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Article: U.S. Banks' Pain, Harris' Gain (with Parent's Help).(Wealth Management)(Harris Private Bank of Chicago expanding wealth management operations by buyouts)
- Article from:
- American Banker
- Article date:
- September 23, 2009
- Author:
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Byline: Matt Ackermann
The struggles of U.S. banking companies are providing Harris Private Bank of Chicago with an opportunity to expand its wealth management operations.
The president and chief executive officer of the Bank of Montreal unit, which announced its second acquisition of the year Monday, said more buyouts could follow.
"Over the course of the last 12 to 18 months in rather unstable markets, we have looked to take advantage of the fact that we are owned by a Canadian parent and participate in the strong, stable Canadian banking system," the CEO, Terry Jenkins, said in an interview. "With that and the upset in the industry, we have ...