BMO Financial has announced the appointment of David Descoteaux as the head of its U.S. mergers and acquisitions (M&A) team for capital markets and commercial banking. This decision concludes a months-long search to fill the role as the Canadian bank integrates its teams.

Leadership and Structure

Starting June 1, Descoteaux will report to Carrie Cook, the global head of investment and corporate banking, and Tony Sciarrino, the head of U.S. commercial banking at BMO. Under this new leadership structure, Cameron Hewes, who leads the middle market M&A team, will report to Descoteaux. Hewes will also collaborate closely with Sarfraz Visram, the head of Canadian M&A, to enhance cross-border and North American deals.

Experience and Expertise

Descoteaux joins BMO from UBS, where he spent nine years managing deals across North and South America in sectors such as technology, media, telecom, and fintech. His experience includes a significant focus on transactions involving private equity sponsors, which accounted for 70% of his deals at UBS. Prior to UBS, Descoteaux spent 14 years at Lazard, further solidifying his expertise in the field.

Market Context

The capital market segment has been particularly beneficial for Canadian banks in recent quarters. As loan growth has slowed due to tariff-related uncertainties, banks have benefited from strong fee and advisory income, with M&A activity seeing a significant rebound in 2025 and continuing into this year.

BMO declined to comment on the appointment.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.