News Releases
- BMO ranked in top 25 in Thomson Reuters Global Diversity & Inclusion Index; Only Canadian bank in the top 25
TORONTO, Sept. 6, 2018 /CNW/ - For the second year in a row, BMO Financial Group has been named one of the most diverse and inclusive workplaces. BMO is the only Canadian bank ranked amongst the top 25 companies on the 2018 Thomson Reuters Global Diversity & Inclusion Index.
The Global Diversity & Inclusion (D&I) Index from Thomson Reuters is based on metrics across four key categories: Diversity; Inclusion; People Development; and News Controversies. According to Thompson Reuters, the top 100 companies that are named to the D&I Index are deemed "very likely to be the best in class relative to their industry and country peers."
"An inclusive culture is a top priority at BMO. We are dedicated to fostering a workplace that supports our diverse teams and enables individuals to bring their 'whole selves' to work," said Rajini Nagendran, Chief Inclusion Officer, BMO Financial Group. "We're proud of our progress and remain unwavering in our commitment creating an inclusive environment for our people, our customers and our communities."
In 2012, BMO launched a five year Diversity Renewal Initiative which focused on transforming its talent pipeline, and organizational culture through innovative diversity and inclusion strategies. In putting diversity and inclusion at the centre of every leadership discussion, BMO has reached a majority of its diverse workforce representation goals for 2018. Key highlights include:
- 40 percent of senior leadership roles are held by women
- 25 percent of senior roles are held by Minorities or Persons of Colour
- Bloomberg recognized BMO as one of the top ranked Financial Institutions for gender equality
- BMO was recognized as one of the best places to work for LGBTQ Employees by The Human Rights Campaign Foundation
- BMO's employees rated the bank's commitment to inclusion in the highest category as a leading company
BMO is one of just nine companies globally to receive a Catalyst Award twice and, in 2018, two senior leaders were named Catalyst Canada Honours Champions – BMO was the sole Canadian financial institution recognized.
Building on this success, in 2017 BMO established its set of diversity workforce representation goals to be reached by 2020, which include:
- Accelerating the increase in the representation of Indigenous talent at BMO through innovative approaches to sourcing and retention
- Deepening the senior leadership pipeline of People of Colour in the U.S. through stronger development and advancement of key segments such as African Americans and Latino.
BMO's commitment to diversity goes beyond the organization. In addition to BMO supporting its female employees, BMO is supporting female entrepreneurs by making $3 billion in capital available over the next three years. Helping Canadian businesses owned by women will create new jobs and strengthen communities.
As well, for the past 26 years, BMO has committed to building a market leading position in Indigenous banking in Canada. Today, BMO manages over $4 billion in deposits, loans and investments for over 250 Indigenous communities across Canada.
"Our people are our greatest asset and having a diverse workforce energizes the organization by bringing new ideas and perspectives to the table. We believe a diverse bank with a strong inclusive culture produces better long term results," said Mona Malone, Chief Talent Officer, BMO Financial Group.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $765 billion as of July 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
