Fred Lum/The Globe and Mail
Bank of Montreal is shuffling leadership of its U.S. investment banking teams, hiring a banker from Jefferies & Co. to co-head the industrials group.
BMO added Sean Sullivan as co-head of U.S. industrials, based out of New York and Chicago. Mr. Sullivan will eventually take over as sole head of the industrials team, replacing Scott Humphrey, who is switching to a U.S. investment and corporate banking role.
Mr. Sullivan joins BMO after leading the North American industrials team at Jefferies for more than a decade. Before Jefferies, he worked at Bank of America and J.P. Morgan and served as a captain in the U.S. Marine Corps. Mr. Sullivan holds an MBA from the Wharton School and an M.A. in international relations from Johns Hopkins University.
Mr. Humphrey will become senior adviser for U.S. investment and corporate banking, after running the industrials group for two years, and leading the U.S. mergers and acquisitions team previously. The new gig will allow Mr. Humphrey to "leverage his considerable experience…across all our coverage and product groups," said a spokesperson from BMO.
BMO has made a number of recent changes to its U.S. investment banking unit, adding a paper analyst from Deutsche Bank in June, and hiring Lyle Wilpon from Houlihan Lokey and Bank of America, to head its U.S. M&A business in February.