Who Owns BMO?

BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.

When you think of big banks in North America, BMO would be higher on the list. With over two centuries of financial history, it blends tradition and innovation.

But who owns it? Discover the key players driving this banking juggernaut forward.

About BMO

Bank of Montreal, or BMO, is one of the largest banks in Canada, with a mind-spinning $1.4 trillion in total assets.^[1]

But did you know this bank opened its first agency in New York only months after its founding in 1817? This means it's also a well-established bank in the country.

For many years, it was known as BMO Harris Bank N.A. until it recently changed its US legal name to BMO Bank N.A.

BMO offers various personal and commercial banking products, including checking and savings accounts, credit cards, mortgages, and loans.

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Who Currently Owns BMO?

BMO does not have a single individual or entity owner. Instead, its ownership is distributed among thousands of investors worldwide. The largest shareholders are institutional investors, mutual and hedge funds, and other banks.

Who Are BMO's Major Shareholders?

Here are the top 5 BMO shareholders:

1. Royal Bank of Canada (7.92%)
   RBC is the largest bank in Canada by market cap. Like BMO, they have a suite of personal and commercial banking services, including wealth management, insurance, and capital markets. It has 57 million+ BMO shares valued at over $4.7 billion.^[2]

2. Vanguard Group Inc. (4.02%)
   Founded in 1975 by John C. Bogle, Vanguard is one of the biggest and most prolific institutional investors. This investment management company is unique because it's owned by its funds, which are, in turn, owned by the investors in those funds.

   As of September 2024, Vanguard has 29 million+ shares in BMO, estimated to be worth $2.4 billion+.^[2]

3. Bank Of Montreal Canada (3.75%)
   Unsurprisingly, BMO Canada holds a decent number of shares in its US subsidiary, the third highest with more than 27 million shares.^[2] The company also has a diversified portfolio, with institutional holdings in the energy, healthcare, and technology sectors, among others.

4. TD Asset Management Inc. (2.57%)
   This is a TD Bank Group subsidiary based in Canada. TD Asset Management Inc. is one of the largest asset managers, emphasizing delivering long-term value to its global clients. This investment management firm holds 18 million+ shares valued at around $1.5 billion.^[2]

5. CIBC World Markets Inc. (2.39%)
   Aside from helping clients raise capital by issuing stocks or bonds, CIBC World Markets also provides corporate lending and syndicated loans. It enables large companies to use a mix of debt instruments to meet large financing needs.

   Its BMO shares have reached 17 million+ worth over $1.4 billion in the current market.^[2]

Other Canadian firms with substantial stakes in BMO include:

• National Bank Of Canada (2.02%)
  
• Bank Of Nova Scotia (1.66%)
  
• Mackenzie Financial Corp (1.57%)
  
• Fidelity International Ltd (1.31%)
  
• Norges Bank (1.18%)

What Bank is BMO Merging With?

In February 2023, Bank of Montreal completed its acquisition of Bank of the West, a US subsidiary of BNP Paribas, to the tune of $16.3 billion^[3]. This is a significant move for BMO, further expanding its presence in the American banking market, particularly on the West Coast.

Meanwhile, BMO has closed multiple merger and acquisition deals over many years, the first being Harris Bankcorp, a Chicago-based bank. This is what gave birth to the name BMO Harris Bank N.A.

Since then, more banks and companies have been acquired, including Marshall & Ilsley. It's a Milwaukee-based bank that BMO purchased for $4.1 billion^[4] in 2011.

Is BMO Safe?

BMO is generally considered a safe banking option. Here's why:

It's one of Canada's Big Five banks.
As the oldest banking institution in the Great White North, it continues to be a major force in the industry with over $60 billion market cap^[5].

It's regulated by the OSFI and the Federal Reserve.
These regulators enforce high capital requirements, risk management, and consumer protection standards.

It's covered by the CDIC/FDIC.
Whether you are banking in the US or Canada, your eligible deposits are protected up to certain limits.

It usually receives high credit ratings.
With favorable ratings from Fitch and S&P Global, they may reflect BMO's solid financial health and ability to meet its obligations.

Member FDIC

BMO Smart Advantage Checking Account and BMO Smart Money Checking Account - Earn $300 Cash Bonus*

$300 Cash Bonus* when you have $4,000 in direct deposits within 90 days of opening between 11/1/24 – 2/3/25. *Conditions Apply. Available in the U.S. BMO Bank N.A. Member FDIC

Click Here to Get Deal

Expires 2/3/2025

Bottom Line

While BMO isn't owned by a specific individual or entity, Royal Bank of Canada and investing giant Vanguard are just some of the biggest names that hold substantial stakes in it. Ultimately, this signals that the bank is seen as a solid investment by key players in the financial world.

References