Tony Sciarrino Joins Bank of Montreal as U.S. Commercial Banking Leader

By Nivedita Balu
TORONTO (Reuters)

Bank of Montreal (BMO) is hiring Tony Sciarrino from JPMorgan Chase to lead its U.S. commercial banking business, replacing Ray Whitacre who will retire on January 1.

Sciarrino will begin his role in late March 2025 and will report to Nadim Hirji, head of the commercial banking group, and CEO Darrel Hackett. According to an internal memo viewed by Reuters, he will split his time between BMO's offices in Chicago and Los Angeles, focusing on expanding the lender's commercial banking footprint across the country, especially in the Midwest markets.

Before this appointment, Sciarrino was managing director and segment head for commercial banking clients at JPMorgan Chase, overseeing operations in the Western United States, including states like California, Oregon, and Washington. He previously spent more than 26 years at Bank of America Merrill Lynch, holding various senior roles.

BMO has been rapidly expanding in the U.S. Following its $16 billion acquisition of the San Francisco-based Bank of the West in 2023, the bank has significantly strengthened its retail and commercial banking presence on the West Coast.