Bank of Montreal makes changes in top management

Canada-based Bank of Montreal (BMO) has shuffled its senior executive appointments, as part of its next phase of growth plan.

Tom Flynn has been appointed as new executive vice-president and chief financial officer, succeeding Russ Robertson, effective 23 March 2011.

Previously, Flynn was executive vice-president and chief risk officer, where he strengthened BMO’s risk function and the management of risk across the organization.

Flynn will continue to report to the president and CEO. Flynn joined BMO in 1992 and has served in a number of senior roles.

Russ Robertson has been appointed as executive vice-president of Business Integration, BMO Financial Group and vice-chair of Harris Financial, effective 23 March 2011.

Robertson will oversee the effective integration of the bank’s financial infrastructure across all businesses and focus on the successful integration of Harris and Marshall & Ilsley, following closing.

Prior to joining BMO in 2008, Robertson was managing partner of Arthur Andersen Canada and Vice-Chairman of Deloitte and Touche (Canada). Mr. Robertson continues to report to the President and CEO.

Surjit Rajpal has been named as deputy head, Enterprise Risk and Portfolio Management, effective 5 January, reporting to Tom Flynn.

He will be appointed as executive vice-president and chief risk officer, effective 23 March 2011, reporting to the president and CEO. Rajpal joined BMO in 1982, and most recently he was the executive managing director and global head of Loan Products and Merchant Banking.

BMO Financial Group president and CEO Bill Downe said these leaders are highly qualified and their appointments reflect a significant step the company is making toward realizing the next phase of growth plan.

In line with our ongoing succession plans, the changes announced today position us well as we push ahead with our intensive customer agenda, including our plans to accelerate our growth in the US as we move to combine our P&C US operations and introduce a larger bank with a significant presence in the US Midwest," Downe said.