There are changes ahead for the leadership team of BMO Group as two senior executives have decided to retire.
Chief risk officer Surjit Rajpal has chosen to retire at the end of January 2019 and Gilles Ouellette, group head of BMO Asset Management and Vice-Chair, International has also chosen to retire in 2019.
The banking group’s current head of capital markets, Pat Cronin, will succeed Rajpal in the chief risk officer role, effective November 1, 2018.
"Pat is an exceptional business leader, experienced, astute, thorough, and deeply qualified for this assignment," said Mr. White. "He brings a balanced risk view and knowledge of markets, complemented by a clear customer focus. Pat and the Risk team are very well positioned to help us be leaders in taking and managing prudent risk."
Cronin will be succeeded by Dan Barclay, currently co-Head, Global Investment & Corporate Banking while Peter Myers will become Head, Global Investment & Corporate Banking, BMO Capital Markets.
Current group head of BMO Wealth Management, Joanna Rotenberg, will see her role expanded to incorporate the asset management role, succeeding Ouellette.
She was previously a highly regarded Partner at McKinsey & Company in Toronto, where she focused on the firm's financial services practice, spanning wealth and asset management, banking and insurance. She joined BMO in 2010.