(Toronto) The Bank of Montreal is cutting jobs in its capital markets division.
Posted at 5:41 p.m.
Spokeswoman Kelly Hechler confirmed the layoffs to The Canadian Press on Thursday.
No additional details were provided, either for the number of employees affected or the positions affected.
Bank of Montreal reported lower quarterly financial results a few weeks ago as a pullback in capital markets more than offset gains associated with loan growth and improved yields for investment income. interest.
BMO Capital Markets’ third-quarter net income was $262 million, down from $553 million in the same period a year earlier. Adjusted profit had reached 266 million, compared to 559 million the previous year.
During the conference call with analysts last month, the bank’s chief executive, Darryl White, explained that BMO Capital Markets results were hurt in the quarter “by market conditions and lower customer activity.