BMO Capital Markets Cuts About 100 Jobs With Deals Drying Up (2)

Bank of Montreal’s capital markets unit is cutting about 100 positions, or 3.5% of the division’s staff, in response to a weak environment for deals.

About half of the jobs lost at BMO Capital Markets are roles in Canada, according to a person familiar with the matter, speaking on condition they not be identified. Executives were meeting with some staff to outline the details early Wednesday afternoon.

“We are focused on managing expenses dynamically, growing revenue and improving our relative efficiency ratio,” Kelly Hechler, a spokesperson for the bank, said by email. “We are working closely with affected employees ...