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BMO Financial Group Announces Executive Appointments Français
BMO Financial Group Announces Executive Appointments Français

Cision Canada

time6 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

BMO Financial Group making changes to senior executive ranks
BMO Financial Group making changes to senior executive ranks

Hamilton Spectator

time6 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)

BMO Financial Group making changes to senior executive ranks
BMO Financial Group making changes to senior executive ranks

Winnipeg Free Press

time6 days ago

  • Business
  • Winnipeg Free Press

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. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published June 5, 2025. Companies in this story: (TSX:BMO)

BMO Lowers Fees on Asset Allocation ETFs to Deliver Greater Value to Investors Français
BMO Lowers Fees on Asset Allocation ETFs to Deliver Greater Value to Investors Français

Cision Canada

time02-06-2025

  • Business
  • Cision Canada

BMO Lowers Fees on Asset Allocation ETFs to Deliver Greater Value to Investors Français

BMO's Asset Allocation Management Fees Among the Lowest in Canada TORONTO, June 2, 2025 /CNW/ - BMO Asset Management Inc. ("BMO AM") today announced it is reducing the annual management fee on some of its most popular asset allocation funds – BMO All-Equity ETF (TSX: ZEQT), BMO Balanced ETF (TSX: ZBAL / ZBAL.T), BMO Conservative ETF (TSX: ZCON), BMO Growth ETF (TSX: ZGRO / ZGRO.T). "BMO is committed to driving innovation across its product line and delivering unrivaled value for investors," said Sara Petrcich, Head, ETFs & Alternatives, BMO Global Asset Management. "We're proud to further lower costs in one of the fastest-growing investment categories – asset allocation ETFs. This move reinforces our unwavering commitment to putting investors first and empowering them to achieve meaningful, long-term financial progress." Effective after the close of business on June 6, 2025, the annual management fee for the ETFs will be reduced as follows: For more information, please visit Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or simplified prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF's simplified prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence. 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.

BMO Financial Group reports Q2 profit of $1.96B as revenue also rises
BMO Financial Group reports Q2 profit of $1.96B as revenue also rises

Hamilton Spectator

time28-05-2025

  • Business
  • Hamilton Spectator

BMO Financial Group reports Q2 profit of $1.96B as revenue also rises

TORONTO - BMO Financial Group reported a rise in profit in the second quarter as revenue rose and the bank's provisions for potentially bad loans increased less than analysts expected. The bank on Wednesday reported a net income of $1.96 billion, up from $1.87 billion for the same quarter last year. It also announced an eight cent, or five per cent, increase in its third quarter dividend to $1.63 per common share. 'We're supporting our clients through the current environment from a position of strength,' said chief executive Darryl White in a statement. 'Our robust capital position enables us to return capital to shareholders through buybacks and higher dividends, and provides resilience for a range of economic outcomes.' The bank says profit amounted to $2.50 per diluted share for the quarter ended April 30, up from $2.36 per diluted share a year earlier. Revenue totalled $8.68 billion, up from $7.97 billion in the same quarter last year. The bank's provision for credit losses amounted to $1.05 billion in its latest quarter, up from $705 million in the same quarter last year. However BMO's provisions on impaired loans, the segment it has less confidence it will be paid back, dropped for a second quarter in a row. Impaired provisions came in at $765 million, down from $1.11 billion two quarters ago. Provisions on performing loans, where it has less concern, are also down from two quarters ago. On an adjusted basis, BMO says it earned $2.62 per share in its latest quarter, up from an adjusted profit of $2.59 per share a year earlier. Analysts on average had expected BMO to earn an adjusted profit of $2.53 per share, according to LSEG Data & Analytics. The bank's Canadian banking segment reported net income of $782 million, down 10 per cent from a year earlier. Its U.S. banking division reported a net income of $546 million, up $3 million from the same quarter last year. BMO Wealth Management reported a net income of $361 million, up 13 per cent from last year. Capital Markets profit was $431 million, down six per cent from last year. This report by The Canadian Press was first published May 28, 2025. Companies in this story: (TSX:BMO)

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