December 27, 2014 2:46 PM ET

Capital Markets

Company Overview of BMO Nesbitt Burns, Inc.

Company Overview

BMO Nesbitt Burns Inc. is a boutique investment bank that provides financial advisory services. The firm offers financial planning; estate planning and preservation; retirement, insurance, and education planning; income replacement; tax minimization; and business succession planning advisory services. The company provides equity research, risk management, private debt and equity underwriting, and trade financing services. Additionally, it offers mergers and acquisitions advisory, restructurings, and valuations consulting services. BMO Nesbitt Burns, formerly known as Nesbitt Burns, was founded in 1994 and is based in Toronto, Canada with additional offices in Calgary; Canmore; Drumheller; Ed...

1 First Canadian Place

54th Floor

Toronto, ON M5X 1H3

Canada

Founded in 1994

Phone:

416-359-4000

Fax:

416-359-4311

Key Executives for BMO Nesbitt Burns, Inc.

Chief Executive Officer
Age: 58
Co-Head of Private Client Division
Executive Vice President of Client Relations
Vice Chairman of Investment and Corporate Banking
Age: 71
Managing Director of Mergers & Acquisitions Group
Compensation as of Fiscal Year 2014.

BMO Nesbitt Burns, Inc. Key Developments

BMO Financial Group Appoints Charyl Galpin as Head of BMO Nesbitt Burns

BMO Financial Group has announced that Charyl Galpin has been appointed Head of BMO Nesbitt Burns, the full-service investment firm of the bank. In this role, Ms. Galpin will be responsible for overseeing the full-service investing and wealth advisory business in Canada. The firm consists of an extensive network of more than 1,300 investment advisors at 60 branches across the country. Ms. Galpin has been Co-Head of BMO Nesbitt Burns since 2011. During this time, she consistently delivered strong financial results, while strengthening client relationships. Ms. Galpin joined BMO in 1979, moving in 1986 to Burns Fry where she held a series of leadership roles including Manager, Client Services and Vice-President, Investor Services Operations.

Overtime Class Action against BMO Nesbitt Burns Inc. to Proceed

In Reasons released December 17, 2013, Madam Justice Sachs of The Divisional Court denied BMO Nesbitt Burns Inc. leave to appeal from an earlier decision certifying a class action against Nesbitt Burns for overtime compensation. The denial of leave to appeal means that the earlier order of Justice Belobaba certifying the class action against BMO Nesbitt Burns Inc. stands. Class Counsel believe that up to 1,500 current and former Investment Advisors, Associate Investment Advisors and Investment Advisor Trainees, employed by Nesbitt Burns since 2002, may potentially be class members. The class action claim alleges that Nesbitt Burns breached its duties to the class members by systematically and improperly denying overtime to the class. The allegations have not yet been proven in court. The decision denying leave to appeal will allow this case to proceed as a class action. Yegal Rosen, a former Investment Advisor with Nesbitt Burns, has been appointed as the lead representative plaintiff in the action. Mr. Rosen worked as an Investment Advisor for Nesbitt Burns Inc. from 2002-2006. Mr. Rosen alleges that during this period he never received overtime compensation, while working between 60-80 hours per week. This class action follows several other off the clock overtime class actions by employees in the banking sector. This is the first misclassification case in this area to be certified as a class action, and with leave to appeal denied, this case will now continue.

BMO Nesbitt Burns Inc. Announces Target Distribution Month and Twelve Months Ending December 31, 2014

BMO Nesbitt Burns Inc. announced a target distribution of $0.05 per unit per month ($0.60 per Unit per annum) for the 12 months ending December 31, 2014, representing a yield of 6.11% based on the closing price of the class A units on the Toronto Stock Exchange on December 3, 2013.

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