BMO Financial names wealth management chief

BMO Financial Group in Toronto has appointed a new group head of wealth management, whose…

BMO Financial Group in Toronto has appointed a new group head of wealth management, whose responsibilities include oversight of the company’s U.S. wealth management operation.

Deland Kamanga, currently the company’s head of global markets, will begin his new job Nov. 1, BMO announced Friday.

In addition to the U.S. segment, Kamanga will lead BMO Private Wealth Canada, which serves high-net-worth individuals and families, as well as global asset management, insurance and the company’s online trading platform, InvestorLine.

BMO Financial appointed Deland Kamanga as group head of wealth management, succeeding Joanna Rotenberg, who is joining Fidelity Investments.

Bloomberg

BMO’s U.S. wealth management unit is part of BMO Harris Bank, the company’s U.S. subsidiary. The bank is based in Chicago and held nearly $160 billion of assets at June 30.

Kamanga, who has worked for BMO Capital Markets since 2006, will join the Çanadian company’s executive committee and report to BMO Financial CEO Darryl White. Kamanga will be based in Toronto and manage a unit that has $795 billion of assets under management.

He will succeed Joanna Rotenberg, who is leaving BMO Financial to join Fidelity Investments as head of its personal investing division, according to a Fidelity press release.

BMO announced three other appointments Friday. Dan Goldman and Levent Kahraman will take over for Kamanga as co-heads of the capital markets division. Both executives joined the company in 2018 when it acquired KGS-Alpha, a fixed income broker-dealer they founded.

In their new roles, Goldman and Kahraman will report to Dan Barclay, CEO and group head of BMO Capital Markets.

Meanwhile, Sharon Haward-Laird, BMO Financial’s general counsel, will become the executive committee sponsor for sustainability, the BMO for Women program and digital currency.