BMO Harris Private Banking today officially opened its newest Canadian office in Markham, ON at an event attended by local dignitaries, clients and BMO Financial Group partners.

The BMO Harris Private Banking office, located at 3985 Highway 7 on the 3rd floor, offers new and existing clients access to a variety of wealth management services designed specifically to meet the increasingly complex financial needs of the affluent in Markham, including those in the city’s vibrant Asian community.

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The team of eight experienced professionals will be able to provide private banking services in English, Mandarin, Cantonese and Italian. They will offer clients an integrated set of banking, investment management, estate and trust services.

BMO Harris Private Banking’s clients are serviced by a private banker or a portfolio manager who acts as the primary relationship manager. These professionals are supported by a team of in-house experts in financial, tax and estate planning and business transfers. When needed, external experts and consultants are utilized to support client needs.

"Today’s high-net worth clients are a diverse group and we are committed to providing tailored wealth management services that meet their unique needs," said Luciano Blandi, Vice President and Market Manager, GTA North, BMO Harris Private Banking. "Markham in particular has a thriving Asian community and the opening of our office in this location enables us to offer our services to this demographic more effectively. These services include managing cross-border investments in China and elsewhere, and assisting new Canadians in their financial transition to Canada."

Mr. Blandi noted that, according to a recent study by BMO Harris Private Banking, the face of wealth is changing in Ontario with almost half of high-net worth Ontarians (defined as those with investible assets of $1 million or more) either not born in Canada or having at least one parent born outside the country.

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Additionally, according to Robert Kavcic, Senior Economist, BMO Capital Markets: "The GTA represents the heart of the Canadian economy, home to a diverse range of Fortune 500 businesses. Markham is an important and fast-growing part of the Toronto economy and has seen its population more than double since 1990."

"We are excited to be opening our doors to the residents of Markham and are looking forward to working with them on their wealth management needs," concluded Mr. Blandi.