BMo Shuts Down Tokyo Trading But Keeps Japanese Rep Office

BANKS

Bank of Montreal (BMo) is winding down its Tokyo-based trading operation, but maintaining it as a representative office, confirms Marc Vandal, managing director and regional treasurer for Asia based in Singapore.

Tokyo was primarily a yen-related business for the Canadian bank, a business which is more suited to the product suite of its investment dealer subsidiary Nesbitt Burns, says Vandal.

Money Markets

Trading will be consolidated in Singapore, which will now handle all yen-related pricing