BMO promotes Alan Tannenbaum to head capital markets division

Bank of Montreal on Tuesday named Alan Tannenbaum as the new head of the bank's capital market division, to replace outgoing CEO Dan Barclay, who is retiring in November. Tannenbaum joined BMO in 2010 and has held multiple leadership roles, most recently leading global investment and corporate banking, where he worked with corporate, government and financial sponsor clients worldwide. Tannenbaum will be challenged with boosting the bank's capital market business, which accounts for roughly a fifth of its overall profit, at a time that deal and IPO activities have slowed amid market turmoil.