No Head Offices In Vancouver – “Bank of Montreal actually had to buy houses for senior management to live in because no one wanted to commit their huge salaries to real estate.Those departments are never coming back to Vancouver.”

Vancouver Old-timer at greaterfool.ca 1:59 pm -

“I worked for what used to be called “The Office of the Senior Vice-President of the Bank of Montreal” in Vancouver when Vancouver actually had a few almost Head Offices. BMO, and all the other banks, shipped the various senior departments back east in the late ’80s, early 90’s. Those departments are never coming back to Vancouver – capital costs of locating here and trying to get staff to come here are just too much. The last 10 years or so that I worked for BMO, the bank actually had to buy houses for senior management to live in because no one wanted to commit their huge salaries to real estate (of course, looking back, it would have been a good move).”

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