Bank of Montreal (BMO.TO) aims to more than quintuple annual earnings from its U.S. operations, following the $4.1 billion acquisition of U.S. lender Marshall & Ilsley (MI.N). Speaking at the BMO's annual shareholder meeting in Vancouver on Tuesday, Chief Executive Bill Downe said the bank earned $184 million from its U.S. retail and wealth management operations last year. He did not specify the currency, but the bank typically reports its U.S. results in U.S. dollars. "In the medium term, our aspiration is that these businesses will generate $1 billion in earnings annually," he said. He did not specify whether he meant Canadian or U.S. dollars.
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