TORONTO, October 18, 2021— BMO Financial Group (TSX:BMO) (NYSE:BMO) announced that, effective today, Clio Straram has joined the bank as its new Head, Indigenous Banking Unit (IBU). She reports to Mike Bonner, Head, Canadian Business Banking, BMO Financial Group; she succeeds longtime Head of IBU Stephen Fay, who retires November 1.
“Indigenous Banking is more than a business at BMO. Since 1992 our IBU has built a strong presence in the market with deep roots in the communities that we serve and much of the credit for that goes to Stephen Fay, the former Head of BMO’s Indigenous Banking Unit who retires in November,” said Mike Bonner, Head, Canadian Business Banking, BMO Financial Group. “Under Clio Straram’s leadership, we will build on our strengths and deepen customer relationships by accelerating our long-term Indigenous Banking strategy and roadmap. Clio brings to BMO a unique and exceptional skillset; we are excited to see her hit the ground running to get to know our customers and communities so that we can expand existing relationships and build new connections.”
"I’m excited to join BMO, a purpose-driven company with a long history of working with and serving Indigenous communities across Canada,” said Ms. Straram. “The team at BMO’s well-established Indigenous Banking Unit is widely considered to be among the best of the best in Indigenous banking and I’m looking forward to working with each of them to continue to build on that well-deserved reputation.”
Prior to joining BMO, Ms. Straram held roles at another financial institution, including in Indigenous Banking where she was responsible for the regions of Manitoba, Ontario, Quebec and Atlantic and established a track record that includes managing on-reserve financing of infrastructure projects and First Nations-owned economic development corporations. Previously, she worked at BMO in a number of progressive roles, one of which was Manager, Business Development in the IBU.
Ms. Straram is a member of Fond du Lac First Nation in Saskatchewan, with an MBA from Simon Fraser University and a Masters in Finance from London Business School. She is active in the community, currently serves on the Boards of Directors at Metrolinx and Anishnawbe Health Toronto, and is passionate about making an impact in the areas of housing and infrastructure.
BMO has long served Indigenous communities across Canada through its Indigenous Banking Unit. Through its network of branches and business banking offices, both on and off reserve, the bank offers financial education programs for Indigenous young people and elders and accessible financial products and services, including housing and renovation financing, trust services, investment management solutions and long-term financing for on-reserve infrastructure and economic development.
For more information about how BMO works with Indigenous communities in Canada, click here to view our annual Indigenous Partnerships and Progress Report.
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 $971 billion as of July 31, 2021, 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.
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