Barclay, who is set to retire after a 32-year long investment banking career, will remain at the firm in the role of senior adviser to the CEO. Both changes will be effective from 1 November.
Tannenbaum, who will also join the bank’s executive committee, lead BMO Capital Markets and provide strategic direction on global markets and investment and corporate banking customer segments. He will report to CEO Darryl White.
“Alan’s appointment represents a strong handoff of a high-performing and high-potential business, which plays a critical role in BMO’s portfolio,” said 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.”
Joining BMO in 2010, Tannenbaum has since held various leadership roles at the firm, including heading up its investment and corporate banking activities and leading BMO’s Global Corporate Finance Solutions group.
He also previously worked as a managing director at Paragon Asset Management and Lehman Brothers.
Tannenbaum will be succeeded in his current role by Brad Chapin who will serve as interim global head, investment and corporate banking.
“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,” added White.
“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 is both sustainable for our planet and for the communities we serve.”
