BMO Financial Group
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NYSE : BMO

BMO Financial Group

October 23, 2015 10:00 ET

BMO Financial Group Chooses Nova Centre for New Atlantic Regional Headquarters and Operations

- BMO Bank of Montreal and BMO Nesbitt Burns Main Branches, as well as BMO Private Banking, Commercial and Corporate Finance operations, to be relocated to Nova Centre Office Tower

- BMO Regional Headquarters and support services also moving to Nova Centre Office Tower, to be branded as BMO Tower

HALIFAX, NOVA SCOTIA--(Marketwired - Oct. 23, 2015) - BMO Financial Group today announced that it will relocate its Atlantic Canada headquarters and support services, its main BMO Bank of Montreal and BMO Nesbitt Burns branches, as well as BMO Private Banking, Commercial and Corporate Finance offices to the new Nova Centre, the largest ever commercial project in Halifax. The project is located at the corner of Prince St. and Argyle St.

As a result of a 10-year lease agreement, that includes a 20-year extension option and corresponding naming-rights agreement between Argyle Development Inc. and BMO, the office tower at Nova Center will be branded as the BMO Tower.

BMO Bank of Montreal's main Halifax branch will be located on the main floor, with a planned opening in December 2016. BMO Nesbitt Burns, BMO Private Banking and BMO's personal and commercial banking operations and services are scheduled to move into their new premises in March 2017.

As a result of the move, BMO will consolidate all of its lines of business under one roof, enhancing the customer experience. Some 200 BMO employees will occupy two office floors and some 36,000 square feet, in addition to the 4,200 square foot retail BMO Bank of Montreal branch that will be located off a major entrance to the complex.

"We are thrilled by the move to the new Nova Centre that will enable us to bring under one roof our team of BMO professionals and experts, supported by state-of-the-art technology, to offer an exceptional experience to our personal and commercial clients," said Carolyn Booth, Senior Vice President, Atlantic Provinces Division, BMO Bank of Montreal. "As BMO's 200th anniversary fast approaches in 2017, this important private investment demonstrates our confidence in the future growth potential of Halifax and Atlantic Canada, with the BMO Tower becoming a landmark of our city," added Ms. Booth.

Halifax and Atlantic Canada's stable economic growth and household formation over the past two decades have led BMO to invest and grow its retail and commercial banking presence along with its full personal, private banking and investment services. "During the 2014-2015 time frame, we will have invested some $7 million in our retail banking branches in the greater Halifax area, including a new branch in Bedford West as well as relocated branches in Bedford, Mic Mac Mall and Spring Garden," noted Ms. Booth.

Rick Thomson, Vice-President of BMO Private Banking, noted that the prestigious new address and office setting will enable his team of multi-disciplinary experts to meet rapidly evolving client needs while ensuring the future expansion of BMO Private Banking operations, as the affluent population in Nova Scotia continues to increase.

Sylvain Brisebois, Regional Manager of BMO Nesbitt Burns, also commented on the relocation of his firm's main local office to the BMO Tower. "Working closely with our different BMO lines of business will position us to fully meet all our clients' investing or financial needs, whatever the level of complexity."

Joe Ramia, President of Argyle Development Inc., extended a warm welcome to BMO, "BMO is a great Canadian company and I am delighted with their decision to locate their Atlantic Canada headquarters at Nova Centre," said Mr. Ramia. "I look forward to BMO Tower at Nova Centre becoming the choice address for business in Halifax."

About BMO Financial Group

Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of approximately $672 billion as of July 31, 2015, and more than 47,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.

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