BMO Harris Private Banking officially opened a newly expanded office in St. John’s on Monday to meet the increasingly complex financial needs of affluent Newfoundlanders and Labradorians.

“We’re very pleased that we are now able to offer our outstanding personalized service on the ground in St. John’s to high net-worth families across the province,” said Ryan McNally, vp and managing director, BMO Harris Private Banking, Atlantic Canada. “Our clients seek an integrated set of banking, investment management, estate and trust services that can also include financial planning and other specialty services, like philanthropic advisory, and succession planning. With a team of more than 30 experienced professionals, we are now serving the needs of clients throughout Atlantic Canada, with offices in St. John’s, Halifax, and in Moncton.”

Patrick Murphy, a senior private banker, leads a five-person team of skilled and highly trained professionals who serve clients in a welcoming and confidential environment. The BMO Harris Private Banking office is located on the 3rd floor of the BMO Building at 238 Water Street.

McNally emphasized the growing needs for private banking in St. John’s while commenting on the economic health of the province: “Underlying economic trends in Newfoundland and Labrador remain healthy, with expected GDP growth of 1.3% in 2008 and 1% in 2009. As well the local housing market is feverish, with existing home prices in St. John’s up 26 per cent year-to-year in October, the biggest increase in Canada,” said McNally. “We are delighted to now provide our private banking solutions in Newfoundland and Labrador, one of Canada’s brightest economic spots.”

IE