BMO hires former BofA executive Aron Levine to lead US units, rejigs teams
TORONTO, June 5 (Reuters) - Bank of Montreal (BMO.TO), opens new tab has hired former Bank of America (BAC.N), opens new tab executive Aron Levine to head some of its main U.S. businesses, the Canadian lender said on Thursday.
Levine will lead BMO's U.S. personal and business banking, commercial banking and wealth management businesses as the lender restructures its business in the United States.
He will be based at BMO's U.S. headquarters in Chicago and report to BMO CEO Darryl White and the bank's U.S. CEO Darrel Hackett.
The bank made several executive changes alongside Levine's appointment as it bets on the U.S. market.
Over almost 32 years at BofA, Levine expanded its investment business and grew its branch network, often criss-crossing the country to visit its offices. He left BofA in April, most recently serving as its president of preferred banking.
"These experienced leaders bring the capabilities that will help us accelerate our performance," White said. Combining the U.S. businesses will help BMO boost its return on equity, he added.
BMO's focus on the United States follows its $16 billion acquisition of Bank of the West in 2023, which tapped into a lucrative market in the western United States. It is seeking new opportunities outside of its home market in Canada.
The bank has also hired Tony Sciarrino from JPMorgan Chase (JPM.N), opens new tab as the head of its U.S. commercial banking business and named former EY executive Kristin Milchanowski as its chief AI officer.
Ernie Johannson, BMO's head of North American personal and business banking, will retire in 2026, the lender said.
Sharon Haward-Laird and Mat Mehrotra were named co-heads for Canadian personal and commercial banking. Haward-Laird will also be responsible for Canadian commercial banking and North American shared services, while Mehrotra will lead Canadian personal and business banking.
Nadim Hirji, BMO's commercial banking head, will become vice chair, the bank said.
All appointments are effective July 7, BMO said.
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