BMO - Tara Perkins From Monday's Globe and Mail Published...

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Tara Perkins From Monday's Globe and Mail Published on Sunday, Oct. 25, 2009 7:47PM EDT Last updated on Monday, Oct. 26, 2009 3:22AM EDT Bank of Montreal, ( BMO-T 52.270.240.46%) the country's newest entrant to the exchange-traded fund business, will officially launch nine new ETFs today to stake out its territory in this fast-growing segment. It's the only bank in the business, and hopes to keep it that way – or at least stay three steps ahead of the competition. “It's a product where the margins are quite slim, so I don't think there's room for everybody,” said Gilles Ouellette, the head of BMO's wealth management business. While ETFs might not carry large profit margins for a bank, they can generate trading and advice fees. And BMO is looking to differentiate itself among the banks, which are each dedicating new resources to their wealth management divisions and fighting to grab a bigger share of the baby boomers' retirement savings.
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  • Spring '09
  • Gateman&Neary
  • Exchange-traded fund, BMO, Barclays Global Investors, Toronto-Dominion Bank, Mr. Silgardo, Global Investors Canada

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