The head of Bank of Montreal (BMO.TO), which recently moved to expand its already substantial U.S. presence, says he sees signs of increased acquisition and trade activity among the bank's U.S. clients, suggesting an improving business climate. "I think in the last three or four weeks or so, since the first of the year, you're seeing a broader interest across the board," Bill Downe, BMO's chief executive, told the Morgan Stanley financials conference in New York. Downe said that while many corporate clients have been increasing their borrowing, few have been increasing their use of that credit.
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