M&I acquisition changes Milwaukee's banking landscape Milwaukee Small Business Times

22.07.11

It will be a while before the words “BMO Harris Bank” ring as familiar to Wisconsin residents as “M&I Bank.”

That will be one of the immediate challenges for BMO Financial Group in the aftermath of its recent acquisition of Milwaukee-based Marshall & Ilsley Corp. After all, the M&I brand had been a force in Wisconsin since its founding in 1847 by Samuel Marshall and Charles Ilsley.

With the acquisition, Wisconsin’s largest bank is suddenly owned and operated by a Canadian company.

The acquisition also changes the banking industry’s landscape in Milwaukee, as competitors are trying to seize market share (see sidebar).

Expect to hear the Toronto-based parent firm of the Bank of Montreal trumpet its “Bee-Mo” brand loudly over the next few years, as it attempts to defend its Wisconsin turf.

Of course, the name is not the only thing changing at the former M&I headquarters in downtown Milwaukee. Although former M&I chief executive officer Mark Furlong keeps his job with BMO Harris Bank, he moves to Chicago.

Source:

debt consolidation chicago - News