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 CHICAGO, Sept. 10 /PRNewswire/ -- Harris Bankcorp and Bank of Montreal today announced a new common management approach to their Treasury operations designed to provide customers with improved service, more products, better pricing and expanded market information.
 "By having both Harris and Bank of Montreal staff report to the same people, we'll be better able to take advantage of the strengths in both groups," said Yvan Bourdeau, treasurer, Bank of Montreal. "At the same time, the two groups will remain completely autonomous, serving their own customers as they always have. It's a way of taking advantage of our relationship to best serve the customers of both organizations."
 As part of the changes in the Foreign Exchange Group, Jamie Thorsen and Bob Goetter, both senior vice presidents with Harris, will take on the added title of managing directors, Bank of Montreal. Ms. Thorsen will be responsible for Harris and Bank of Montreal foreign exchange sales throughout North America. Mr. Goetter will be responsible for foreign exchange trading in the U.S. by both entities.
 Ms. Thorsen joined Harris in 1977. In her most recent position, she was in charge of Harris' foreign currency trading operations and provided foreign exchange counseling services to multinational corporate customers and other companies transacting business overseas. Mr. Goetter joined Harris in 1970 as a money transfer teller and worked his way up to head the bank's foreign exchange and fixed income trading.
 Harris is one of the top 10 providers of foreign exchange services in the United States and was a pioneer in 24-hour foreign exchange trading. As a major player in world currency markets, Bank of Montreal is at the forefront of developments in global foreign exchange. Now, Harris will be able to take advantage of Bank of Montreal's state-of-the-art technology and global trading expertise. At the same time, Bank of Montreal will benefit from Harris' highly respected night trading desk and the customer service expertise of the teams led by Ms. Thorsen and Mr. Goetter.
 Ms. Thorsen's responsibility will be to expand the Treasury presence in both the Canadian and U.S. markets. "In New York and Chicago, both banks provide a unique coverage to variety of market segments," she said. "We intend to build on this expertise to expand our business in both locations. I also look forward to working with the specialized treasury centers located in Toronto, Montreal, Calgary, Vancouver, Winnipeg and Halifax as we continue to build the Canadian and North American franchise."
 "Treasury activities in the U.S. are a long-standing tradition for both banks," said Mr. Goetter. "Harris has been offering treasury services since 1882 and Bank of Montreal since 1818. Our initiatives and expansion plans are an indication of our continued commitment to provide premier service to our customers." One component of these plans will have Harris and Bank of Montreal traders in the U.S. moving to a joint trading floor, one of the newest and largest trading rooms in Chicago.
 "These changes are designed to better serve the customers of both Harris and Bank of Montreal," said Donald Hunt, president and COO of Harris. "These are exciting times for us. While foreign exchange is the focus today, we'll soon be talking about expansion plans for other Treasury operations and for Harris in general."
 Harris and Bank of Montreal recently announced a joint expansion strategy that will create a North American financial services organization with comprehensive capabilities in both Canada and the United States. The strategy will lead to significant expansion in the United States, principally focused in the Harris Bank. Harris' services will be expanded in Chicago and throughout Illinois and neighboring states. Currently Bank of Montreal and Harris, with over 285 combined years of experience, have assets in the U.S. of $34 billion and operate with 6,000 U.S. employees.
 "As we grow, we will be continually looking for centers of competency at both Harris and Bank of Montreal. We want to identify and take advantage of the areas of expertise in both Harris and Bank of Montreal so we can serve customers of both organizations more effectively," Mr. Hunt said. "The team approach we are announcing today for are treasury operations will be used throughout Harris and Bank of Montreal as the North American strategy unfolds."
 -0- 9/10/93
 /CONTACT: Pam Kassner of Harris Bankcorp, 312-461-6625; or Lynne Kilpatrick of Bank of Montreal, 416-867-7014/

CO: Harris Bankcorp; Bank of Montreal ST: Illinois IN: FIN SU:

PS -- NY034 -- 0744 09/10/93 12:26 EDT
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Publication:PR Newswire
Date:Sep 10, 1993

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