Lender of Montreal is expanding the leadership crew for its private wealth enterprise in Canada with two new co-heads who will oversee the banks’ investment advisers and private banking workforce.
Meghan Meger and Geoff Newton have been appointed co-heads of BMO Personal Wealth Canada and will begin their new roles on June 1.
“BMO’s Canadian Non-public Wealth business enterprise is a driving drive of the bank’s technique and we search forward to innovating and advancing the business underneath Meghan and Geoff’s knowledgeable management,” BMO Wealth Management group head Deland Kamanga said in an assertion.
Ms. Meger and Mr. Newton will replace former head of BMO Private Wealth for Canada, Andrew Auerbach, who announced his retirement past month.
The two co-heads will be dependable for growing BMO’s non-public prosperity company in Canada, which contains the bank’s personal banking enterprise and BMO Nesbitt Burns, a whole provider brokerage with more than 1,000 investment advisers. In 2019, the bank merged the two divisions, which at the time managed more than $195-billion in belongings for close to 162,000 client homes.
The collaboration of financial commitment advisers and non-public bankers is a system being executed across all of the Significant Six banking companies as prosperity administrators contend to seize a larger sector share of superior-internet-truly worth clients – or individuals with investable property of $1-million or more.
Ms. Meger joined BMO in 2004 as a senior private banker. Prior to her new position in June, she was the regional president for the Prairies for BMO Personal Wealth. Mr. Newton has been with BMO Nesbitt Burns due to the fact 1997 and has held various senior administration roles within the business enterprise, which includes his most new appointment as head, approach and execution.
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