BMO today appointed Darrel Hackett as U.S. Chief Executive Officer of BMO Financial Group, President & CEO of BMO Harris Bank N.A. and CEO of BMO’s U.S. holding company, BMO Financial Corp. (BFC). Hackett will report to CEO Darryl White, join the bank’s executive committee and will chair the U.S. Management Committee. His appointment will be effective June 1.
BMO completed its acquisition of Bank of the West on Feb. 1. BMO has started integrating Bank of the West into BMO’s operations, a process expected to take until Labor Day weekend to complete.
Hackett joined BMO in 2004. He led the bank’s U.S. Business Banking group as head of the bank’s North American Integrated Channels team. He was most recently BMO wealth management U.S. president, leading the company’s wealth management professionals team.
“As our U.S. CEO, Darrel’s track record of dedication to our clients’ success, extensive community leadership, and commitment to making progress for the elimination of barriers to inclusion will be key to the continued success of BMO U.S.,” said Darryl White, CEO of BMO Financial Group. “Darrel is a purpose-driven, high performing and client-focused leader and I am excited to work with him in this new role as Team BMO continues to break new ground in the U.S. market.”
Hackett’s appointment follows Dave Casper’s retirement. Casper was BMO Financial Group’s U.S. CEO.
Casper led BMO’s U.S. commercial banking business since 2010, BMO’s North American commercial banking business since 2015. and has served as U.S. CEO since 2018. Casper joined the company in 1984.
“Dave’s leadership has been instrumental to BMO’s growth, particularly in the United States, as we have supported the growth ambitions of our clients and contributed to a thriving economy throughout the communities we serve,” White said. “Dave’s commitment to the home of BMO’s U.S. headquarters, the City of Chicago, is legendary. Under Dave’s leadership of BMO’s commercial banking businesses, BMO has progressed to become a top five commercial lender in North America, and Dave played a key role in our recent acquisition of Bank of the West.”
Following Casper’s retirement, BFC Board of Directors appointed him to serve as board chair. This summer, Casper will succeed John Rau who has served as chair since 2017 and as a board member since 2008.
“We are grateful for the extraordinary guidance and leadership John has provided throughout his distinguished tenure on the board,” White said. “He is an important part of our U.S. bank’s strong governance model and I look forward to Dave bringing his many years of experience to the role of Chair.”
Rau said he was honored to serve as a member and the board director.
“The opportunity to work with, and alongside, such dedicated professionals on the board and among management is a true privilege,” Rau said. “Dave’s skill set and leadership will be a great fit for the Chair.”
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