BMO Harris Bank announced the promotion of John Petrovski to Managing Director and Head of Commercial Real Estate Lending. Previously, he was the Bank’s Chief Operating Officer for Commercial Real Estate. In his new role, Petrovski will oversee a team of 120 people which aims to boost new loan origination by 20 percent over the next year.
During the period of local real estate recovery, BMO has been an active financier, serving as a lead lender for the New City apartment-retail development on the North Side. BMO also joined other banks in financing the construction of a South Loop shopping center, and the redevelopment of the Lakeshore Athletic Club into luxury apartments. As the new chief, Petrovski must compete to find deals during the “middle innings” of the real estate cycle in the Chicago area and other markets where BMO is active. Petrovski said, “Generally, coming out of the downturn, there’s pent-up demand for prudent new supply — pre-leased office, pre-leased retail, some new apartments.” He added that he is looking forward to continue to do more of that.
Prior to joining the commercial real estate industry, Petrovski took several legal and executive roles with Katten Muchin Rosenman LLP, Katten Muchin Rosenman LLP, and Merrill Lynch Capital. A Chicago native, Petrovski earned his bachelor’s of science degree in chemical engineering from the University of Illinois at Urbana-Champaign. After graduating from college, he spent two years as a researcher at Amoco Oil Research in Naperville. He then went back to school and studied law at the University of Michigan.
About BMO Harris Bank
Established in 1882 as Harris Bank, and owned by BMO Financial Group since 1984, BMO Harris Bank has grown to become one of the largest banks in the Midwest serving personal, commercial and affluent customers. BMO Harris Bank provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs. To know more, visit the website: www.bmoharris.com.