Bank trusts are essential players in the wealth management space. Acting as fiduciaries, these institutions support families, individuals, and organizations with estate planning, asset protection, and long-term wealth preservation strategies.
For investment managers, identifying the right bank trust relationships (especially across international markets) can be complex. These firms often operate behind the scenes, with limited public visibility. Dakota Marketplace helps simplify the search by offering verified data, allocator context, and direct contact information, all in one place.
In this article, we are giving you a list of the top 10 bank trusts in Canada. To see the full list, you can view it in Dakota Marketplace.
AUM: $1.29T
Metro: Montreal
BMO Financial Group, operating under the Bank of Montreal, is a significant North American banking organization headquartered in Montreal, Quebec. The bank manages total consolidated assets of approximately CA$1.41 trillion as of October 31, 2024, and has a market capitalization in the range of US$93–95 billion as of early January 2026. BMO operates through several principal subsidiaries, including BMO Bank of Montreal for Canadian personal and commercial banking, BMO Harris Bank N.A. for U.S. banking, BMO Capital Markets for investment banking, and BMO Wealth Management, which encompasses various wealth and asset management services. The organization serves approximately thirteen million customers across Canada, the United States, and select global markets, positioning itself as a leader in wealth management with a focus on high-net-worth and ultra-high-net-worth clients.
AUM: $424B
Metro: Montreal
National Bank of Canada (commonly branded as National Bank or NBC) is a publicly traded Canadian financial institution headquartered in Montreal. The Bank operates through various subsidiaries, including National Bank Financial (NBF) and National Bank Private Banking, delivering a comprehensive range of services such as retail, commercial, wealth management, financial markets, and capital markets. As of October 31, 2024, the Bank reported total assets of CAD 462.2 billion, which grew to CAD 552.6 billion by July 31, 2025, reflecting significant growth driven by acquisitions and business activity. The Bank's wealth management division reported assets under administration (AUA) of CAD 766.1 billion as of October 31, 2024, increasing to CAD 874.4 billion by October 31, 2025, and assets under management (AUM) rose from CAD 155.9 billion to CAD 194.5 billion during the same period. National Bank's market capitalization was approximately CAD 67.4 billion in late 2025, positioning it among Canada's major banks. The Bank's geographic presence is primarily across Canada, with a strong focus in Quebec, and it operates a national network for commercial and retail banking, along with international capabilities through its Financial Markets and Corporate & Investment Banking activities.
AUM: $227B
Metro: Montreal
Mouvement Desjardins, commonly referred to as Desjardins Group, is Canada’s largest cooperative financial group and the largest credit union federation in North America. The organization operates as a cooperative federation comprising thousands of local caisses populaires (credit unions) alongside a network of subsidiaries that provide banking, insurance, investment, and wealth services. As of December 31, 2024, Desjardins reported total assets of approximately C$470.9 billion, with subsequent reports indicating it surpassed the C$500 billion mark in mid-2025. The group employs around 55,000 people and integrates retail banking, commercial banking, insurance, and investment management under one cooperative umbrella. Desjardins is headquartered in Quebec, with a significant presence in Montreal and Lévis, and operates across Canada, including Ontario, Manitoba, and New Brunswick, while also maintaining cross-border activities in the United States and international financing operations. Wealth management services are delivered through various brands and subsidiaries, including Desjardins Investments Inc., Desjardins Securities, and Desjardins Financial Security, positioning Desjardins as a regional leader in Quebec with a growing national footprint.
AUM: $160B
Metro: Toronto
RBC Dominion Securities Inc. is the full-service Canadian brokerage operating as the principal wealth advisory and investment-dealer arm of Royal Bank of Canada’s (RBC) wealth franchise. Legally known as RBC Dominion Securities Inc., it is a member company of RBC Wealth Management and traces its roots to Dominion Securities Corporation, founded in 1901. The firm operates under the Dominion Securities brand for full-service wealth advice, brokerage, and discretionary solutions in Canada, while many investment banking and capital markets activities at RBC are conducted under the RBC Capital Markets name. RBC Dominion Securities is headquartered in Toronto, operating from Royal Bank Plaza, and has a national presence with branches across Canada. The firm serves affluent, high-net-worth, and ultra-high-net-worth clients, emphasizing a comprehensive wealth management approach integrated within RBC's broader wealth platform. RBC, as the parent company, reported average total assets of approximately CAD 1.13 trillion and provides essential support to its wealth businesses, including balance-sheet, deposit, custody, trust, and product distribution services.
AUM: $150B
Metro: Montreal
National Bank Financial (NBF) is the principal wealth and capital-markets operating arm of National Bank of Canada (NBC), functioning as a full-service securities dealer and the Bank’s primary retail and institutional brokerage, investment banking, and wealth management dealer. NBF operates under various brands, including National Bank Direct Brokerage (NBDB) for execution-only services, National Bank Independent Network (NBIN) for custody and clearing services, and Private Banking 1859 for high-net-worth clients. As of January 31, 2025, NBC reported total consolidated assets of C$484 billion and consolidated Assets Under Management (AUM) of approximately C$155.9 billion. The Bank employs around 29,000 to 30,000 people and is headquartered in Montreal, Quebec, with a national presence across Canada, particularly strong in Quebec.
