BMO Financial Group Announces Executive Appointments Français
Nadim Hirji appointed Vice-Chair, BMO Commercial Banking
Ernie (Erminia) Johannson to retire in 2026, appointed Senior Advisor
Sharon Haward-Laird appointed Group Head, Canadian Commercial Banking and North American Shared Services; Co-Head, Canadian Personal & Commercial Banking
Mat Mehrotra appointed Group Head, Canadian Personal & Business Banking; Co-Head, Canadian Personal & Commercial Banking
Deland Kamanga, as Group Head, Wealth Management, designated Executive Committee Sponsor for One Client Leadership Initiatives
Mona Malone appointed Chief Administrative Officer and Chief Human Resources Officer
Paul Noble appointed General Counsel and Group Head, Legal & Regulatory Compliance
TORONTO, June 5, 2025 /CNW/ - BMO Financial Group today announced several executive appointments to further strengthen client service excellence through execution focus and innovation, and support its growth ambition throughout Canada and in key markets across the United States.
These appointments streamline and accelerate decision-making and enable improvement in profitability, loyalty and efficiency by placing high-performing leaders in high-impact mandates.
"Today's announcement reflects BMO's deep strength in talent development and planning, and our ability to attract exceptional leaders to serve our clients," said Darryl White, CEO of BMO Financial Group.
"This next step supports the rebuilding of our ROE, including optimizing our U.S. structure by combining our U.S. Personal & Business Banking, Commercial Banking, and Wealth Management businesses to deliver for our clients," continued Mr. White.
"These experienced leaders bring the capabilities that will help us accelerate our performance through greater collaboration, integration of AI, data and cloud computing for faster, more innovative work, and personalized client advice and service. Their work will be underpinned by our culture of ethical performance, strong governance, and robust risk management."
Aron Levine will be appointed Group Head and President, BMO U.S. and join the Executive Committee of BMO Financial Group, and U.S. Management Committee. Based at BMO's U.S. Headquarters in Chicago, Mr. Levine will lead BMO's U.S. Personal & Business Banking, U.S. Commercial Banking and U.S. Wealth Management businesses. He will report to Darryl White, CEO, BMO Financial Group and Darrel Hackett, CEO, BMO U.S.
As U.S. CEO, Mr. Hackett has overall accountability for BMO's U.S. segment and serves as Chair of the bank's U.S. Management Committee.
Mr. Levine has three decades of U.S. banking experience, with leadership roles in Consumer Banking, Wealth Management, Corporate Strategy, and Commercial Real Estate Finance. Mr. Levine has created and launched industry-leading loyalty programs, grown an electronic trading platform and an investment advisory service from $60 billion to over $500 billion in total assets, and has led a Preferred Banking business with over 38,000 employees and a nationwide network of 3,700 financial centres.
Nadim Hirji will be appointed Vice-Chair, BMO Commercial Banking. Mr. Hirji has led BMO's North American Commercial Banking business since March 2023.
Mr. Hirji has served clients in roles across BMO Commercial Banking and as a leader in BMO's Enterprise Risk and Portfolio Management group. Under Mr. Hirji's leadership, BMO's commercial bank elevated its use of data, digital and its focus on optimizing risk and return. Mr. Hirji's new role will support the growth mandates of BMO commercial banking leaders in Canada and the U.S.
Ernie (Erminia) Johannson has shared her intention to retire from BMO in early 2026, after leading BMO's North American Personal & Business Banking group since 2020. Ms. Johannson will be appointed Senior Advisor.
Under Ms. Johannson's leadership, BMO's Canadian Personal & Business Banking business has consistently delivered top-tier revenue growth and increased market share through industry-leading customer acquisition, digital and branch performance; while BMO's U.S. Personal & Business Banking business has consistently delivered top-tier deposit generation. Ms. Johannson serves on the U.S. Consumer Bankers Association Board of Directors and is Chair of the Board of the Canadian Bankers Association – a role she will continue to hold through her term in 2026.
Sharon Haward-Laird will be appointed Group Head, Canadian Commercial Banking & North American Shared Services and Co-Head of Canadian Personal & Commercial Banking, and continue to serve on the bank's Executive Committee, reporting to Mr. White. Ms. Haward-Laird will continue as BMO's Executive Committee Sponsor for Digital Currency and Sustainability.
