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BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (TSX:BMO)(NYSE:BMO), has been named the Best Bank for the Canadian Dollar by FX Week Magazine for the third time in four years. The award was presented last night at a ceremony in London, U.K.
"BMO is a strong player in Canadian dollar market making, offering premium pricing capacity and institutional liquidity; this is a testament to our continued leadership in the space," said C.J. Gavsie, Head of Foreign Exchange, BMO Capital Markets. "Our clients face change on a daily basis, so it is important for them to have a reliable partner to whom they can turn for advice. Our team works hard to deliver industry knowledge on which our clients can depend, and winning this award again is validation of that hard work."
The winners of the FX Week Best Bank Awards are determined by votes from foreign exchange professionals from around the world and are presented annually. In the 2012 survey, respondents from banks, corporate treasurers and investors - including fund managers, institutional investors and hedge funds - nominated banks, brokers and vendors in 38 categories.
"The Best Bank Awards are a benchmark for performance in the foreign exchange industry, and are a key indicator of who is a leader in the marketplace," said Joel Clark, Editor, FX Week. "Once again, BMO has earned the No. 1 spot for the Canadian dollar, demonstrating that the firm stands out as a leader to some of the largest and most influential participants in this currency pair."
BMO Capital Markets' Foreign Exchange Products group is comprised of a team of nearly 100 professionals operating in nine cities: London, Toronto, Montreal, Chicago, Milwaukee, New York, Guangzhou, Shanghai, Beijing and Hong Kong.
The group has received numerous awards for its leadership in foreign exchange. Recent awards include:
-- "Best Forex, North America 2012" and "Best Forex Provider, China 2012,"
Global Banking and Finance Review
-- "Best FX Bank North America, 2012," DealMakers Monthly
-- "Most Popular Market Makers in China" 2011 and the "Best Non-U.S. Dollar
Market Maker" 2011, China Foreign Exchange Trade System (CFETS)
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American financial services provider, with 2,200 employees operating in 29 offices worldwide, including 16 in North America and offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group, one of the largest diversified financial services providers in North America with total assets of $542 billion and more than 46,000 employees as at July 31, 2012.
Alexis Brown, Toronto