BMO Financial Group today announced the appointment of Bill Downe as chief operating officer, BMO Financial Group.

Previously, Downe served as deputy chair, BMO Financial Group and CEO, BMO Nesbitt Burns. His new appointment is effective from February 1.

In his new role, Downe will be responsible for all the operating units of BMO Financial Group, including the personal and commercial client group, investment banking group, private client group and technology and solutions. He will continue to be responsible for corporate marketing.

Yvan Bourdeau is appointed CEO, BMO Nesbitt Burns and head, investment banking group, effective February 1.

Bourdeau has served as president and COO, BMO Nesbitt Burns since 1999.

His career at BMO Financial Group has spanned more than 30 years in a wide variety of roles, including various positions in the Far East as well as treasurer and head of portfolio risk management.

Also effective from February 1, Karen Maidment is appointed CFO and chief administrative officer, BMO Financial Group.

Commenting on the appointment of Downe, Tony Comper, president and CEO, BMO Financial Group, said, “Bill’s track record of success, client focus and experience in leading a wide range of our businesses in both Canada and the United States have prepared him to provide strong enterprise-wide leadership in the role of chief operating officer.”

As COO, Downe will report directly to Comper.

Reporting Downe in his new role are: Bourdeau; Lloyd Darlington, president and CEO, technology and solutions; Gilles Ouellette, president and CEO, private client group, BMO Financial Group and deputy chairman, BMO Nesbitt Burns; Rob Pearce, president and CEO, personal and commercial client group – Canada; and Frank Techar, president and CEO, Harris Bankcorp.

Continuing to report directly to Tony Comper are: Maidment; and Rose Patten, senior executive vp, human resources and strategic management.


Commenting on Bourdeau’s appointment, Downe said, “This appointment is consistent with our overall goal of strengthening strategic leadership within the Investment Banking Group. We have already taken steps to integrate Capital Markets functions in order to better align coverage with our clients’ needs and increase cross-business sales.”

As part of this strategy, and to further integrate coverage and product delivery, Downe said the investment banking group is introducing a co-presidency model.

Reporting to Bourdeau as co-[resident, BMO Nesbitt Burns, investment banking group will be Tom Milroy and Eric Tripp, who will share overall responsibility and accountability for the investment banking group. These appointments are also effective from February 1

Downe added, “Yvan, Eric and Tom have a longstanding partnership, having worked closely together for the past seven years, and I am confident that they can achieve our objectives for this business.”