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BMO is making strategic changes to its capital markets arm.The Globe and Mail

Two U.S.-based former employees with Bank of Montreal's capital markets arm have joined KeyBanc Capital Markets, the corporate and investment banking arm of KeyCorp.

Mike Jones has joined KeyBanc's mergers and acquisitions group as a managing director, leading the bank's consumer and retail M&A efforts out of Charlotte, N.C. Previously, Mr. Jones was a managing director at BMO Capital Markets in Chicago, where he worked in the bank's consumer, food and retail practice.

Paul Griffin, also from BMO previously, has joined KeyBanc as a managing director of its financial sponsors investment banking group, responsible for leveraged finance and M&A activity with technology-focused private equity and venture capital firms. He is based in Boston. At BMO, he was a managing director at its technology investment banking group.

Andrew Vollmer, head of KeyBanc's consumer and retail, mergers and acquisitions and financial sponsors groups said in a release: "We've deepened our expertise and broadened our coverage universe."

The hires follow reports in April that the bank had made some changes to its capital markets arm, cutting about 50 jobs globally. They also follow moves at the top, when Darryl White took over as the group's chief executive, announcing changes to "resource deployment" soon after. Mr. Griffin and Mr. Jones were not among those at BMO who were let go.

Editor's note: A version of this story published online previously stated that Mike Jones and Paul Griffin jumped from Bank of Montreal to KeyBanc Capital Markets, and that their hirings followed the restructuring in BMO's capital markets arm. Mr. Jones and Mr. Griffin left BMO in 2014, before the restructuring.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:15pm EDT.

SymbolName% changeLast
BMO-N
Bank of Montreal
+1.35%97.68
BMO-T
Bank of Montreal
+1.13%132.25
KEY-N
Keycorp
+1.09%15.81

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