Bank of Montreal Moving to Expand U.S. Operations
Kraus, James R., American Banker
Aiming to substantially increase its base of operations in the United States, Bank of Montreal, has begun expanding its U.S. activities and rationalizing operations with Harris Bankcorp, its main U.S. unit.
As part of the plan, Alan G. McNally, former vice chairman at Bank of Montreal, was recently named chief executive officer at Harris.
"The plan calls for Harris to triple its distribution network and market share and triple its earnings," Mr. McNally said.
The bank also said Harris' services will be expanded in Chicago and throughout Illinois and neighboring states and indicated it plans to invest between $600 million and $700 million to increase the …
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Publication information: Article title: Bank of Montreal Moving to Expand U.S. Operations. Contributors: Kraus, James R. - Author. Magazine title: American Banker. Volume: 158. Issue: 191 Publication date: October 5, 1993. Page number: 9. © 2009 SourceMedia, Inc. COPYRIGHT 1993 Gale Group.
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