spanning two decades at Lehman Brothers.   Continued...

 
<p>A Bank of Montreal sign is pictured in downtown Ottawa March 3, 2009. REUTERS/Chris Wattie</p>