BMO Capital Markets and Paloma Securities in securities lending deal

BMO Capital Markets is to hire Paloma Securities’ global securities lending team and purchase the assets used by the firm’s securities lending division.

Paloma Securities has a presence in the USA, UK and Australia and Tom Milroy, CEO of BMO Capital Markets, explained that this would allow BMO to extend its securities lending reach.

"The addition of this lending team from Paloma Securities complements our existing capability in North America and provides us with a platform to build on for future opportunities in the United States and internationally,” he said.

The deal is expected to go through in mid-December, subject to regulatory approval.