Ms. Haward-Laird joined BMO in 2000 and has served in business and corporate roles, including General Counsel, Head of North American Treasury & Payment Solutions, Head of Corporate Communications & Investor Relations, and Deputy General Counsel, BMO Capital Markets. Ms. Haward-Laird served on the leadership team of BMO Commercial Banking from 2016-2020 as Head of North American Treasury & Payment Solutions (TPS), with a leading role in advancing deposit strategies and TPS capabilities.
Mat Mehrotra will be appointed Group Head, Canadian Personal & Business Banking and Co-Head of Canadian Personal & Commercial Banking, and join the bank's Executive Committee. He will report to Mr. White. Mr. Mehrotra joined BMO in 2010 and currently serves as Chief Digital Officer and Head of Canadian Products.
Mr. Mehrotra is an innovative technology and business leader with a track record of delivering for clients and elevating BMO's digital competitiveness. He has transformed BMO's retail banking digital sales and service experience into an industry leader, delivering award-winning client loyalty and client experience.
Deland Kamanga will continue to serve as Group Head, Wealth Management and member of the bank's Executive Committee, reporting to Mr. White, leading BMO's Global Asset Management, Canadian Private Wealth, BMO InvestorLine and BMO Insurance businesses.
Mr. Kamanga will be designated as BMO's Executive Committee Sponsor for One Client Leadership initiatives, BMO's program to ensure clients benefit from access to the full spectrum and capabilities of BMO's products and services across its business groups.
Mona Malone will be appointed Chief Administrative Officer, and continue to serve as Chief Human Resources Officer and member of the bank's Executive Committee. Ms. Malone will lead BMO's groups overseeing Marketing, Communications, Human Resources, Corporate Real Estate and Procurement, reporting to Mr. White. Ms. Malone is also a member of the bank's U.S. Management Committee.
Ms. Malone joined BMO in 1996 and has led in transformational roles throughout BMO with a track record of results and focus on talent and culture.
Paul Noble will be appointed General Counsel and Group Head, Legal & Regulatory Compliance, and will join the bank's Executive Committee. Mr. Noble will report to Mr. White.
Mr. Noble joined BMO in 2003 and has led legal and compliance groups across the bank, including roles in U.S. P&C, Wealth Management, BMO Capital Markets, and Enterprise Legal where he currently serves as Corporate Secretary.
All appointments are effective July 7, 2025.
About BMO Financial Group
BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
SOURCE BMO Financial Group
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Sun
2 days ago
- Toronto Sun
LILLEY: Back in the office for a five-day workweek the new normal
Get the latest from Brian Lilley straight to your inbox A woman works in an office (Getty Images) More than five years after the pandemic forced many people into working from home, employers are finally making a push to return to office. Rogers will require employees to be in the office four days a week by October and five days in February. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account BMO, RBC, TD and Scotiabank are all requiring a least four days a week come the fall. Now, the Ontario government has said all employees will be required to be in-person at the office four days by October and five days starting early January. 'Well, it's time,' Treasury Board President Caroline Mulroney said. 'Remote work developed during the pandemic in response to a public health emergency where people could not come to work. But it's time to bring people back,' she added. Mulroney said that more than half of the public services is already in their place of work five days a week. She noted that Service Ontario employees, correctional workers and inspectors are some of the staff that never had the ability to work remotely. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Ontario Treasury Board President Caroline Mulroney is pictured at Arcadian Court in Toronto on April 2, 2025. (Jack Boland, Toronto Sun) Now office workers will need to face the reality that much of the province has been dealing with for years. 'It's the reality for so many Ontarians already. And we believe that the public service should reflect the realities of the Ontario people and businesses that we serve,' Mulroney said. One executive who is in the process of moving his private sector workforce back to the office said that collaboration is key. That, he added, is more difficult when workers aren't in the office. Mulroney agrees with that sentiment — part of the government's reason for bringing workers back full-time. Recommended video 'It provides for a better outcome, people get to work together in their teams, collaborate, share ideas,' she said. This advertisement has not loaded yet, but your article continues below. One argument that some employees make is that they are more productive working at home with fewer distractions. There can be some merit to that, but it doesn't help the company culture, according to some executives. 'The company is less productive when you are at home,' said one executive who asked not to be named. A 20-year veteran of the recruitment and staffing industry, Jessica Culo — co-owner and President of Specialized Recruiting Group in Edmonton — said in a recent interview that most employers want people in-person five days a week, but that's not what employees want. 