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BMO unifies wealth management and i-banking arms under new division

Bank of Montreal is creating a new division called BMO Private Wealth Canada and Asia by uniting its two businesses BMO Private Banking and BMO Nesbitt Burns Inc. under the leadership of Andrew Auerbach.

Auerbach currently heads full-service brokerage BMO Nesbitt Burns. BMO Private Banking is the bank's wealth and investment management arm.

The BMO Private Banking and BMO Nesbitt Burns brands will continue to be used for clients.