Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

BMO AND ICBC COOPERATE TO EXPAND PRODUCT OFFERINGS AND DISTRIBUTION OPPORTUNITIES

BMO Financial Group (BMO) and Industrial and Commercial Bank of China Ltd. (ICBC) have signed a broad ranging memorandum of understanding (MOU), with the goal of leveraging their complementary geographic footprints and capabilities, to the benefit of customers of both institutions.

The agreement covers many areas including Asset Management, Corporate and Project Financing, Trade Finance, Cross-Border RMB cooperation, and best practice sharing of fraud reduction techniques. The signing of the memorandum was witnessed by BMO Vice Chair David Jacobson and ICBC Senior Executive Vice President Dr. Hu Hao.

“This arrangement creates a special opportunity for our two institutions to build on a historic partnership and work together to explore unique synergies, such as combining BMO’s award-winning global suite of investment products with the reach of ICBC – the world’s largest bank – in China, Canada and beyond,” said Gilles Ouellette, Group Head, BMO Asset Management, and Vice-Chair, International, BMO Financial Group. “We look forward to leveraging the MOU to build on a number of opportunities, including our asset management capabilities and other areas.”