BMO Capital Markets announces new CEO as Dan Barclay retires

The group will have a new leader at the start of next month.

BMO Financial has announced some leadership changes within its Capital Markets and Investment & Corporate Banking groups.

The catalyst is the retirement of long-time CEO and group head of the Capital Markets business, Dan Barclay, who will step down from the role at the end of this month but will transition to senior advisor to the CEO.

Barclay’s investment banking career has spanned 32 years, including two decades with BMO where he began his current role in 2018 following several previous leadership roles. Before joining the Canadian “big six” banking group, he was with Morgan Stanley and Scotiabank.

“Dan’s 32-year track record of client service, ethical leadership, innovation breakthroughs, and the strategic counsel he has contributed to BMO’s senior leadership team have been key to the progress BMO is making for our clients,” said Darryl White, CEO of BMO Financial Group. “Dan has helped position BMO as our clients’ lead partner in the transition to a net zero world and established BMO as a global leader in sustainable finance, while passionately advocating for an energy transition that’s both sustainable for our planet and for the communities we serve.”

NEW LEADER

Barclay’s successor is Alan Tannenbaum, who has been with BMO since 2010 and is currently global head of Investment & Corporate Banking. He previously led BMO’s Global Corporate Finance Solutions group and earlier with his career was with Lehman Brothers, Paragon Asset Management, and James Capel.

“Alan’s appointment represents a strong handoff of a high-performing and high-potential business, which plays a critical role in BMO’s portfolio,” added White. “He is a strategic, innovative, and values-based leader whose focus on helping our clients and the communities we serve make progress has delivered strong results. Alan is well-positioned to capture new growth opportunities for BMO Capital Markets and enable the growth aspirations of our clients across the bank.”