Latest news with #AronLevine
CTV News
4 days ago
- Business
- CTV News
BMO Financial Group makes executive changes including U.S. leadership
A person makes their way past the Bank of Montreal (BMO) building in the Financial District of Toronto, on Monday, Aug. 14, 2023. THE CANADIAN PRESS/Spencer Colby BMO Financial Group has made changes to its senior executive ranks including new leadership in its U.S. division as it looks to boost operations in the country. The bank said Thursday that the numerous shifts include appointing Aron Levine, who came from decades at Bank of America, to group head and president of BMO U.S. Levine will lead newly combined U.S. divisions of the bank as it aims to boost its key return-on-equity profitability measure, said chief executive Darryl White in a statement. '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.' Levine will report to Darrel Hackett, chief executive of BMO U.S., who will have overall accountability for BMO's U.S. business and serve as chair of the bank's U.S. management committee. BMO made a big push into the U.S. a few years ago with its US$16.3-billion acquisition of Bank of the West, but struggled through some loan performance issues last year that affected profitability. The bank also says Nadim Hirji, who has led BMO's North American commercial banking business since March 2023, will be appointed vice-chair of BMO commercial banking. The changes come as BMO says Erminia Johannson plans to retire in early 2026, after leading BMO's North American personal and business banking group since 2020. Johannson will be appointed senior adviser. The bank says Sharon Haward-Laird will be appointed group head of Canadian commercial banking and North American shared services and co-head of Canadian personal and commercial banking, while Mat Mehrotra will be appointed group head of Canadian personal and business banking and co-head of Canadian personal and commercial banking. Mona Malone will be appointed chief administrative officer and continue to serve as chief human resources officer, while Paul Noble will be appointed general counsel and group head of legal and regulatory compliance. This report by The Canadian Press was first published June 5, 2025. Companies in this story: (TSX:BMO) Ian Bickis, The Canadian Press
Reuters
5 days ago
- Business
- Reuters
BMO hires former BofA executive Aron Levine to lead US units, rejigs teams
TORONTO, June 5 (Reuters) - Bank of Montreal ( 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.
Cision Canada
5 days ago
- Business
- Cision Canada
BMO Financial Group Announces Executive Appointments Français
Aron Levine appointed Group Head and President, BMO, U.S. 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
CTV News
5 days ago
- Business
- CTV News
BMO hires former BofA executive Aron Levine to lead U.S., rejigs teams
People make their way past the Bank of Montreal (BMO) building in the Financial District of Toronto, Monday, Aug. 14, 2023. THE CANADIAN PRESS/Spencer Colby Bank of Montreal has named former Bank of America executive Aron Levine as the head of its U.S. business, the Canadian lender said on Thursday. Levine will lead BMO's U.S. personal and business banking, commercial banking and wealth management businesses. He will report to BMO CEO Darryl White and Darrel Hackett, its U.S. CEO. 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 investments 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 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 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. (Reporting by Nivedita Balu in Toronto. Editing by Lananh Nguyen and Mark Potter)
Hamilton Spectator
5 days ago
- Business
- Hamilton Spectator
BMO Financial Group making changes to senior executive ranks
TORONTO - BMO Financial Group made changes to its senior executive ranks including the appointment of Aron Levine as group head and president, BMO U.S. Levine will lead BMO's U.S. personal and business banking, U.S. commercial banking and U.S. wealth management businesses, effective July 7. He will report to BMO Financial Group chief executive Darryl White and Darrel Hackett, CEO, BMO U.S., who will have overall accountability for BMO's U.S. business and serve as chair of the bank's U.S. management committee. BMO also says Nadim Hirji, who has led BMO's North American commercial banking business since March 2023, will be appointed vice-chair, BMO commercial banking. The changes come as BMO says Ernie (Erminia) Johannson plans to retire in early 2026, after leading BMO's North American personal and business banking group since 2020. Johannson will be appointed senior adviser. The bank says Sharon Haward-Laird will be appointed group head, Canadian commercial banking and North American shared services and co-head of Canadian personal and commercial banking, while Mat Mehrotra will be appointed group head, Canadian personal and business banking and co-head of Canadian personal and commercial banking. Mona Malone will be appointed chief administrative officer and continue to serve as chief human resources officer, while Paul Noble will be appointed general counsel and group head, legal and regulatory compliance. This report by The Canadian Press was first published June 5, 2025. Companies in this story: (TSX:BMO)