'That would probably be less than 10% who want to be in the office every day. And I'd say there's probably 25% that demand only fully remote and the balance feel hybrid is appropriate,' Culo said. This advertisement has not loaded yet, but your article continues below. She noted that making personal connections are a reason workers want to be in-person at the office, but added they also want the freedom to not be there five days a week. She said moving to five days in-office may make it more difficult for some firms to recruit staff, but as more companies and employers adopt this practice, recruitment will be less of an issue. Culo said the hardest firms to recruit for are those that have turned exclusively to remote work. Mulroney, meanwhile, noted another reason for bringing people back to the office: Mentoring the next generation of workers. 'You can't mentor people over the phone,' she said. 'There are a lot of people who are new or newly entered the workforce who haven't had the benefit of that.' This advertisement has not loaded yet, but your article continues below. In addition to the Ontario government, Rogers and the big banks, several other multi-national companies have adopted a five-day-a-week strategy, including Amazon, Boeing, Dell and UPS. The City of Brampton and Mayor Patrick Brown announced last week that their workers would be required to return to office by January, as well. Right now, federal workers are only required to be in office three days a week and several unions representing those workers continue to fight the mandate. According to the City of Toronto, 70% of their 43,000 workers are in-person five days a week and there are roughly 12,000 that have opted into the city's hybrid work program. Read More Toronto & GTA Toronto & GTA Columnists Money News Ontario
Cision Canada
7 days ago
- Cision Canada
BMO Survey: Gen Z and Millennials Face Challenges Raising a Family Amid Rising Financial Pressures Français
Top factors influencing decisions on whether to have children include financial stability and finding the right partner. Nearly nine-in-ten find balancing the emotional and financial demands of parenthood challenging. TORONTO, Aug. 13, 2025 /CNW/ - The latest BMO Real Financial Progress Index reveals seven-in-ten Gen Z (70%) and Millennials (69%) want to have children but worry doing so would negatively affect their financial security. While 81% of Canadians say being a parent brings joy and fulfillment to their lives, over half (53%) of parents admit having children compromised their financial security. The BMO survey examines how the financial and emotional challenges related to raising children in the current economic environment are shaping parenting decisions and found: Family Defining Decisions: Financial stability (44%) is the top consideration influencing Canadians' decision on whether to have children, followed by finding the right partner (34%), the ability to be fully present for their child(ren) (27%), mental and physical health (24%) and career goals and/or prospects (17%). Over a third (35%) would reconsider their decision not to have children if there was less of a negative effect on their finances. Family Size Aspirations: On average, aspiring parents want two children, but that number rises to three if financial constraints are removed. Emotional Toll of Parenthood: 89% say balancing the emotional and financial demands of parenthood is challenging and over half (55%) regularly feel overwhelmed by their family's financial responsibilities – a sentiment felt most profoundly among Gen Z (72%) and Millennials (72%). Keeping Up with the Jones: Over three quarters (76%) admit there is pressure for parents to keep up with other families by spending more than they should. Long-Term Implications: 86% report that everyday childcare costs including daycare, after-school programs, and school supplies, negatively affect their ability to save for long-term goals such as higher education or homeownership. "For many Canadians, starting and raising a family is one of life's most meaningful journeys, but it can also bring significant financial and emotional pressures," said Gayle Ramsay, Head, Everyday Banking, Segment & Customer Growth, BMO. "To help ease that burden, we encourage families to have open, ongoing conversations about money and to create a financial plan that reflects their values and long-term goals – whether it is buying a home, saving for their child's education and more. Working with an advisor can provide guidance through life's changes, and help families stay on track and focus on what matters most – spending more time together and making real financial progress." According to BMO Economics, the current economic environment is testing the resilience of households in Canada. The Bank of Canada's Survey of Consumer Expectations suggests most respondents have a negative opinion of their financial health, likely given concerns about tariffs and trade, a rising unemployment rate and sagging home prices in parts of Ontario and British Columbia. However, financial conditions are improving with lower interest rates, falling borrowing costs and steady income gains in the past year, meaning the overall debt service burden has fallen from earlier record highs. Household financial stress should improve further if the Canadian government can negotiate a trade deal with the U.S. and if the Bank of Canada resumes policy easing, as anticipated, in the fall. The latter would further reduce the mortgage reset burden on many homeowners in the next two years. The Price of Parenthood The BMO Real Financial Progress Index found 84% of Canadians feel the costs associated with raising children have become