BMO is putting its U.S. General Counsel in charge of its U.S. business. Tim Cox, U.S. General Counsel since 2022, becomes U.S. Country Head of BMO Financial Group and CEO of its U.S. subsidiaries, BMO Financial Corp. and BMO Bank N.A., on November 1, 2026.
Darrel Hackett has shared his intention to retire from his role as U.S. CEO after more than 22 years with BMO. He will move to a role of Executive Vice-Chair and Senior Advisor, also effective November 1.
Cox will report to Darryl White, Chief Executive Officer of BMO Financial Group. He joins the bank’s Executive Committee and will chair the U.S. Management Committee.
He joined BMO in 2010 and has held a number of senior Legal & Regulatory Compliance leadership roles, including Global Chief Regulatory Officer. BMO does not mention any business line role in his career.
“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,” said White. “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,” White said of Hackett.
BMO describes itself as the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of July 31, 2026, and more than 13 million customers across Canada, the United States and in select markets globally.
BMO has not named a new U.S. General Counsel or said what Hackett’s advisory role will involve.
Herald View
BMO has given its U.S. business to the executive White credits with strengthening its governance, risk management and regulatory foundation over 15 years, not to a revenue chief. The message is that BMO wants clean standing with U.S. supervisors as much as it wants growth. Watch who fills the General Counsel seat and whether a commercial banker joins Cox’s top team. Those two calls will show whether Cox is there to tighten controls or to grow the book.
