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Investment Banker·Specialty Finance

Mike Scolaro

Managing Director, Asset Based Lending at BMO Commercial Finance

Chicago, IL

MS
Why they matter

Built BMO's ABL group from ~30 clients into the nation's 5th-largest ABL lender ($20B+ commitments) and is now retiring — a key read on succession and market color.

Background

Mike Scolaro is Managing Director and Group Head of Asset-Based Lending at BMO Commercial Bank, a post he has held since November 2007 after prior roles at RBS Business Capital, Bank of America Business Capital, Heller Business Credit, and CIT Business Credit. Over that tenure he grew BMO's U.S. ABL platform from a small regional operation with roughly 30 customers into the fifth-largest ABL lender in the country, serving 300+ customers with more than $20 billion in commitments. He holds a BBA in Finance from the University of Notre Dame and an MBA from Northwestern's Kellogg School, and has announced plans to retire from BMO in the coming months.

Notable deals

  • 2024
    Inducted into the SFNet Hall of Fame and named a 2024 SFNet Lifetime Achievement Award recipient for career contributions to the secured finance industry
  • 2026
    Profiled by ABF Journal for transforming BMO's U.S. ABL Group from a ~30-customer regional player into the nation's 5th-largest ABL lender, with 300+ customers and $20B+ in commitments
  • 2019
    Announced BMO Harris Bank's hire of Michael Ganann as Managing Director, Retail Finance to expand national retail-sector ABL coverage
  • 2019
    Expanded BMO Harris Bank's ABL origination platform into the Northeast and Southeast with senior hires Brian Tammaro (Boston) and Scott Sundal (Atlanta)

Call-prep brief

Background

  • Group Head of Asset-Based Lending at BMO Commercial Bank since Nov 2007; 40+ years in ABL, with prior stops at RBS Business Capital, Bank of America Business Capital, Heller Business Credit, and CIT Business Credit.
  • BBA (Notre Dame), MBA in Finance (Kellogg, Northwestern).
  • 2024 SFNet Hall of Fame inductee / Lifetime Achievement Award.

Current Focus

  • Has announced his retirement from BMO "in the coming months" (per ABF Journal, May 2026) — succession at the top of the ABL group is an open, live question.
  • Spent his tenure building out national retail-finance coverage and Northeast/Southeast origination teams via senior lateral hires.

What He Cares About

  • Team-first culture — known for avoiding "I" language and prioritizing internal promotion and mentorship.
  • Cross-selling ancillary services (treasury, payments) into ABL relationships to offset yield compression.
  • BMO's internal referral engine — over 75% of ABL originations come through the bank's broader 46,000-employee franchise.

Recent Moves

  • 2024: SFNet Hall of Fame / Lifetime Achievement Award.
  • Post-Bank of the West acquisition, pushed West Coast ABL expansion.
  • Retirement transition underway as of mid-2026.

Sensitivities

  • He is stepping back from BMO — don't treat him as a long-term decision-maker; confirm his post-retirement plans (advisory, board seats) before pitching anything time-sensitive.
  • Long, publicly celebrated BMO tenure — may be reluctant to critique his own platform or successor.

Questions to Ask

  1. Who is stepping into ABL group leadership at BMO, and how should the market read that transition?
  2. How is BMO's ABL book positioned given the West Coast (Bank of the West) build-out and current credit conditions?
  3. What's next for you post-retirement — advisory work, board seats, or continued involvement in the secured-finance community?

Outreach draft

Subject
Congrats on the SFNet Hall of Fame Honor
Hi Mike, Congratulations on your SFNet Hall of Fame induction and Lifetime Achievement Award — well earned after building BMO's ABL platform into a top-five national lender. As you look toward the next chapter, I wanted to reach out on behalf of [Firm Name]. We work closely with secured-finance and asset-based lending professionals on private credit market insights, and given your depth of experience across cycles, I'd value 20 minutes to hear your perspective on where the ABL market is headed and whether there's a fit to stay in touch. Would you have time for a quick call in the coming weeks? Best, [Your Name]

Sources

Strongest evidencePage title9 public sourcesVerified2026-08-06How the grades work