BMO Financial Group Makes Key Executive Changes for U.S. Operations

Key Executive Changes at BMO Financial Group

BMO Financial Group has recently made significant executive changes, signaling a strategic move in its U.S. operations. Tim Cox has been appointed as the U.S. Country Head of BMO Financial Group and CEO of its U.S. subsidiaries, including BMO Financial Corp. and BMO Bank N.A. This transition is effective from November 1, 2026.

Tim Cox’s new role marks a notable progression in his career at BMO, where he has been a part of the team since 2010. Throughout his tenure, he has occupied various senior leadership positions, including that of Global Chief Regulatory Officer and most recently, U.S. General Counsel. His extensive experience and understanding of BMO's operations are expected to drive the U.S. franchise's continued success. According to Darryl White, the Chief Executive Officer of BMO Financial Group, Cox’s leadership qualities and commitment to client service will be crucial in steering the company’s future in the U.S. market. White stated, "Tim is a highly respected leader who has helped shape BMO's growth over the past 15 years," emphasizing Cox’s role in strengthening the company’s governance and regulatory foundation.

Accompanying this appointment is the news of Darrel Hackett’s retirement from his position as U.S. CEO after serving BMO for over 22 years. Hackett played a pivotal role in advancing BMO's North American growth strategy and is credited with building the robust U.S. business the company enjoys today. Following his retirement, Hackett will transition to the role of Executive Vice-Chair and Senior Advisor, effective the same day as Cox’s appointment.

Darryl White expressed gratitude for Hackett’s contributions, noting, "Darrel has been a tireless advocate for our clients, our employees, and the communities we serve," and underscored the importance of Hackett's relationships in maintaining BMO's reputation and service delivery across its markets.

BMO Financial Group, one of the largest financial institutions in North America, emphasizes growth driven by a purpose of making a positive impact in business and society. With total assets reaching $1.5 trillion as of July 31, 2026, BMO has been serving millions of customers for over two centuries, positioning itself as a leader in personal and commercial banking, wealth management, and investment banking.

As Tim Cox steps into his new role, the financial community watches closely, anticipating how his leadership will influence BMO's operations and ethical practices within the financial ecosystem. Cox’s extensive background, combined with the continuity offered by Hackett's new advisory role, suggests a balanced approach towards innovation and tradition at BMO as it navigates the complexities of the financial landscape in the U.S.

About BMO Financial Group

BMO Financial Group, headquartered in Toronto and Chicago, has built a legacy that spans over 200 years. It is committed to positively influencing economies, fostering sustainability, and promoting inclusivity through its broad range of services offered to customers across Canada, the United States, and select global markets. As BMO continues to expand its footprint, the synergy between its seasoned leaders like Cox and Hackett is expected to be a driving force in realizing the firm’s strategic goals and community engagements.