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Bank of Montreal expands into UK bond market as new gilt-edged market maker

EditorAhmed Abdulazez Abdulkadir
Published 17/01/2024, 07:29 pm

LONDON - The Bank of Montreal (BMO) has taken a significant step in its European expansion strategy by securing a position as a retail gilt-edged market maker in the United Kingdom. This move represents BMO's first foray as a primary dealer outside of its traditional North American market. The bank's entry into the UK bond market comes at a time when other financial institutions, such as Societe Generale (OTC:SCGLY) SA and Jefferies Financial Group Inc., are stepping back from these roles.

BMO's decision to become a gilt-edged market maker aligns with its broader plans to delve into European debt markets, a vision spearheaded by Summer Hinton.

In addition to its UK market presence, BMO is bolstering its euro swaps business under the leadership of Ralph Sherman. The bank is actively evaluating further opportunities to establish itself as a primary dealer across Europe's intricate financial ecosystem.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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