Bank of Montreal

The Toronto-based bank said that Aron Levine will become group head and president of BMO U.S. It also announced the upcoming retirement of Ernie Johannson, head of North American personal and business banking.

BMO Financial Group has sold a U.S. credit card portfolio and exited a franchise loan portfolio as part of an effort to achieve a return on equity of at least 12% in its U.S. business.

Bank of Montreal in its fiscal second quarter set aside more money to cover loans that are still in good standing, highlighting concern about the fate of the North American economy.

The third-largest Canadian bank by assets is preparing itself and clients for the Trump administration's proposed 25% tariffs on Canada and Mexico.

Bank of Montreal dismissed a managing director on its US mortgage-backed bond desk in connection with a regulatory probe into misleading marketing practices.

The Toronto-based bank set aside CA$1.5 billion in its fiscal fourth quarter to cover potentially bad loans. Executives say higher-than-normal impaired losses could persist next year.

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When BMO acquired Bank of the West, BMO's integration team was tasked with completing more than 1,500 requirements to unify hundreds of systems, including products, services, technology and processes.

 Johannson led the successful integration of one of the largest U.S. banking acquisitions last year with the acquisition of Bank of the West.

In a new lawsuit, a former BMO employee says he was fired because he reported his concern that the bank was intentionally charging too much to clients who used a foreign-exchange product. BMO denies the allegations.