The wealth management business of BMO, the eighth-largest bank in North America, with $1.4 trillion in assets, has reported some internal movement among its key staff members.
The bank’s CEO, Shannon Kennedy, will be retiring for personal reasons, Kevin Barnes, North American head, private wealth, revealed in a recent LinkedIn posting where he congratulated Kennedy on her decision.
“Shannon has been a tremendous partner while leading our BMO Wealth Management U.S. business after joining BMO in 2019 as global head of BMO Family Office,” wrote Barnes. “Her expertise around our ultra-high-net-worth pillars and energy for serving our clients with excellence as we win the West has been highly impactful for our business.”
Prior to joining BMO, Kennedy was at BNY Mellon Wealth Management for six years, according to her LinkedIn page. Before that, she spent more than 26 years at Northern Trust as director of global family and private investment offices.