A veteran BMO executive, Steve Thom, Head of Global Credit Trading, is retiring amid a broader reorganization within the bank’s capital markets arm. This follows a series of senior appointments and staff reductions, including the departure of managing directors Alena Vinogradova and Nancy Branch. BMO is also realigning its executive team across North America and selling 138 US branches to First-Citizens Bank & Trust Co. The bank reported a strong fiscal year 2025, with net income up 19% to $8.73 billion and capital markets division earnings of $1.45 billion.
While these changes may seem distant, they have the potential to influence lending practices and investment strategies impacting the GTA real estate market. Stay informed about these developments and their potential effects on mortgage rates and financing options. Read the full story on mpamag.com to delve deeper into BMO’s restructuring and its possible implications.
Read the original story here: https://www.mpamag.com/ca/mortgage-industry/industry-trends/veteran-bmo-executive-set-to-retire/560521
