Bank of Montreal has named Frank Techar as president and CEO of its Harris Bank subsidiary in Chicago.

Techar will succeed Al McNally who is retiring. McNally will become non-executive chairman of the board for both Harris Bankcorp and Bankmont Financial, the holding company for Bank of Montreal’s U.S. businesses. He will also serve in a consulting capacity. The changes are effective September 1.

Techar, 45, will be based at Harris Bank’s headquarters in downtown Chicago. He will report to William Downe, CEO of Bankmont Financial and deputy chair of BMO. Techar will also become a member of BMO’s executive committee. “Frank Techar is an outstanding executive with a strong track record of achievements. He is superbly equipped to provide the next generation of leadership at Harris Bank,” says Tony Comper, chairman and CEO of BMO.

“Frank will lead Harris in the next phase of our expansion. He will work closely with our leadership team in the U.S. and Canada to ensure a fully integrated approach as Bank of Montreal continues aggressive U.S. growth in our personal and commercial, wealth management and investment banking businesses,” adds Comper.

Techar was executive vice president Small Business Banking, Personal and Commercial Client Group. He earned a Bachelor of Science and Engineering degree from Princeton University and an MBA from the University of Denver, and completed the University of Southern California Executive Program.

A native of Minnesota, he joined BMO’s Denver office in 1984 and went on to hold various business development assignments in Denver and Houston. He later served as the senior company executive in Europe, based in London.