Bill Downe, Bank of Montreal CEO, is going to retire on October 31, 2017. He will be succeeded by COO Darryl White, effective November 1, to correspond with the start of the new fiscal year.
Downe has served as the bank’s CEO for more than a decade and, as BMO’s 2016 proxy circular says, he’s considered one of the “most experienced” leaders among Canada’s banks. White was appointed COO in November of last year.
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“White’s leadership has been steadfast and successful […] and he will maintain and build on our positive momentum,” says Robert Prichard, chairman of BMO Financial Group, in a release, noting White has spent more than two decades at BMO.
After Downe retires, says Prichard, he will remain involved in an advisory capacity for a brief period.