BMO Private Bank announced that Dan Barron is the new Managing Director, BMO Private Bank, Rockford, and that Kathy Weber has been appointed to a new Managing Director role for BMO Private Bank in Chicago, where she will lead a team of wealth advisors, private bankers and portfolio managers.

Ellen Costello, President and Chief Executive Officer of BMO Financial Corp. and U.S. Country Head of BMO Financial Group has announced her intention to retire from the company. She will be succeeded by Chris Begy, currently BMO Financial Group's Chief Auditor. Chris Begy will take on his new position as U.S. Country Head on August 1, 2013, assuming Ellen Costello's current accountabilities. An announcement regarding Chris' successor will be made shortly. Ms. Costello joined BMO in 1983. Mr. Begy has led BMO's Corporate Audit function since 2001.

BMO Financial Group reported unaudited consolidated earnings results for the second quarter and six months ended April 30, 2013. For the quarter, the company reported net interest income of CAD 2,098 million compared to CAD 2,120 million a year ago. Revenue was CAD 3,944 million compared to CAD 3,959 million a year ago. Net income attributable to bank shareholders was CAD 957 million compared to CAD 1,010 million a year ago. Diluted earnings per share were CAD 1.42 compared to CAD 1.51 a year ago. Book value per share was CAD 41.73 compared to CAD 38.06 a year ago. Return on equity was 14.2% compared to 16.2% a year ago. Return on average assets was 0.71% compared to 0.76% a year ago. Adjusted net interest income was CAD 1,923 million compared to CAD 1,969 million a year ago. Adjusted net income attributable to bank shareholders was CAD 979 million compared to CAD 964 million a year ago. Adjusted earnings per share were CAD 1.46 compared to CAD 1.44 a year ago. Adjusted return on equity was 14.5% compared to 15.4% a year ago. Adjusted revenue was CAD 3,759 million against CAD 3,727 million a year ago. Adjusted revenue was up 1% year-over-year and down 3% from the first quarter, largely due to fewer days and lower capital markets revenue. Adjusted net interest income was lower due to fewer days in the quarter and quarter-over-quarter as volume growth was offset by lower margins. Income before provision for income taxes was CAD 1,231 million against CAD 1,265 million for the same period last year. Net cash provided by operating activities was CAD 2,598 million against cash used in operating activities of CAD 3,311 million of prior year period. Premises and equipment-net purchases were CAD 47 million against CAD 110 million of prior year period. For the six months, the company reported net income attributable to bank shareholders of CAD 1,987 million or CAD 2.95 diluted earnings per share on total revenue of CAD 8,025 million compared to net income attributable to bank shareholders of CAD 2,100 million or CAD 3.14 diluted earnings per share on total revenue of CAD 8,076 million for the corresponding period last year. Income before provision for income taxes was CAD 2,544 million against CAD 2,687 million for the same period last year. Net interest income was CAD 4,314 million against CAD 4,438 million of prior year period. Net cash provided by operating activities was CAD 13,254 million against CAD 20,729 million of prior year period. Premises and equipment-net purchases were CAD 185 million against CAD 155 million of prior year period. Adjusted net income was CAD 2,038 million up 4% or CAD 2.97 per share. Return on equity was 14.6% compared with 16.7%. Adjusted return on equity was 14.7% versus 15.2% of prior year period. Return on average assets was 0.72% against 0.78% of prior year period.

Bank of Montreal announced that the Board of Directors declared a quarterly dividend of $0.74 per share on paid-up common shares of Bank of Montreal for the third quarter of fiscal year 2013, unchanged from the previous quarter. The dividend on the common shares is payable on August 27, 2013, to shareholders of record on August 1, 2013. The Board of Directors also declared dividends of $0.28125 a share on paid-up Class B Preferred Shares Series 13; $0.328125 a share on paid-up Class B Preferred Shares Series 14; $0.3625 a share on paid-up Class B Preferred Shares Series 15; $0.325 a share on paid-up Class B Preferred Shares Series 16; $0.40625 a share on paid-up Class B Preferred Shares Series 18; $0.40625 a share on paid-up Class B Preferred Shares Series 21; $0.3375 a share on paid-up Class B Preferred Shares Series 23; and $0.24375 a share on paid-up Class B Preferred Shares Series 25. The dividends on the preferred shares are payable on August 26, 2013, to shareholders of record on August 1, 2013.

Bank of Montreal has announced that Ambassador David Jacobson, who currently serves as United States Ambassador to Canada, will join the bank as Vice-Chair in 2013 October. Prior to his swearing in as Ambassador, he served as Special Assistant to the President for Presidential Personnel.