BMO Wealth Management has hired a veteran wealth management executive from BNY Mellon Wealth Management to lead BMO Family Office, BMO says.
Shannon Kennedy has been named global head of the family office, which the firm re-branded from its ultra high net worth division, according to a press release from BMO.
She will lead a team of more than 200 people, the company says.
Kennedy has been in the wealth management industry for three decades, most recently serving as president of U.S. Markets-Southwest at BNY Mellon, BMO says. Prior to BNY Mellon, Kennedy served as director of global family and private investment offices at Northern Trust in Chicago, according to the press release.
“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," Darrel Hackett, president of BMO Wealth Management U.S., says in the press release."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."
As of the end of April, BMO Wealth Management oversaw $47 billion in assets under management and $74 billion in assets under administration from more than 140 offices across 16 states and international offices in Canada, Hong Kong and Singapore, the company says.