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Kristi Mitchem has been appointed CEO of BMO Global Asset Management, Toronto-based BMO Financial Group said Wednesday.

Mitchem, whose appointment is effective March 18, joins BMO from Wells Fargo, where she was CEO and head of Wells Fargo Asset Management. She has also worked at State Street Corporation, BlackRock and Goldman Sachs.

She will report to Joanna Rotenberg, group head, BMO Wealth Management.

“Kristi brings an excellent track record of transformative leadership,” Rotenberg said in a statement.

“She has a passion for making a difference for clients by solving the most pressing investment challenges they face. Her asset management expertise, creativity, and technological acumen will be a strong catalyst in our next chapter of growth.”

Richard Wilson, who has held the CEO role since 2014, will retire.

“Richard has left an indelible mark on this organization,” Rotenberg said. “He has positioned BMO as a significant global asset manager, with BMO GAM stewarding more than $320 billion in assets under management.”