BMO Financial Group Chief Risk Officer Surjit Rajpal is retiring at the end of January 2019.

Rajpal has held the position since 2011. He will take an advisory role Nov. 1 and help with the transition.

Effective Nov. 1, Pat Cronin will become chief risk officer of BMO Financial Group. He is currently group head of BMO Capital Markets.

Don Barclay will succeed Cronin as group head of BMO Capital Markets. He is currently co-head of global investment and corporate banking. Upon assumption of his new role, Peter Myers will become the sole head, global investment and corporate banking at BMO Capital Markets.

Gilles Ouellette, group head of BMO Asset Management Inc. and vice chair, international of BMO Financial Group, is also retiring in 2019.

Joanna Rotenberg, group head of BMO Wealth Management, will expand her role to also lead global asset management, on top of her existing duties, in 2019.

BMO Financial Group is the marketing name used by Bank of Montreal. And BMO Capital Markets is the capital markets division of Bank of Montreal.