BMO Investments makes changes to its mutual fund lineup

Toronto-based Bank of Montreal has named Andrew Auerbach as the new head of BMO Nesbitt Burns Inc.

Auerbach, who has been head of sales and distribution for Canadian personal and business banking at BMO since 2015, will step into his new role on Feb. 1.

“Nesbitt Burns is an important business for BMO,” says Joanna Rotenberg, group head of BMO’s wealth-management division, in a statement emailed to Investment Executive. “We have ambitious goals in the wealth market, where the landscape continues to evolve. Andrew’s experience in wealth and across BMO, his market knowledge, and his relationships coast-to-coast, will be a terrific addition to Nesbitt Burns and our wealth business overall.”

Auerbach led the transformation of the bank’s distribution network including new branch formats and technology capabilities.

Auerbach steps into his new role following the departure of Charyl Galpin last year. Galpin had led the brokerage since 2011 first as co-head and then as head in 2014. Galpin has been chief regulatory officer for BMO Wealth Managements since August 2017.

Read: Charyl Galpin appointed as IIAC’s first chairwoman

Auerbach is a chartered financial analyst.

With files from Sophie Allen-Barron