News Releases

NEW YORK and TORONTO, October 21, 2010 - BMO Financial Group's executive vice president and chief economist, Dr. Sherry Cooper, will receive this year's prestigious Lawrence R. Klein Award for economic forecasting accuracy at a reception in New York this evening.  Dr. Cooper and her team correctly pinpointed key indicators at both the beginning of the recession and the beginning of the recovery.

The award, named for Nobel Prize Winner Dr. Lawrence R. Klein, is being presented to Dr. Cooper for having the most accurate economic forecast among the Blue Chip Economic Indicators survey for the years 2006 to 2009. The survey involves a consensus panel of the top forecasters in North America. The resulting Blue Chip newsletter has been published for more than 30 years and is regarded as the "gold standard" of business forecasts.

Paul Volcker, chairman of President Obama's Economic Recovery Advisory Board and former Federal Reserve Board chairman, will present Dr. Cooper with the award.

“This has been among the toughest economies to predict,” said Dr. Cooper. “I am especially proud of this award which I could not have achieved without the support of my incredible team at BMO Financial Group.”

“Congratulations to Sherry and her team for this remarkable achievement," said Bill Downe, President and CEO, BMO Financial Group.  "It's rewarding to see one of our top experts commended for exceptional work.  Sherry has a great ability – not just for forecasting accuracy – but also for communicating complex matters in a way that is straightforward and insightful, making money make sense in every respect."

Cooper leads a highly respected economics team at BMO Financial Group. She has repeatedly been called one of the most influential women in Canada. She is a popular speaker, frequently quoted by the media, and has published three books. She began her career at the Federal Reserve Board in Washington, D.C., and then joined the Federal National Mortgage Association (Fannie Mae) as director of financial economics, prior to work at Burns Fry in Canada.

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News Media Contacts:

Peter Scott, Toronto, PeterE.Scott@bmo.com, (416) 867-3996

Holly Holt, New York, holly.holt@bmo.com, (212) 885-4153