BMO Accelerates US Growth, Seeing Path to Reach Target Quicker

Bank of Montreal’s new US banking head is ramping up growth plans for the Canadian banking giant south of the border, hiring bankers, opening and revamping branches, and building out its wealth-advisement business.

Bank of Montreal wants to generate a 12% return on equity from the US by the end of 2027, said Aron Levine, who was appointed president of BMO US last June. His division has added over 100 client-facing bankers and wealth advisers in the past 12 months.