Many of the firms listed here can be explored further in Dakota Marketplace, including key contacts and allocator insights.
AUM: $125B
Metro: Toronto
EQ Bank is the digital retail brand of Equitable Bank, a wholly owned subsidiary of EQB Inc., which is publicly traded on the Toronto Stock Exchange under the ticker EQB. Launched in January 2016, EQ Bank operates as a branchless, cloud-hosted digital bank serving customers across Canada. As of October 31, 2024, EQB reported combined assets under management and administration (AUM/AUA) of CAD 127 billion, with projections to reach CAD 137–138 billion by late 2025. The organizational structure includes a majority interest in ACM Advisors Ltd., an alternative-asset manager, and the acquisition of Concentra Trust in 2022, enhancing its wealth management capabilities. EQB is recognized as one of Canada’s larger banks, often cited as the seventh largest by assets, with Equitable Bank's standalone balance sheet reported in the low-to-mid CAD 50 billion range. The bank's geographic presence spans major Canadian financial centers, including Toronto, Vancouver, Calgary, Montreal, and Halifax, positioning it as a national player in both retail banking and commercial lending.
AUM: $50B
Metro: Edmonton
ATB Financial is the trading name of Alberta Treasury Branches, a provincially owned Crown corporation that serves as Alberta’s provincial financial institution. Established in 1938 and reconstituted as an autonomous Crown corporation in the 1990s, ATB is wholly owned by the Government of Alberta and operates under provincial legislation rather than the federal Bank Act. As a result, ATB's deposits are guaranteed by the Government of Alberta. The organization is led by Curtis Stange, President and CEO, and Joan Hertz, Board Chair. ATB operates as a multi-business financial services enterprise encompassing retail and business banking, capital markets, and wealth management activities under the ATB Financial umbrella. The bank reports total consolidated assets in the mid-$50 billion range, with projections indicating growth into the low-to-mid $60 billion range by 2025. Headquartered in Edmonton, Alberta, ATB serves over 700,000 clients through a network of branches and digital channels, emphasizing its commitment to being Alberta's financial institution.
AUM: $48.1B
Metro: Montreal
Laurentian Bank of Canada, commonly referred to as Laurentian Bank, is a Montreal-based Schedule I bank that operates under the parent company Laurentian Bank of Canada. The bank has a diversified organizational structure that includes Personal and Commercial Banking, Capital Markets, and wealth management activities historically conducted through Laurentian Bank Securities Inc. (LBS). As of its latest public disclosures, Laurentian Bank reports consolidated total assets in the range of approximately C$47–49 billion, with a market capitalization fluctuating between C$1.3–C$1.8 billion as of late 2025. The bank's wealth management division has undergone significant restructuring, including the sale of its retail full-service investment broker division and discount brokerage operations in 2024, which has shifted its focus towards specialized commercial banking and capital markets. Headquartered in Montreal, Quebec, Laurentian Bank maintains a strong regional presence in Quebec while serving clients across Canada and the United States, employing approximately 2,800–3,000 individuals.
AUM: $31B
Metro: Montreal
The Business Development Bank of Canada (BDC) is a federal Crown corporation wholly owned by the Government of Canada, established in 1944 to support the creation, growth, and transition of Canadian small and medium-sized enterprises (SMEs). BDC operates as Canada’s national development bank, focusing on business lending, advisory services, and risk capital through its investment arm, BDC Capital. The bank has no market capitalization or ticker symbol as it is not publicly traded. BDC's headquarters is located in Montreal at 5, Place Ville Marie, and it maintains a national presence with over 100 business centres across Canada. The bank reports over 100,000 clients and approximately 2,900 employees, with a total of $57.2 billion committed to Canadian SMEs. BDC does not operate a retail wealth management division, instead concentrating on financing and investment activities aimed at businesses rather than individual clients.
AUM: $890M
Metro: Regina
First Nations Bank of Canada (FNBC) is a Canadian chartered bank established to serve Indigenous communities, operating under the registered name First Nations Bank of Canada. The bank is predominantly Indigenous-owned, with 83% of its equity held by Indigenous shareholders. FNBC provides a range of services including retail and commercial banking, lending, payment services, and trust and wealth management through its subsidiary, FNB Trust. The bank has historically reported total assets in the low billion-dollar range, with figures cited around $1.0 to $1.2 billion. FNBC does not have a publicly listed parent company or market capitalization, as it operates independently without a public ticker. Its headquarters is located in Regina, Saskatchewan, and it has a significant presence across multiple provinces and territories, including branches in Saskatoon, Winnipeg, Iqaluit, and Yellowknife. FNBC positions itself as a regional bank focused on Indigenous clients, with a mission-driven approach to wealth management and community support.
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