BMO announces Quebec leadership transition plans

Veteran leader with nearly five decades of service will give way to Big Six Bank's new President, Quebec

BMO announces Quebec leadership transition plans

One of Canada’s Big Six banks will see a changing of the guard in its Quebec business in the next few months.

BMO has announced that Claude Gagnon (pictured above, left), its President, Operations, in Quebec intends to retire as of October 31.

"I would like to recognize Claude Gagnon's exceptional contribution to the Bank over the past 47 years," said Darryl White, Chief Executive Officer, BMO, said in a statement. “Claude has strengthened the bank's leadership position in Quebec and has ensured we have the opportunity to move to even greater heights over the long term. He will be greatly missed."

Gagnon’s lengthy record of service at the bank includes stints in several key positions across the personal and private banking sectors. He has also led sales teams, financial services and investment activities, as well as business development.

"I thank my many colleagues with whom we accomplished so much over the course of my tenure at BMO," Gagnon said. "It has been a real honour to have been able to pursue the legacy of the late Jacques Ménard and be part of such an accomplished team.

"I am especially proud of our progress in supporting Indigenous communities, particularly our outreach to Indigenous leaders in partnership with chambers of commerce throughout Quebec to help support regional economic development," he added.

Following Gagnon’s retirement, BMO said that Grégoire Baillargeon (above, right), who is currently its Managing Director and Co-Head, BMO Capital Markets, Quebec, will become President, BMO Financial Group, Quebec as of November 1.

“Not only is Grégoire a trusted advisor to our corporate clients in a wide range of economic sectors, he is also engaged in social causes that address inequality of opportunity and eliminate barriers to full economic inclusion," White said. “I have full confidence in Grégoire and his ability to pilot the bank's continued success, together with our leadership team in Quebec."

Since joining BMO more than 17 years ago, Baillargeon has built a track record that demonstrates client-focused vision and business leadership skills, which will be instrumental as he leads the bank’s efforts to drive economic and social impact in Quebec.

He will also take on the role of Vice Chair, working with Capital Markets to maintain and build deep client relationships and supporting the growth and development of all the bank's activities across the province.

“I am thrilled and honoured by the opportunity to lead BMO to new heights in the province and would like to thank Claude for his incredible leadership and support," Baillargeon said. "I look forward to working closely with our exceptional leaders and teams across all business lines to continue enabling winning performance and long-term success for our clients and stakeholders in Quebec.”