While the financial industry has survived the majority of the recession that it was partially responsible for, the sector has received mixed messages over the past several months concerning potential hirings and firings.
The Bank of Montreal has announced a southern expansion of its operations, a development that could eventually lead to employment opportunities within the U.S., according to Fins.
Bank officials have noted that they are looking to hire qualified candidates in the areas in which they open offices across the U.S., as the company is looking to take advantage of the large talent pool that exists in America because of the 2008 financial crisis, reported the news source.
"We are pleased to increase our coverage of financial clients across the U.S," Perry Hoffmeister, Head of U.S. Investment and Corporate Banking, said in a statement. "We are hiring experts in insurance and financial services broadly and are adding M&A-focused resources in order to bring all of BMO's products and expertise to this essential sector."
While a Canadian bank is planning to open offices for potential expansion in the U.S., an American company has signaled that several branches may experience closings.
Capital One Bank has announced plans to close offices in several regions of New York in an effort to consolidate operations. This could mean a significant round of firings at the Mattituck site, which is expected to shut down by the summer of 2012, according to Long Island Business News.