BMO Capital Markets makes changes at the top

BMO Financial Group has made a number of changes at its capital markets division, BMO Capital Markets, which houses the bank’s equity derivatives and structured products business.

Patrick Cronin, former head of trading products, has been appointed chief operating officer, while Darryl White, the former head of global investment & corporate banking, has been elevated to Group head, BMO Capital Markets.

Both Cronin and White will take on their new roles on November 1, 2014, after the upcoming retirements of Tom Milroy as group head and chief executive officer, BMO Capital Markets, and Eric Tripp, president, BMO Capital Markets.

SRP confirmed that the bank’s structured products will continue to be led by Luke Seabrook, head of financial products and debt products at BMO Capital Markets with Deland Kamanga, remaining second in command as head of investor solutions in Toronto.

In addition, Jerome Cloutier, remains the bank’s Canadian head of sales also in Toronto while Laurence Kaplan, will continue to run sale in the US market as US head of sales in New York.

White will report to Bill Downe, chief executive officer, BMO Financial Group while Cronin, who will be reporting to White, will serve on the board of the Canadian Derivatives Clearing Corporation.

According to SRP data, BMO has marketed 166 structured products year to date. The 77 GICs, 66 Notes and 23 PPNs represent a decrease of 9% in issuance compared with the same period last year.

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BMO Capital Markets makes changes at the top