05:21 PM EDT, 09/17/2025 (MT Newswires) -- Bank of Montreal ( BNKD ) (BMO.TO, BMO) on Wednesday said Chief Financial Officer Tayfun Tuzun will retire in early 2026, with Rahul Nalgirkar named to succeed him effective Jan. 1.

Tuzun, who joined BMO in 2020, will remain on the board of directors of BMO Financial Corp., the bank's U.S. subsidiary, where he has served since 2023.

Nalgirkar, currently CFO of BMO U.S., will serve as deputy CFO during a transition period before assuming the role and joining the bank's executive committee. He joined BMO in 2022 after holding senior finance roles at Fifth Third Bank, GE Capital, Citigroup, and CIT.

"Rahul is a dynamic, strategic, finance leader with a deep understanding of the financial services industry in North America and a proven collaborator and catalyst for performance," said chief executive Darryl White.

BMO shares closed unchanged at $178.62 on the Toronto Stock Exchange.