In a move reminiscent of Wall Street shutting down their commodities businesses right as one of the greatest commodity booms on record was getting underway, BMO is winding down its U.S. oil and gas investment banking unit. Bloomberg has more on this potential contrary indicator. Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry. BMO said it has made “the financial decision for an orderly wind-down of our … [Read more...]
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