Established in 1817, the Bank of Montreal (BMO) is Canada’s oldest bank and one of its largest, with eight million customers across the country. The company has three main subsidiaries: BMO Harris Bank provides commercial and retail services in the US, BMO Capital Markets provides investment management and BMO Nesbitt Burns is its investment advising firm.
The Canadian Imperial Bank of Commerce (CIBC) is one of Canada’s oldest banks—2017 marked its 150th year in business. It is also one of the largest. Its four business units—personal banking, Canadian commercial banking and wealth management, American commercial banking and wealth management, and capital markets—control an asset base topping C$565 billion.5