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BMO Bank of Montreal (TSX/NYSE: BMO) has launched Technology & Innovation Banking Group modeling after a competitor bank.

The new group will provide advice and funding to companies at every stage of their lifecycle – from start-up to post exit or IPO. BMO said the group is uniquely positioned to help technology and innovation companies, by tapping into BMO’s strong North American presence and by helping them build seamless cross-border operations.

The group will work closely with the BMO Capital Markets and Wealth Management teams, as they continue to support clients by delivering a full range of investment and corporate banking products and services.

The Technology & Innovation Banking Group will be led by Andre Salvi, currently Managing Director and Head of BMO Partners. Salvi will be joined by Devon Dayton, Managing Director, and Deirdre Bergin, Managing Director.

photo credit: BMO

News Release

BMO Announces New Technology & Innovation Banking Group to Accelerate Technology Practice Français

TORONTO, April 30, 2019 /CNW/ – Canada’s technology sector is growing quickly. To help companies compete and grow in this burgeoning sector, BMO has introduced its Technology & Innovation Banking Group.

This specialized group provides advice and funding to companies at every stage of their lifecycle – from start-up to post exit or IPO – and is uniquely positioned to help technology and innovation companies, by tapping into BMO’s strong North American presence and by helping them build seamless cross-border operations.

“The technology sector is transforming our country and ensuring the continued success of these companies will be important to helping Canada reach its full economic potential,” said Cameron Fowler, President, North American Personal & Business Banking, BMO Financial Group. “BMO has a strong North American banking business, and customer relationships are at the heart of this strength. We’re here to help entrepreneurs bring new ideas to market, drive innovation and enable established enterprises to reach their full potential and scale.”

Andre Salvi leads the Technology & Innovation Banking Group. Mr. Salvi has over 20 years of experience in investment banking, private equity and mezzanine financing, emerging payments, partnerships, and strategic investments. He has deep expertise in the sector – having recently led strategic partnerships with FinTech companies for the bank – and his experience includes initial public and secondary offerings, as well as public and private merger and acquisition mandates.

“There is an opportunity to better support the companies, and founders, which are operating in the sector and driving the innovation economy,” said Mr. Salvi. “These companies have diverse needs – including investing, business planning, and wealth management requirements. We bring a bank-wide approach and are excited to make an impact and help the companies in this fast-evolving sector.”

The group, which includes Devon Dayton, Managing Director, and Deirdre Bergin, Managing Director, will provide tailored financing solutions and advice that caters to the unique needs of the companies in this sector.

“Great Canadian technology companies need partners like BMO who can help them scale-up and compete globally,” said Jason Smith, President and CEO of Real Matters. “BMO has been there for us every step of the way as a true partner in providing both advice and access to capital. BMO’s commitment to the sector will help drive growth and bolster Canada’s position as a technology leader on the world stage.”

The group will work closely with the BMO Capital Markets and Wealth Management teams, as they continue to support clients by delivering a full range of investment and corporate banking products and services.

“We continue to be bullish on the technology sector in Canada,” said David Wismer, Managing Director, BMO Capital Markets. “It is a vital sector to Canada, and we are seeing a growing appetite to lend to the companies within it. This new group will help these high growth companies compete both here at home and on a global scale.”

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $807 billion as of January 31, 2019, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.