Inside these posts: Commercial Banking

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Bank of Montreal says it cut 491 jobs since last fall

Employment in BMO Financial’s U.S. personal and commercial banking operations, which consists mainly of Harris Bank, fell to 3,965 in the first quarter, down from 4,456 jobs in the fourth quarter.

The Canadian bank released its first-quarter financial results on Tuesday. In an afternoon conference call with Wall Street, an analyst asked BMO about the cutting of 491 jobs, or 11 percent of its personal and commercial banking operations in the United States. Get the full story »

Head of local Fifth Third Bank is leaving

Chip Reeves, president of Fifth Third Bank’s operations in Chicago since 2008, is heading back to Ohio.

The 20-year Fifth Third veteran has accepted a new position within the Bancorp Special Assets Group effective Oct. 1.   SAG is a high-end securities division of the bank.

A search is underway for a new Illinois-area president Get the full story »

Wells Fargo thinking big commercially

Wells Fargo & Co. has only eight retail branches in the Chicago area, but the San Francisco-based megabank has big growth plans for its local commercial and private banking arms.

It’s also looking for more space in the Loop area.

It has about 50 commercial bankers in the Chicago area, but plans to beef up that staffing by about 50 percent in the next year. Its local business customers include Freedman Seating, which serves the public transit industry and employs about 500, and Stoller Wholesale, a family-run wine and spirits distributor. Get the full story »