TORONTO, June 5 (Reuters) - Bank of Montreal ( BNKD )
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 )
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.