M&I name to be replaced by BMO Harris Bank
After more than 160 years as a prominent part of Milwaukee’s business community, the M&I Bank name will be eliminated.
According to a regulatory filing with the U.S. Securities and Exchange Commission, Toronto-based BMO Financial Group, the corporate parent of Chicago’s Harris Bank which is in the process of acquiring Milwaukee’s Marshall & Ilsley Corp. for $4.1 billion, will re-name the combined bank BMO Harris Bank.
The combination of Harris Bank and M&I Bank, the largest bank in Wisconsin, into BMO Harris will create the 15th largest commercial bank by assets in the U.S.
“Let me acknowledge that a name change for both M&I and Harris is an important change — names and logos are representations of brand, and symbolic reminders of the things for which we stand,” said Bill Downe, BMO chief executive officer. “The M&I and Harris logos have long histories and great value.”
Paul Deegan, a BMO spokesperson, said the name change was given careful consideration.
“We are combining the strengths of these two U.S. banking franchises that have built solid reputations in putting customers first,” Deegan said in a statement. “Name variations were tested with personal, commercial and wealth customers and prospects in a number of markets including Milwaukee and Chicago, in both suburban locations and cities. In all areas and with all groups, BMO Harris Bank tested well.”
