BMO appointed Tim Cox as United States country head and chief executive of its US subsidiaries from 1 November. He will lead BMO Financial Corp and BMO Bank NA. Cox will also join the group executive committee and chair the US management committee. Darrel Hackett will leave the US chief executive role and become executive vice-chair and senior adviser on the same date.
Cox joined BMO in 2010 and has held senior legal and regulatory-compliance positions, including global chief regulatory officer. He has served as US general counsel since 2022. Hackett intends to retire from the chief executive role after more than 22 years at BMO, while remaining with the bank in his new advisory post.
LEADERSHIP TRANSITION
Cox will report to BMO group chief executive Darryl White. The bank said his work over 15 years supported growth of the US business while strengthening governance, risk management and regulatory foundations. His appointment keeps oversight of the American franchise with an executive already familiar with its legal and supervisory framework.
Hackett has led BMO’s United States operations during a period of geographic expansion. Banking Dive reported that BMO established a West Coast foothold through its 2023 acquisition of Bank of the West. The publication said the transition favours continuity as the lender develops that enlarged footprint.
UNITED STATES STRATEGY
Banking Dive reported that BMO plans to open 130 branches in California and another 15 in Arizona by 2031. BMO said it had total assets of $1.5 trillion at 31 July 2026 and served more than 13 million customers across its markets. Cox’s legal and regulatory background therefore intersects with a multi-year expansion programme.
The appointments take effect on 1 November, making completion of the leadership handover the next immediate milestone. Subsequent disclosures can show whether BMO changes its US management structure or timetable for the western branch programme under Cox.