TORONTO — BMO Financial Group has made changes to its senior executive ranks including new leadership in its U.S. division as it looks to boost operations in the country.
The bank said Thursday that the numerous shifts include appointing Aron Levine, who came from decades at Bank of America, to group head and president of BMO U.S.
Levine will lead newly combined U.S. divisions of the bank as it aims to boost its key return-on-equity profitability measure, said chief executive Darryl White in a statement.
"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."
Levine will report to Darrel Hackett, chief executive of 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 made a big push into the U.S. a few years ago with its US$16.3-billion acquisition of Bank of the West, but struggled through some loan performance issues last year that affected profitability.
The bank also says Nadim Hirji, who has led BMO’s North American commercial banking business since March 2023, will be appointed vice-chair of BMO commercial banking.
The changes come as BMO says 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 of 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 of 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 of legal and regulatory compliance.
This report by The Canadian Press was first published June 5, 2025.
Companies in this story: (TSX:BMO)
Ian Bickis, The Canadian Press
