Following the retirement of Shannon Kennedy, BMO has named Michele Havens to succeed her as the head of BMO Wealth Management for the Chicago-based wealth management firm.

Havens, who most recently was the president of Northern Trust’s West Region, will lead the firm from her Los Angeles post.

Havens knows she has big shoes to fill, saying she is “committed to building upon the strong foundation and continuing the excellent work underway” at BMO in a recent LinkedIn post.

“Thank you, Shannon Kennedy, for the legacy you have created. You have undoubtedly shaped the wealth and family office segments and the broader BMO U.S. organization in significant ways,” Havens wrote.

After being at Northern Trust for 24 years, Havens expressed her gratitude for the wealth management firm, also based in Chicago.

Highlighting BMO’s motto to “boldly grow the good in business and life,” Havens said she is excited to be a part of BMO and work toward creating a “future-ready bank” powered by technology and “a winning culture.”

Kevin Barnes, North American head of Private Wealth at BMO, spoke highly of Havens in a recent LinkedIn post.

“She is a dynamic leader known for successfully executing strategic initiatives and delivering high growth outcomes. Throughout her career, Michele has elevated the long-term operating performance of her teams by focusing on talent development, effective collaboration, with a passionate drive for excellence.”

Kennedy will remain active in her roles as a member of the University of California, Irvine’s CEO Executive Roundtable and CEO Women’s Roundtable as well as a trustee at The Field Museum in Chicago. Her retirement will give her more time to care for her aging family members, Barnes said.

“Shannon has been a tremendous partner… Her expertise around our ultra-high net worth pillars, and energy for serving our clients with excellence as we win the West, has been highly impactful for our business,” Barnes said.