Public-listed financial services provider, BMO Financial Group announced yesterday that it has obtained a securities license in Japan to boost its regional presence. Through the license, the financial giant will be able to engage itself in sales, marketing and distribution of fixed-income securities.
Almost six decades ago, BMO established its first representative office in Japan. Since then, the company has expanded its services significantly in the world’s third-largest economy.
With total assets of $1.04 trillion, BMO is the 8th largest bank by assets in the North American region. According to the details shared by the company, BMO Japan Securities will play an important role in its global expansion.
"We're excited about our growth potential in Japan and the opportunity to better serve our growing onshore client base with product expertise well suited to the needs of domestic Japanese investors," said Rob Yeung, the Country Head of International & Head of Global Equities and Financing Solutions at BMO Capital Markets. "Expanding our business in Japan aligns with BMO Capital Markets' strategy to build a premier distribution capability both Internationally and in North America. We're looking forward to being able to tap into a deep pool of Global Markets talent to complement our Asia coverage efforts."
BMO Financial Group
BMO offers a wide range of services related to commercial banking, wealth management and investment banking.
"BMO applied for a Securities license after a strategic review that showed a high correlation between our Global Markets products and demand in Japan," said Yuko Kamiya, the Representative Director at BMO Japan Securities Ltd. in Japan. "Japan is the largest foreign holder of US Treasuries, large investors of mortgages and securitized products and one of the most active foreign participants in Canadian bonds."
With a GDP of over $5 trillion, Japan is one of the world’s largest financial hubs.