unmanageable, with parents saying the most surprising costs include groceries (39%); toys and activities such as sports and recreational clubs (37%); daycare, private schools and afterschool care (31%); housing costs to accommodate a child (30%); baby supplies such diapers, formula, etc. (28%); new clothing for the child(ren) (27%); strollers, car seats and other similar items (25%); and extra childcare help such as a nanny, babysitting, etc. (21%). While concerns about the financial demands of parenting remain high, many Canadians plan to support their children well into adulthood, with 22% saying support should continue until their child secures a full-time job, 18% planning to provide support until the child moves out, and 22% believing parents should offer support regardless of life stage. On average, Canadians feel parents should financially support their children in some capacity for 19 years; notably, 29% believe this support should last for as long as the parents are alive. BMO Helps Families Make Real Financial Progress BMO offers some tips to help Canadians and their families stay on track towards their financial goals and make real financial progress: Build a Family-Centered Financial Plan: Creating a financial plan as a family can help foster unity and accountability. Families should regularly set aside time to discuss finances and include children in age-appropriate ways including creating a budget, providing a weekly allowance, and/or collaborating on goals such as saving for a family vacation, education for the child(ren) or an emergency fund. BMO My Financial Progress: Available through BMO's Mobile Banking app and Online Banking, this innovative, digital goal planning platform helps clients create personalized and adaptive long-term plans, gain comprehensive insights into their finances and access personalized strategies to help them reach their goals. Maximize Government Benefits: Canada Child Benefit (CCB): This tax-free monthly payment from the Canada Revenue Agency (CRA) is designed to help families with the cost of raising children under 18. The amount received depends on adjusted family net income (AFNI), the number and age of children in the household, and marital status. For families with an AFNI below $37,487, they are eligible to receive up to $7,997 a year for children under 6 and $6,748 a year for children aged 6–17. Child Disability Benefit (CDB): The tax-free monthly payment supports families raising children under 18 with severe and prolonged physical or mental impairments. For example, for the period of July 2025 to June 2026, eligible families can receive up to $3,411 annually per child, with amounts reduced based on income. No separate application is required if the child qualifies for the Disability Tax Credit and the family receives the Canada Child Benefit. GST/HST Credit: The tax-free quarterly payment issued by CRA helps low- and modest-income Canadians offset the cost of sales taxes on everyday purchases. It may also include payments from provincial and territorial programs. For the benefit period of July 2025 to June 2026, eligible individuals may receive up to $533 if single, $698 if married or common-law, plus $184 per child under 19. Most Canadians are automatically considered when they file their annual tax return. Leverage Tax Strategies: Efficient tax planning can lower the household's tax burden and maximize potential returns. CRA offers a range of family benefits to help alleviate some of the financial burden for families including: Registered Education Savings Plans (RESP): A RESP is a long-term, tax-sheltered savings plan that helps families save for their child's education. The earlier families start investing in a RESP, the more time the investment has time to grow. Families can contribute up to $2,500 per year to receive the full $500 Canada Education Savings Grant. Child Care Expenses Deduction: Fees for daycare, summer camp or boarding school for children under 16 can be deducted if parents are either working or attending school full time. Medical Expenses: Families can claim either all or part of a medical expense including prenatal care with a nurse, fertility treatments and/or hospital upgrades. Foster Family Financial Literacy: Teaching kids how to spend, save, and share (the 3S-Strategy) early helps build lifelong money habits. Young Children (Ages 8 and Under): To instill early habits of earnings and savings, use tangible tools like coins and bills to introduce basic concepts through allowances or chore-based rewards. Tweens (Ages 9-12): Reinforce the 3S-Strategy with prepaid or debit cards and involve them in budgeting and saving for goals. A prepaid or debit card can help them manage money across categories, earn interest and save toward goals. Parents should maintain control over bank accounts and regularly review balances to their child's track progress and spending habits. Teens (Ages 13 and Older): As teens begin earning money through part-time jobs, allowances, or gifts, introduce budgeting across categories, and set up automatic transfers for larger goals. Explore into Employer Benefits and Wellness Programs to Help Ease Parenting Costs and Reduce Stress: Through its employee benefits, BMO offers short-term care services to help with back-up care for childcare and adult/elder care (via Telus Health). BMO also recognizes there are different paths to becoming a parent and provides financial support to help employees who choose to grow their families through fertility treatments, surrogacy or adoption. Additionally, BMO Parents Employee Resource Group supports parents and caregivers