BMO names a single global head for international capital markets as Canada courts overseas investors
Bank of Montreal (BMO) is consolidating its international capital markets business under a single leader, appointing Richard Couzens to an expanded role overseeing all capital markets operations outside North America, effective November 1. Couzens is currently the bank's head of Europe, Middle East and Africa (EMEA).
The reorganisation was outlined in a memo from Alan Tannenbaum, the chief executive officer of BMO Capital Markets in Toronto.
The change also signals a leadership transition in Asia. Chris Taves, who joined BMO in 2009 and was appointed head of Asia for BMO Capital Markets in January 2024, will step down on January 31, 2027.
Taves will work alongside Couzens during the first quarter of 2027 to support the Asia team, which will continue to be anchored by Glenn Anson, Asia head of global markets, and Lisa Xia, who leads China operations.
"Our international businesses remain a strategic priority as we continue to expand our global capabilities and deepen client relationships across regions," Tannenbaum said in the memo, as reported by Reuters.
One leader to speed up cross-border decisions
Cross-border clients often need a single institution to commit balance sheet capacity — the lending limits and risk thresholds that determine how much a bank can support a given transaction — across time zones simultaneously.
A unified decision-maker can accelerate approvals and sharpen BMO's competitive position when pursuing international mandates.
For mortgage professionals and commercial real estate lenders who rely on BMO's institutional debt and securitisation capabilities, faster cross-border decision-making can affect the scale and speed of financing available for large property transactions.
Global ambitions amid Canada-US trade tensions
The move aligns with a broader push by Canadian banks to diversify internationally as trade tensions with the United States reshape the domestic economic outlook.
Prime Minister Mark Carney's overseas trade missions and business-friendly policy signals have reinforced investor confidence in Canadian institutions operating abroad, and lenders are deepening their global footprints accordingly.
BMO has been at the forefront of that globalisation effort. Its fiscal 2025 capital markets revenue reached approximately CA$7.25 billion, up from CA$6.15 billion in fiscal 2024.
The bank ranked first in mergers and acquisitions advisory in Canadian investment banking and second in equity capital markets league tables during the year, according to its earnings disclosures.
Founded in Montréal in 1817, BMO Financial Group is Canada's eighth-largest bank by assets. Its net income climbed to $2.63 billion for the quarter ended April 30, up from $1.96 billion a year ago. That's a gain of more than 30% that surpassed what analysts had pencilled in.
The bank serves approximately 13 million customers across North America and select global markets through its three core operating groups: personal and commercial banking, wealth management, and capital markets.
BMO employs approximately 53,234 people worldwide and operates through subsidiaries including BMO Capital Markets, BMO Nesbitt Burns in Canada, and BMO Bank N.A. in the United States.
Its capital markets arm offers equity and debt underwriting, mergers and acquisitions advisory, loan syndication, trading, and risk management services.
The reorganisation does not eliminate an existing role. Couzens retains his EMEA mandate while taking on the broader international remit. Taves will remain active through January 2027, ensuring continuity for BMO's Asia-based clients during the handover.
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