Tag Archives: BMO

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BMO Names Miller as President, Western U.S.

BMO Private Bank announced today that Matt Miller has been promoted to President, Western U.S. In this role, he will be responsible for the strategic development and delivery of wealth management services for high-net-worth individuals, family-owned businesses, endowments and foundations throughout the Western U.S.

Miller has nearly 30 years of experience in the financial services industry. He joined the organization in 2009 as Managing Director. During this time, he was responsible for organizing the western regional hub office and recruiting many of its senior managers and advisors.

“Matt is an ideal fit for this position. He is passionate about guiding his clients and helping them achieve their financial goals,” said Terry Jenkins, President and CEO, BMO Private Bank, U.S. “He leads by example, is focused on excellence and motivates his teams to success. We are confident the Western region will achieve even greater success in the years to come.”

Miller is headquartered at BMO Private Bank’s Scottsdale location, which also serves as the hub of Western regional operations. He will oversee a team of 75 financial professionals located in Arizona, Utah and Washington.

A fourth-generation Arizonan, Miller is an active leader in local business and civic communities. He currently serves on the board of directors for Teach for America Arizona, Valley of the Sun United Way Financial Stability Council and volunteers regularly at JAG (Jobs for Arizona Graduates). He previously served on the board of the University Medical Center in Tucson for 12 years. Miller earned a Bachelor of Science in Finance and Accounting from the University of Arizona.

“This is an exciting time to lead an organization that is poised for significant growth,” said Miller. “The caliber of our team is second to none, and our clients benefit from industry-leading planning tools that enable us to provide the best in financial planning and analysis.”

BMO Private Bank has Arizona locations in Scottsdale, Phoenix and Tucson. For more information about services and operations, visit www.bmoprivatebank.com.

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High-Net-Worth Arizonans Upbeat about Economy

A study released today by BMO Private Bank has revealed that affluent Arizonans are optimistic about what the future holds for the U.S. economy.  The study is the second in a series by BMO Private Bank examining trends among high-net worth individuals (those with investible assets of $1 million or more) in Arizona and across the country.

According to the study, 65 percent of Arizona’s affluent expect the U.S. economy to improve over the next year. Additionally, almost half (48 percent) say they are financially better off now than they were before the 2008 recession.

Other key highlights of the study include:

* Affluent Arizonans consider stocks (65 percent) and real estate (58 percent) as the investments most likely to deliver solid returns in the next five years.
* They see the health sector (83 percent) as the most promising in which to invest, followed by the energy and technology sectors (73 percent each). They are least optimistic about the mining (40 percent) and agricultural (28 percent) sectors.
* Arizona’s affluent are spending more or the same since before the recession on entertainment/leisure activities (88 percent) and vacations (85 percent).

“Confidence in the economy has given Arizona’s wealthy greater peace of mind,” said Mike Sullivan, CFA, Regional Director – Investments, Western US, BMO Private Bank. “They are relaxing more, spending more, and making more thoughtful decisions about their investment strategies – all of which will continue to help stimulate economic growth within the state.”

On a national level, the study found:

* Almost two-thirds (61 percent) of high-net worth Americans say they are better off today than they were before the recession.
* Sixty percent of the nation’s affluent are optimistic about what the future holds for the U.S. economy.
* They are most bullish about the technology (80 percent), health (78 percent) and energy (77 percent) sectors and least optimistic about the prospects for the manufacturing (50 percent), agricultural (46 percent) and mining (43 percent) sectors.
* They are spending more money or the same amount as before September 2008 in a number of areas, including:

* Entertainment and leisure activities (86 percent)
* Travel and vacations (83 percent)
* Club memberships (81 percent)
* Collections and hobbies (80 percent)
* Clothing and accessories (77 percent)