Dan Barclay, CEO and group head of capital markets for BMO Financial Group, will retire on Nov. 1 and transition to a role as senior advisor to the CEO. BMO selected Alan Tannenbaum to succeed Barclay and to join the bank’s executive committee.
Tannenbaum will lead BMO Capital Markets and provide strategic direction on global markets and investment and corporate banking customer segments. He will report to Darryl White, CEO of BMO Financial Group. Tannenbaum will be succeeded in his current role by Brad Chapin, who will serve as interim global head of investment and corporate banking.
Since joining BMO in 2010, Tannenbaum has held multiple leadership roles at the bank, including having responsibility for BMO’s investment and corporate banking activities with corporate, government and financial sponsor clients worldwide, encompassing equity and debt underwriting, leveraged finance, corporate lending and project financing, mergers and acquisitions advisory services, and global trade and banking. He has also led BMO’s global corporate finance solutions group, with accountability for all capital raising activities and associated risk across equity and fixed income. In addition to his most recent contributions to BMO’s investment and corporate banking business, Tannenbaum has experience serving clients in global markets roles.
“Alan’s appointment represents a strong handoff of a high-performing and high-potential business which plays a critical role in BMO’s portfolio,” White said. “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.”
“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. 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,” White said. “His commitment to our clients, employees, and society’s most vulnerable – including as board chair of the Children’s Aid Foundation of Canada – has exemplified BMO’s purpose, to boldly grow the good in business and life.”
