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June 21, 2019

BMO hires new global head of UHNW unit

BMO Family Office, BMO’s recently rebranded arm tending to UHNW customers, has named Shannon Kennedy as its global head.

Kennedy will spearhead the global expansion of the division that has a 200-member team.

She joins from BNY Mellon Wealth Management.

At BNY Mellon, she served as the president of US markets in the Southwest.

Her three-decade long financial career also includes a stint as the director of global family and private investment offices at Northern Trust.

BMO Wealth Management president for US Darrel Hackett said: “Shannon has a reputation as one of the top wealth managers nationwide and we’re delighted to have a leader with such a strong and diverse skillset on board as we introduce and grow our evolved suite of services for ultra-affluent families.

“Our decision to rebrand to BMO Family Office reflects BMO’s commitment to meeting the increasingly complex needs of ultra-high net worth families who expect more than excellent investment advice.”

BMO Family Office offers a range of services including financial, tax and estate planning, capital advisory, investment advisory, as well as family and trust services.

Notably, BMO announced a merger of its private banking arm and its full-service brokerage unit earlier this year.

The combined group will operate as BMO Private Wealth Canada and Asia.

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