BMO has named Tim Cox U.S. Country Head of BMO Financial Group and CEO of its U.S. subsidiaries, BMO Financial Corp. and BMO Bank N.A., effective November 1, 2026. The leadership change comes as Darrel Hackett prepares to retire from his U.S. CEO role after more than 22 years with BMO and transition to Executive Vice-Chair and Senior Advisor.
Cox will report to BMO Financial Group CEO Darryl White, join the bank’s Executive Committee, and chair the U.S. Management Committee. He joined BMO in 2010 and has held senior Legal and Regulatory Compliance roles, including Global Chief Regulatory Officer. Since 2022, he has served as U.S. General Counsel.
The appointment gives BMO an internal successor with experience across legal, regulatory, governance, and risk functions as the bank continues building its U.S. franchise. Management highlighted Cox’s role in supporting business expansion while strengthening the regulatory and risk-management foundation needed to operate at a larger scale.
Hackett will remain connected to the organization through his new advisory position, providing continuity after more than two decades at the bank. BMO credited him with advancing its North American growth strategy, deepening relationships across U.S. markets, and making the U.S. platform a larger part of the bank’s operations.
BMO Financial Group reported total assets of approximately $1.5 trillion as of July 31, 2026. The bank serves more than 13 million customers across Canada, the United States, and select international markets through personal and commercial banking, wealth management, global markets, and investment banking businesses.
KEY QUOTES:
“As our U.S. Country Head, Tim’s leadership, deep understanding of our business and commitment to serving our clients, colleagues and communities will be key to the continued success of our U.S. franchise. Tim is a highly respected leader who has helped shape BMO’s growth over the past 15 years, supporting the expansion of our business while strengthening the governance, risk management and regulatory foundation that underpins our success.
Darrel has played a central role in advancing our North American growth strategy and helping build the U.S. business we have today. Darrel is a tireless advocate for our clients, our employees and the communities we serve, and his leadership has strengthened relationships across our markets helping ensure we continue to deliver the insights, advice and capabilities our clients value most.”
Darryl White, Chief Executive Officer Of BMO Financial Group
