BMO Financial Group has appointed U.S. General Counsel Tim Cox to lead two U.S. subsidiaries, setting a leadership change at its American operations as current chief Darrel Hackett prepares to shift roles.
BMO said Oct. 20 that Cox’s appointments take effect Nov. 1, 2026. He will become U.S. country head and chief executive of BMO Financial Corp. and BMO Bank N.A. Cox will report to BMO CEO Darryl White, join the bank’s executive committee and chair its U.S. management committee.
Cox joined BMO in 2010 and has served as U.S. general counsel since 2022. His previous roles include global chief regulatory officer. White called Cox a “highly respected leader” and said his work had contributed to BMO’s growth and its handling of risk and regulation.
Hackett intends to step down as U.S. CEO on Nov. 1 and become executive vice-chair and senior adviser. White credited Hackett with helping advance the bank’s North American growth strategy.
Hackett joined BMO in 2004 and became U.S. CEO in June 2023, after leading BMO Wealth Management U.S. His appointment followed then-U.S. CEO Dave Casper’s announcement that he planned to retire.
BMO’s U.S. Banking segment reported US$620 million in net income for its fiscal third quarter ended July 31, 2026, up US$62 million, or 11%, from a year earlier. Separately, BMO said revenue growth helped its adjusted U.S. Banking net income, while higher expenses offset part of the gain. Cox’s and Hackett’s new roles begin Nov. 1.
