TORONTO, June 5 (Reuters) - Bank of Montreal ( BNKD )
has hired former Bank of America 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 )
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.