Securities Lending
In a typical securities lending transaction, a client lends securities from its portfolio and receives either cash or non-cash collateral from the borrower. BMO, as securities lending agent, will reinvest cash collateral in securities that qualify as acceptable investments or accept non-cash collateral (when applicable), both in accordance with the client’s investment guidelines.
At BMO, we have a range of equity capabilities. Our reach spans geographies, investment styles and market capitalisations (company sizes) and each of our investment teams enjoy the autonomy to develop sound philosophies and robust and repeatable processes.
Experience matters
With an average of more than 20 years of experience, our team understands the market and what it takes to meet the unique needs of our clients.
Flexibility in customization
We provide our clients with the flexibility, customization, risk management and counter-party indemnification backed by the strength of BMO Financial Group to create a program designed to meet each client’s objectives.
Risk management
Securities lending programs are customized for each client to align with their specific risk tolerance and investment objectives.
Mary Ann Goebel
Mary Ann is vice president and senior manager of operations for BMO Securities Lending. She is responsible for overseeing all activity related to operations, technology, compliance and risk for securities lending. Mary Ann also sits on the securities lending management team. She joined the company in 2008 and has more than 30 years of industry experience.
Previously, Mary Ann served as vice president and office manager at Nevada Trust Company and as vice president and manager of custody operations at Bank of America. Mary Ann has participated as a speaker and panelist at various industry conferences and served as a board member on the bank depository user group. She is currently an active member of the Risk Management Association’s securities lending operations and technology group.
L.J. Jhangiani
L.J. is responsible for the development and execution of securities lending trading strategy.
He joined the company in 2013 and has more than 20 years of securities lending experience in his previous roles as portfolio manager, chief operating officer and vice president of global securities lending at industry-leading organizations such as Allstate, State Street, Deutsche Bank, Bankers Trust and Northern Trust.
He holds an M.B.A. from New York University’s Stern School of Business and a B.S. from Northern Illinois University. In addition, he is a member of the Risk Management Association.
John Weasler
John is responsible for securities lending relationship management and new business development. He is also a part of the securities lending management team. He joined the company in 2008.
John began his investment industry career in 2005 and has held client service and relationship management positions at Stark Investments and Wells Capital Management.
He holds an M.B.A. and a B.A. in finance and economics from Marquette University.
Daniel Hoover
Dan is responsible for securities lending sales strategy and is part of the securities lending management team. He joined BMO Global Asset Management in 2014.
Dan entered the securities lending business in 1985 and previously served in related roles at Northern Trust Company, ClearLend Securities, PNC Bank N.A., Deutsche Bank Securities Corporation and BHC Securities, Inc. In addition to securities lending, Dan has experience in custody, securities financing and related businesses in banking and brokerage environments.
He holds a B.A. in international business and French from Ohio Wesleyan University. He is a member of the Risk Management Association and the Securities Industry and Financial Markets Association (SIFMA). In addition, he holds the FINRA Series 7 securities license.
Chris Kunkle
Chris oversees securities lending and is responsible for strategy, management, product development and regulatory guidance. He joined BMO Global Asset Management in 2015.
Previously, Chris served as managing director, securities finance at Wells Fargo’s investment bank. Chris’ prior experience also includes senior securities lending management roles with Wachovia, J.P. Morgan, Mellon, Fleet Securities and Bankers Trust Company.
Chris holds a B.A. in business administration and finance from Wittenberg University and the FINRA Series 7 and 63 securities licenses. He is a member of the Risk Management Association, where he serves as a senior board member on the executive committee on securities lending.
Behind the curtain: Securities lending in mutual funds
Many mutual funds provide investors the potential for added return by loaning the underlying stocks, bonds and other securities in the fund. The added revenue from these activities can make a difference in a fund’s return, but the concept of securities lending is often misunderstood. Chris Kunkle, Head of Securities Lending at BMO Global Asset Management, joins the podcast to explain securities lending, how it benefits investors and what advisors should know.
BMO recognized by Euromoney's Global Investor / ISF Magazine
In the annual International Securities Finance Survey, BMO Global Asset Management ranked #1 in the Americas under Group 2 agent lenders as rated by the largest borrowers in the country. Globally, BMO ranked 5th overall.
For more information about the awards, click here.
The International Securities Finance survey 2019 monitors how the world’s top securities lenders and borrowers rate each other across different asset classes, regions and functions. The main body of the study covers equities lending and borrowing, breaking the constituent companies down into two groups, with G1 comprising the 15 largest players and G2 representing mid-tier financing firms.
Stay connected
To learn more about BMO Global Asset Management’s securities lending services, contact Daniel R. Hoover: