Bank of Montreal cuts about 100 jobs across its capital markets division [Toronto Globe and Mail (Ontario, Canada)]
Bank Of Montreal (BMO)
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Source: Toronto Globe and Mail
Bank of Montreal cuts about 100 jobs across its capital markets division Bank of Montreal is trimming the ranks of its capital markets arm, eliminating approximately 1 jobs as the bank continues to hunt for ways to control its costs. The job cuts were announced internally over the course of a few days this week, according to sources familiar with the matter who were not authorized to discuss the changes. They span a range of divisions and seniority levels in Canada and the U.S., as well as other countries where BMO does business. In April, BMO revamped the leadership of its capital markets team Story continues below advertisement Like many of its peers, BMO had to weather volatile conditions for capital markets at the tail end of 218 and while markets have calmed since then, the division continues to face a challenging climate. In its first fiscal quarter, which ended Jan. 31, BMO reported a 6-per-cent drop in profit from capital markets, compared with a year earlier – and that stood
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