BMO GAM co-CEO resigns

ResignationBarry McInerney, co-chief executive officer of BMO Global Asset Management, has left the firm to become CEO of BMO’s key regional competitor, Mackenzie Investments.

McInerney had been in the post since May 2014. Gilles Ouellette, the group’s head of wealth management, will assume McInerney’s responsibilities until a permanent successor is found.

In a brief official statement, the firm thanked McInerney for his contributions to BMO.

BMO GAM is currently in the midst of a fundamental realignment, following parent Bank of Montreal’s acquisition of UK asset manager F&C.

McInerney’s departure follows news that BMO GAM was to unite with ETF Securities, Source and WisdomTree Europe to create a forum that would promote the usage of ETFs among UK financial providers. Last month, the firm launched the Global Equity Market Neutral fund.

Overall, BMO manages assets of $230 billion (€202 billion) globally.

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