BMO Private Bank has a new president.
The bank's Canadian parent, BMO Financial Group, has named Darrel Hackett leader of the U.S. private bank, BMO announced this week. He replaces Terry Jenkins, who left the organization to pursue other opportunities, according to a company spokesperson.
Hackett will be responsible for BMO Financial Group's personal wealth management businesses throughout the United States as well as the development of new products and services for all business segments within BMO Private Bank, BMO said in the announcement.
Hackett joined BMO in 2004 and served in a variety of retail, commercial and wealth leadership roles. He most recently served as senior vice president and head of North American Integrated Channels.
He also led BMO Harris Bank's business banking operations in the U.S. and served as a regional president for the retail operation in Chicago.
Before joining BMO, Hackett was a management consultant at McKinsey & Co. in Chicago. He also held a variety of management roles at General Electric Co.
"Darrel is an accomplished leader and strategic thinker who has a strong track record of success at BMO Financial Group," Gilles Ouellette, president and CEO of the BMO Financial Group's Private Client Group, said in a statement.