BMO announced a leadership transition for the head of its U.S. operations. The bank says Darrel Hackett will retire from his role as U.S. CEO after more than 22 years with BMO and will transition to an executive vice-chair and senior adviser role effective Nov. 1. BMO says Tim Cox has been appointed, effective Nov. 1, as the U.S. country head of BMO Financial Group and the CEO of its U.S. subsidiaries BMO Financial Corp. and BMO Bank N.A. Cox joined the bank in 2010 and has held various legal and regulatory compliance roles. Darryl White, BMO CEO, says in a news release that Hackett played a role in helping build the U.S. business. The announcement comes after BMO, TD Bank and other large U.S. lenders were identified in a report by the U.S. Office of the Comptroller of the Currency about debanking and limiting access to financial services for certain U.S. customers due to their political beliefs. This report by The Canadian Press was first published Oct. 20, 2026.
