Office address: 320 South Canal Street, Chicago, IL 60606
Website: bmo.com
Year established: 1984
Company type: banking
Employees: 53,000+
Expertise: consumer banking, corporate banking, private banking, financial analysis, insurance, investment banking, mortgage loans, private equity, wealth management, credit cards
Parent company: Bank of Montreal
Key people: Darrel Hackett (CEO), Aron Levine (president), Michele Havens (division head), Wallace Harris (division president), Dan Phillips (chief investment officer), Carol Schleif (chief market strategist), Marc McKay (national head)
Financing status: corporate-backed or acquired
BMO Bank NA is a top ten North American bank based in Chicago, offering personal, commercial, and wealth services across the US. The bank provides digital banking, investment management, retirement planning, and operates over 1,400 ATMs nationwide. It is known for its strong Midwest presence and $1.4 trillion in assets as of 2025.
BMO’s story began in 1817 in Montreal, Canada, when it became the country’s first bank, originally known as Montreal Bank. Just one year later, it opened an agency in New York, marking its first step into the US. The bank’s early US presence expanded with a Chicago agency in 1861 and later in California through the acquisition of Bank of British North America in 1864.
Chicago’s financial scene changed in 1882 when Norman Wait Harris founded N.W. Harris & Co., a municipal bond broker. This firm grew into Harris Bank, which became a trusted name in the Midwest.
BMO’s acquisition of Harris Bank in 1984 was a turning point, making history as the first time a Canadian bank acquired a US bank. For many years, the combined US operations were known as BMO Harris Bank before adopting the BMO name nationwide.
The bank's US footprint grew steadily after the Harris Bank acquisition. In 2011, it doubled its Midwest presence by acquiring Marshall & Ilsley Bank, a Wisconsin-based institution with roots dating back to 1847. The firm's reach stretched even further in 2023 with the purchase of Bank of the West, based in San Francisco, which brought in 1.8 million new customers.
Today, BMO stands out for its ongoing growth and major leadership changes in the US business. In 2025, the bank brought in Aron Levine, a veteran from Bank of America, to lead a newly combined US operation.
The firm’s US headquarters remains in Chicago, and the firm continues to expand its reach, especially after acquiring Bank of the West in 2023. Its leadership team is focused on boosting performance and serving millions of customers nationwide.
The company offers customized investment options and coordinated guidance so clients can build, preserve, and oversee their wealth:
BMO is also known for digital banking, a strong branch network, and dedicated relationship managers. Clients benefit from a long tradition of stability, cross-border expertise, and a focus on financial progress.
BMO states its culture is about more than profits, focusing on big ideas and meaningful community impact. The company also says it supports growth, encourages new challenges, and aims to “boldly grow the good in business and life.” Their values include:
According to the bank, it fosters a workplace where everyone is free to be themselves and differences are celebrated. To support this, it provides its staff with:
BMO’s “zero barriers to inclusion” strategy aims for equal access and growth for all groups. The company highlights earning the Catalyst Award in 1994 for advancing women. In 2023, they were on the Bloomberg Gender-Equality Index for eight years straight.
Darrel Hackett is CEO of BMO Financial Corp. and BMO Bank NA, leading all US operations. Before this, Hackett was president of BMO Wealth Management US and has held many leadership roles in the firm since 2004. He earned an MBA from Stanford and a bachelor’s degree in mechanical engineering from the University of Tennessee, Knoxville.
Here are the key people leading BMO’s US operations and investment divisions:
These people drive BMO’s investment and wealth strategy in the US. Their expertise supports growth and innovation for clients and the company.
The company released a report in 2025 showing how parents face more financial stress but remain positive about their future. The bank shows that parents who use budgeting, set goals, and work with advisors feel more secure, which supports BMO’s focus on financial planning tools and advice. This research helps the firm understand family needs and shapes services that guide clients toward real financial progress in changing times.
Another BMO study finds that 61 percent of Gen Z parents and 47 percent of Millennials expect to give or receive family help, which affects retirement planning. The bank uses these findings to improve advice and planning services, focusing on legacy and wealth preservation. This helps the firm guide families as they balance caring for children, aging relatives, and their own futures.
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