Demographics

The Toronto-based bank named Rahul Nalgirkar as incoming finance chief. Nalgirkar, who joined BMO in 2022 from Fifth Third, will succeed the retiring Tayfun Tuzun, who came to BMO in 2020 after working at Fifth Third.

Founder and executive chairman Edward Nigro will step back into the top executive spot after Ryan Sullivan informed the company he didn't plan to renew his employment contract.

Matt Mullet, the company's longtime chief financial officer, said he's spent the past year getting accustomed to the people side of management.

The Providence, Rhode Island-based bank has hired Aunoy Banerjee as its next CFO, a role that will be vacated by State Street hire John Woods. Banerjee is currently the CFO of Barclays Bank PLC.

The decision to rejoin the CEO and chairman roles comes roughly two months after regulators removed an asset cap that had stunted the San Francisco-based company's growth for seven years.

The Evansville, Indiana-based bank has hired Tim Burke to oversee commercial and community banking, along with wealth, credit and marketing.

The 66-year-old banker will take on the role of executive chairman at Moelis & Co. Co-President Navid Mahmoodzadegan will become CEO.

Main Street Financial's ouster of James VanSickle came three months after its chairman characterized the company's financial performance as being "on the upswing."

The Toronto-based bank said that Aron Levine will become group head and president of BMO U.S. It also announced the upcoming retirement of Ernie Johannson, head of North American personal and business banking.

The 5-year-old experiment of tying executive compensation to achieving diversity goals appears to be ending. The abrupt shift comes amid the Trump administration's crackdown on DEI.

The leaders that saw their salaries skyrocket the most in 2024 had also gotten pay cuts in the prior year.

"There were four layers between me and the senior managers of the products and like 14 layers across the organization, which is too much for an organization that needs to be agile," David Velez said.

BlackRock veteran Mark Wiedman is taking the torch as president at PNC. The seeming successor to longtime CEO Bill Demchak will be tasked with helping the bank evolve.

Terry Dolan, vice chair and chief administration officer at the Minnesota bank, had been at the company for more than 25 years.

The startup announced over $20 million in funding in January and plans to launch in the second quarter of 2025.

The Champaign, Illinois-based bank said Jeffrey Jones stepped down from his post days before it could close its acquisition of CrossFirst Bankshares. Jones' exit was not deal related, Busey said.

The New York-based institution tapped the former Republic First CEO to help oversee its transformation from a predominantly multifamily lender into business bank.

Since August, Truist, KeyCorp and Goldman Sachs have granted one-time stock awards to certain executives they want to keep in place. One analyst wants shareholders to reject the bonuses, while consultants say there are valid reasons for banks to make the awards.

Small lenders across the country filled leadership positions, including The Peoples Savings Bank in Ohio, which promoted from within to name its first woman CEO.

The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.