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Divestiture • Financial Services

BMO Financial Acquires Bank of the West

On January 17, 2023, BMO Financial acquired financial services company Bank of the West from BNP Paribas

Acquisition Context
  • This is BMO Financial’s 2nd transaction in the Financial Services sector.
  • This is BMO Financial’s 3rd transaction in the United States.
  • This is BMO Financial’s 1st transaction in California.

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M&A Deal Summary
Date January 17, 2023
Target Bank of the West
Sector Financial Services
Buyer(s) BMO Financial
Sellers(s) BNP Paribas
Deal Type Divestiture

Target Company

Bank of the West

San Francisco, California, United States
Bank of the West is a provider of financial services. Bank of the West operates more than 500 branches and offices in 24 states (primarily in the Western and Midwestern parts of the United States), employs more than 9,000 team members, and serves nearly 1.8 million customers.
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Buyer Overview 1

Buyer

BMO Financial

Chicago, Illinois, United States
Category Company
Founded 1984
Sector Financial Services
DESCRIPTION

BMO Financial Corp provides banking, lending, investing, and wealth management solutions to personal, business, and corporate clients.

Deal Context for Buyer #
Overall 3 of 3
Sector: Financial Services 2 of 2
Type: Divestiture 2 of 2
State: California 1 of 1
Country: United States 3 of 3
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-20 BMO Capital Markets GKST

Chicago, Illinois, United States

BMO Capital Markets GKST, Inc. is a a provider of brokerage services.

Sell -

Seller Profile 1

SELLER

BNP Paribas

Paris, France
Category Company
Founded 1848
Sector Financial Services
Employees178,000
Revenue 65.9B EUR (2024)
DESCRIPTION
BNP Paribas branch in central Stockholm, Sweden.
BNP Paribas branch in central Stockholm, Sweden.

BNP Paribas is a financial services company that provides retail banking, asset management, as well as corporate and investment banking. BNP Paribas was founded in 1848 and is based in Paris, France.

Deal Context for Seller #
Overall 6 of 6
Sector: Financial Services 3 of 3
Type: Divestiture 4 of 4
State: California 2 of 2
Country: United States 2 of 2
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Kantox

Barcelona, Spain

Kantox is a fintech company focused on providing automation services for currency risk management. The company's software solution has managed to successfully re-bundle the Corporate FX workflow, offering a one-stop-shop, API driven, plug-and-play solution which has emerged as a unique technology within the B2B cross-border payments sector. Its technology provides an unrivaled level of automation and sophistication to Corporates in setting up hedging strategies. Kantox is based in Barcelona, Spain.

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