The North American group, which operates in fields including wealth management, has announced its new chief executive.

Toronto-listed BMO Financial Group – which is marking its 200th anniversary this year – has appointed Darryl White as its new chief executive, taking the helm from Bill Downe.

White previously held the role of chief operating officer, with strategic leadership responsibilities for the lender’s personal, commercial and wealth businesses. Before this, White was group head for BMO Capital Markets.

"BMO has delivered strong performance and steady growth as a result of Bill Downe's incredible leadership these past ten years," White said in a statement yesterday.

The group had total assets of $709 billion as of July 31, 2017, and more than 45,000 employees.