The Canadian lender named Aron Levine, a former Bank of America executive, to lead personal and business banking, commercial banking and wealth management south of the border, reporting to U.S. CEO Darrel Hackett and BMO CEO Darryl White. (The Logic)
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The Canadian lender named Aron Levine, a former Bank of America executive, to lead personal and business banking, commercial banking and wealth management south of the border, reporting to U.S. CEO Darrel Hackett and BMO CEO Darryl White. (The Logic)
Talking point: The changes come as BMO works to turn around credit issues that plagued the bank in the past, particularly in its U.S. commercial loan book. The effort appears to be paying off, although BMO’s loan balances in U.S. personal and commercial banking declined in the second quarter. In a note Thursday, CIBC analyst Paul Holden revised his price target for BMO to $156 from $150, citing better growth prospects in the U.S. compared to Canada’s other big banks—but naming “key personnel changes, and changes in business strategy” as risks. BMO also announced Ernie (Erminia) Johannson, head of North American personal and business banking, will retire in 2026, along with other leadership changes in Canadian banking, wealth management, human resources and legal.
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