Carol Buch, 54, a managing director at BMO Capital Markets who for more than two decades specialized in leveraged finance at the Bank of Montreal unit and other lenders, has died after a long illness.

She died Saturday, according to a notice in the Austin American-Statesman in Austin, Texas, where Ms. Buch was based.

Ms. Buch was a senior partner in BMO's global fixed income, currencies, and commodities leveraged finance sales team. She joined the firm in 2001 as a vice president and "was a key contributor to building our leveraged finance distribution business," management said in the note.

Prior to BMO, Ms. Buch worked for a year at New York-based Lehman Bros. Holdings Inc. From 1992 to 2000, she worked in New York as a director in loan syndications at TD Securities.