BMO Capital Markets said it is creating a new role to centralize balance sheet and risk management across all of its lines of business.
Eric Tripp, president of BMO Capital Markets, will focus on this area, which includes oversight of capital, liquidity and exposures in both the investment and corporate banking and trading products businesses.
Tripp will continue in his role as president and deputy head of BMO Capital Markets. He reports to Tom Milroy, CEO of BMO Capital Markets. He will also continue to have responsibility for the BMO Capital Markets operations in Europe and Asia, as well as the New York and Chicago offices.
Patrick Cronin has been appointed head of trading products, where he will have responsibility for all trading-related lines of business including debt products, equity products and research, financial products, foreign exchange products, investor products and credit investment management, securitization and asset portfolio management.
Since 2008,Cronin has been head of both the financial products and debt products groups, overseeing cross asset derivatives trading and origination, structured products, structured finance, commodities and fixed income.