BMO Nesbitt Burns

BMO Nesbitt Burns is an investment management firm based in Toronto, Canada. It operates as a subsidiary of BMO Financial Group, which in turn is part of the Bank of Montreal.

BMO Nesbitt Burns
Subsidiary
IndustryFinancial services, Private wealth management, Investment management
PredecessorNesbitt, Thomson & Co., Burns Fry
Founded1987 (1987) (acquisition of Nesbitt Thomson)
Headquarters
Toronto, Ontario
,
Canada
Number of locations
70 offices
Number of employees
1,300 financial advisors
ParentBank of Montreal
Websitewww.bmonb.com

History

In 1987, BMO Bank of Montreal acquired Nesbitt Thomson, then one of Canada's oldest investment houses. In 1994, BMO Bank of Montreal also acquired Burns Fry, a dealer of Canadian equities and debt securities. Nesbitt Thomson and Burns Fry then merged to become BMO Nesbitt Burns.[1]

After the case was filed in 2013,[2] in 2016, BMO Nesbitt Burns settled for $12.5 million over a class action lawsuit filed against the company for unpaid overtime.[3]

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References
  1. The BMO legacy : two centuries of commitment to customers (PDF) (Report). Bank of Montreal. Retrieved 2020-02-06.
  2. Nelson, Jacqueline (August 21, 2013). "Judge approves BMO advisers' overtime lawsuit". The Globe and Mail. Retrieved January 30, 2020.
  3. Hasselback, Drew (July 25, 2016). "Ontario judge approves $12M settlement in BMO Nesbitt Burns overtime class action". Financial Post. Retrieved January 30, 2020.
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