BMO Financial Group celebrated the grand opening of its Shanghai Branch on June 19.

The branch, which commenced operations on May 13, will provide North American and Chinese clients with a wide range of products, including trade finance, corporate financing, treasury products, term deposits, foreign exchange and US$ accounts.

In addition, the branch will assist Chinese nationals seeking to immigrate to Canada with advice and immigration banking services. The branch combines the expertise of on-the-ground advisers, who have a deep understanding of local legal and regulatory structures, and the strength of BMO’s professional teams in North America.

“With branches in Beijing, Guangzhou, Hong Kong and now Shanghai, BMO is exceptionally well-positioned to help Chinese corporate and institutional clients and North American businesses do business in China,” said Bill Downe, CEO of BMO Financial Group. “Upgrading from a representative office to full branch status gives BMO broader geographic coverage in China and will allow us to better serve clients investing in the bustling Yangtze River Delta region, which is home to over 90 million people and is the largest recipient of North American direct investment in China.”

Commenting on BMO’s 28% equity interest in Shanghai-based Fullgoal Fund Management Co., Downe said, “Wealth management is an important plank in BMO’s China strategy and, as per capita income grows, Fullgoal will grow too and will be there to help Chinese investors save and plan for the future.”