BMO Financial Group is shuffling leadership roles in its North American personal and business banking group and hiring a longtime Bank of America executive to oversee three stateside businesses.
Starting in early July, Aron Levine will serve as group head and president of BMO U.S. He will lead the company's U.S. personal and business banking, commercial banking and wealth management units, the Toronto-based bank said Thursday in a press release.
Levine — who
Levine's hiring is one of several executive changes that BMO announced Thursday, most of which will become effective on July 7. They appear to be driven at least in part by the pending retirement of Erminia "Ernie" Johannson, the head of BMO's North American personal and business banking group since 2020. Johannson plans to step down from that role in early 2026, the bank said.
Johannson, a frequent American Banker Most Powerful Women in Banking honoree who was
With Johannson's expected exit, BMO is divvying up her responsibilities. Sharon Haward-Laird will be promoted to group head of Canadian commercial banking and North American shared services, as well as co-head of Canadian personal and commercial banking, the release said.
Mat Mehrotra will become group head of Canadian personal and business banking, and will join Haward-Laird as co-head of Canadian personal and commercial banking, according to the company.
Haward-Laird is currently BMO's general counsel and will remain on the company's executive committee after starting in her new role. Mehrotra, who is currently BMO's chief digital officer and head of Canadian products, will join the executive committee. They both will report to White.
Following the Bank of the West acquisition, BMO is striving to improve
BMO is trying to achieve a return on equity in its U.S. business of at least 12% in the next three to five years. That's nearly double what it has reported for its fiscal year to date — 6.2%, or 7% on an adjusted basis.
The executive appointments announced Thursday are meant in part to support the company's growth goals in Canada and in "key markets" across the U.S., according to the release. The appointments "streamline and accelerate decision-making and enable improvement in profitability, loyalty and efficiency by placing high-performing leaders in high-impact mandates."
BMO Financial Group has sold a U.S. credit card portfolio and exited a franchise loan portfolio as part of an effort to achieve a return on equity of at least 12% in its U.S. business.
"Today's announcement reflects BMO's deep strength in talent development and planning, and our ability to attract exceptional leaders to serve our clients," White said in the release. "This next step supports the rebuilding of our [return on equity], including optimizing our U.S. structure by combining our U.S. personal and business banking, commercial banking, and wealth management businesses to deliver for our clients."
Among the other management changes that BMO announced Thursday:
Nadim Hirji will be promoted to vice chair of BMO commercial banking. Hirji has overseen BMO's North American commercial banking business since 2023, according to the release. His new role will focus on growth initiatives in commercial banking in Canada and the U.S.
Mona Malone, BMO's chief human resources officer and a member of the executive committee, will gain the additional title of chief administrative officer. Malone, who joined BMO in 1996, will lead marketing, communications, human resources, corporate estate and procurement. She will report to White and also serve on the U.S. management committee.
Paul Noble, who is currently BMO's chief legal officer, will succeed Haward-Laird as general counsel and become group head of legal and regulatory compliance. Noble, who has worked at the bank since 2003, will join BMO's executive committee and report to White.
