BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group, is adding booking capabilities in Hong Kong as it moves to serve more trade in Asia.

 

Upgrading its trade finance capability in Hong Kong, a huge global trade hub, broadens the BMO Capital Markets presence to meet the demands of the market and its local clients while also serving North American clients in offshore renminbi following the agreement this month between China and Canada to work toward the establishment of a Canadian renminbi trading hub.

 

“The Hong Kong location allows us to serve customers in Asia, in the local time zone, with local currency, in support of their commercial trade activities,” said Peter Grills, managing director, trade finance, BMO Capital Markets.

 

“Trade finance booking capability at our BMO Hong Kong Branch further strengthens the overall platform in Asia . This is complementary to our capabilities in mainland China via Bank of Montreal (China). We are one of only three China incorporated subsidiaries of North American banks,” said Albert Yu, chief executive officer Asia, BMO Financial Group.

 

The new trade finance capabilities will serve multiple client segments, including: multinational corporations with operations in Hong Kong; local companies and mainland subsidiaries with Hong Kong operations and financial institution clients who are active and have cross-border trade finance needs in Hong Kong.