BMO Financial Group has announced that Chief Financial Officer Tayfun Tuzun will retire in early 2026, with Rahul Nalgirkar set to succeed him as CFO on January 1, 2026. Tuzun, who joined BMO in 2020, guided the bank’s finance, treasury, corporate development, and investor relations functions during a period marked by the acquisition and integration of Bank of the West and the expansion of BMO’s North American footprint. He also oversaw capital, liquidity, and funding strategy, positioning BMO among the continent’s largest banks. Tuzun will remain on the board of directors of BMO’s U.S. subsidiary following his retirement.
To ensure a smooth transition, Rahul Nalgirkar will assume the role of Deputy CFO before becoming Chief Financial Officer on January 1, 2026, and joining the bank’s Executive Committee. Nalgirkar, who joined BMO in 2022, previously served as CFO of BMO U.S. and its commercial banking businesses across Canada and the U.S. His career includes leadership positions at Fifth Third Bank, GE Capital, Citigroup, and CIT.
