By April Jennings, Senior Correspondent
The Bank of Montreal (BMO) has appointed veteran banking executive Aron Levine to lead its U.S. personal and business banking, commercial banking, and wealth management divisions. This key leadership move reflects BMO’s growing focus on strengthening its presence in the competitive U.S. financial market, especially following its acquisition of Bank of the West for $16 billion in 2023.
Levine, who spent nearly 32 years at Bank of America, is widely recognized for his innovation and leadership in consumer banking. His career spans decades of transformative growth, where he held various executive positions including Head of Consumer Banking and Investments. Levine is set to begin his new role on July 7, 2025, and will be based in Chicago. He will report directly to BMO’s CEO Darryl White and Darrel Hackett, the U.S. CEO.
The leadership shake-up at BMO doesn’t stop with Levine. The bank also announced the appointments of Tony Sciarrino, a veteran from JPMorgan Chase, as Head of U.S. Commercial Banking, and Kristin Milchanowski, formerly of Ernst & Young, as BMO’s first Chief AI Officer. These additions signal a bold shift in strategy aimed at streamlining operations and improving returns on equity within the U.S. market.
Strategic Shift Post-Acquisition
Following its major acquisition of Bank of the West, BMO has been aggressively pursuing growth in the U.S. financial landscape. The appointment of Levine and his colleagues comes as the bank recalibrates its U.S. operations to drive synergies, elevate customer service, and innovate through technology and data science.
The U.S. now accounts for a significant portion of BMO’s revenue, making it crucial for the bank to invest in leadership that can navigate both regional and national banking demands. Levine’s extensive experience and proven track record in leading large-scale banking transformations make him an ideal candidate to spearhead this effort.
“We are building a best-in-class team to accelerate our U.S. expansion,” said BMO CEO Darryl White. “Aron brings unparalleled expertise in consumer and business banking, and his leadership will be instrumental in achieving our strategic goals.”
Deep Banking Experience
Levine’s three-decade-long tenure at Bank of America saw him lead numerous critical initiatives, including digital transformation strategies and community-focused banking models. He is known for integrating customer-centric technologies and advancing financial inclusion through accessible services.
His vision aligns closely with BMO’s mission to deliver strong, consistent financial performance while maintaining a human-centric approach. In his new role, Levine is expected to deepen BMO’s relationships with small businesses and individual clients alike.
Tony Sciarrino, who will head U.S. Commercial Banking, also brings a wealth of experience. At JPMorgan Chase, he focused on corporate client relationships and commercial lending innovations. His leadership is anticipated to strengthen BMO’s capabilities in serving mid-market and enterprise clients.
Meanwhile, the introduction of a Chief AI Officer marks a significant step in BMO’s digital journey. Kristin Milchanowski, with her deep background in artificial intelligence and data analytics from EY, will lead the bank’s AI strategy, aiming to embed intelligent automation across operations.
Future-Focused Vision
These appointments underscore BMO’s vision of becoming a dominant North American bank with a robust digital backbone and a customer-first ethos. With over 12 million U.S. customers, the bank is striving to blend legacy strengths with innovative solutions to meet modern banking needs.
Levine’s leadership is expected to catalyze this transition. In internal communications, he emphasized the importance of agility, empathy, and strategic foresight. “Our mission is to not only serve, but to empower our customers,” Levine noted. “We must anticipate needs and deliver value in every interaction.”
Chicago, Levine’s new base, is emerging as a key hub for financial innovation, offering BMO proximity to a vibrant talent pool and growing business sector. From this location, Levine will coordinate the integration of acquired operations and the rollout of new initiatives tailored to regional markets.
Industry Implications
The broader banking industry is watching BMO’s leadership changes closely. With evolving customer expectations and regulatory environments, financial institutions are under pressure to adapt quickly. BMO’s focus on blending traditional banking expertise with technological innovation may serve as a model for others.
As BMO enters this new chapter, Levine’s appointment represents both continuity and change. It builds upon a legacy of solid performance while positioning the bank for sustained, innovation-driven growth in the world’s largest banking market.