Daily News: November 18, 2014

BMO Capital Markets Adds Trade Finance in Hong Kong

BMO Capital Markets announced it is adding trade finance 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 footprint to better meet the demands of the evolving market and its clients.

The enhanced capabilities in Hong Kong will also put BMO in a strong position to serve North American clients in offshore Renminbi (RMB), following the agreement this month between China and Canada to work toward the establishment of a Canadian RMB 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.

“We are one of only three China incorporated subsidiaries of North American Banks,” said Albert Yu, chief executive officer Asia, BMO Financial Group.