through community, honest conversations and networking. To learn more about how BMO can help clients make financial progress, visit Launched in February 2021, the BMO Real Financial Progress Index is an indicator of how consumers feel about their personal finances and whether they are making financial progress. The index aims to spark dialogue that will help consumers reach their financial goals and to humanize a topic that causes anxiety for many – money. The research detailed in this document was conducted by Ipsos in Canada from June 10 to July 17, 2025. A sample of n=2,501 adults ages 18+ in Canada were collected. Quotas and weighting were used to ensure the composition of the samples reflects that of the Canadian population according to census parameters. The surveys have a credibility interval of +/- 2.4 per cent 19 times out of 20, of what the results would have been had all Canadian adults 18+ been surveyed. About BMO Financial Group BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. SOURCE BMO Financial Group
Cision Canada
11-08-2025
- Cision Canada
BMO Launches 2025 BMO Celebrating Women Grant Program to Advance Real Financial Progress for Women-Led Businesses Français
Total of $100,000 in grants will be awarded to ten Canadian women-owned businesses that address the United Nations Sustainable Development Goals (UN SDG). Applications open until August 19, 2025. TORONTO, Aug. 11, 2025 /CNW/ -BMO, in collaboration with Deloitte Canada, today announced the launch of its fifth annual BMO Celebrating Women Grant Program, an initiative dedicated to supporting real financial progress for women-owned businesses. BMO is pledging a total of $100,000 for ten Canadian women-owned businesses that can demonstrate how they are addressing at least two of the United Nations Sustainable Development Goals (UN SDG). Each grant recipient will be awarded $10,000, receive support from a BMO business advisor, and have access to additional resources to support their business' financial progress. This includes BMO for Women workshops, seminars and events, potential membership in select organizations and/or advisory boards, a profile on and a BMO Celebrating Women Grant Program recipient social badge. Applications are open until August 19, 2025. Grant recipients will be announced in the fall of 2025. "Women-owned businesses have tremendous potential to drive innovation, create jobs, and build a more resilient and thriving economy – but too often, they face barriers to accessing the investment and resources they need to grow," said Sharon Haward-Laird, Group Head, Canadian Commercial Banking and North American Shared Services, Executive Sponsor of BMO for Women. "The BMO Celebrating Women Grant Program helps bridge those gaps by providing targeted financial support and expert guidance, enabling women entrepreneurs to achieve real financial progress and build lasting impact." "Women entrepreneurs are critical drivers of innovation and economic growth, yet they continue to face unique barriers accessing capital, networks, and mentorship" said Emmy Babalola, Partner, Deloitte Canada "Deloitte is thrilled to continue our support of The BMO Celebrating Women Grant Program, which gives women entrepreneurs the foundation they need to develop their ideas into sustainable, impactful businesses that drive economic growth and community empowerment." Inspired by BMO's Purpose, to Boldly Grow the Good in business and life, and the bank's commitment to double support for women-owned businesses, the BMO Celebrating Women Grant Program was created in 2020. Within five years, the program has expanded to reach a diverse range of sectors and industries. It has supported women-owned businesses across North America, providing over $750,000 to the program's grant recipients and connecting them to business advisors and a vibrant professional network. BMO has a longstanding commitment to breaking down barriers to advance women's empowerment, advocate for their growth, and foster inclusivity within the market by meeting their unique needs. Notable initiatives include: A commitment to increase the number of women-owned businesses supported across the bank's Canadian footprint. As of 2023, BMO supported more than 146,000 women-owned businesses in Canada, with more than $10 billion in loans. Established customer programs including BMO for Women, which focuses on supporting the growth of women-owned businesses, and empowering women to feel confident about their finances and financial futures. Collaborated with 1871 to develop the WMNfintech program. Since 2020, WMNfintech has been building the most powerful ecosystem in fintech with tailored sponsorship, resources and market insights that have helped raise $50 million in capital and create over 200 jobs, contributing to economic growth and inclusive innovation across North America. To learn more about the BMO Celebrating Women Grant Program, visit About BMO for Women Officially launched in 2016, the BMO for Women program is dedicated to empowering women in business through tailored resources, community building and improved access to capital. In addition to the BMO Celebrating Women Grant Program, this program oversees a nationwide group of Advocates – Commercial and Business Banking Relationship Managers trained and committed to working with women business owners and entrepreneurs. This team is augmented further through partnerships with key organizations such as the Women Presidents Organization, GroYourBiz, Women Business Enterprises, and Women Get On Board. About BMO Financial Group BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
