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BMO Financial Group to Expand Japan Presence After Obtaining Securities License LeapRate

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Investment bank BMO Financial Group announced late in the day Thursday that it has acquired a securities license in Japan as it aims to extend its presence in the region.

BMO, around six decades ago, became the first Canadian bank to open an office in Japan, expanding its services and presence in the world’s third largest economy over the years. After opening its first office, BMO opened a bank branch that operated from 1981 until 1996. However, since then, its Japanese clients have been served from its Hong Kong branch.

The bank’s new license allows it to enhance the services it provides to existing clients and attract new clients. For example, BMO will now be able to engage in the marketing, sale, and distribution of foreign fixed income securities such as US and Canadian Rates, Credit, and Securitized Products.

Japan

In 2020 BMO, which has total assets of $1.04 trillion, opened up the possibility of obtaining a securities license in Japan by establishing a Tokyo Representative office.

Rob Yeung, Country Head of International & Head of Global Equities and Financing Solutions at BMO Capital Markets, said the firm is “excited” about its growth potential in Japan and the opportunity to serve its growing onshore client base more effectively. Yeung added:

Expanding our business in Japan aligns with BMO Capital Markets’ strategy to build a premier distribution capability both Internationally and in North America. We’re looking forward to being able to tap into a deep pool of Global Markets talent to complement our Asia coverage efforts.

Yuko Kamiya, Representative Director of BMO Japan Securities, said BMO applied for a Securities license after a strategic review showed a high correlation between its Global Markets products and demand in Japan.

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