- BMO is the only bank in Canada to be recognized since the award's inception in 2007
TORONTO and CHICAGO, March 13, 2023 /CNW/ - BMO has been recognized as one of the World's Most Ethical Companies for the sixth consecutive year by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
BMO is one of four banks worldwide, three banks in the U.S., and the only bank in Canada to be recognized in 2023. BMO is also the only bank in Canada to be recognized with this award since its inception in 2007. The award exemplifies the bank's commitment to doing what's right and operating with transparency, good governance, and integrity in support of a thriving economy, sustainable future, and inclusive society.
"Ethics matters. Organizations that commit to business integrity through robust programs and practices not only elevate standards and expectations for all, but also have better long-term performance," said Ethisphere CEO, Erica Salmon Byrne. "We continue to be inspired by the World's Most Ethical Companies honorees and their dedication to making real impact for their stakeholders and displaying exemplary values-based leadership. Congratulations to BMO for earning a place in the World's Most Ethical Companies community."
This annual recognition honours companies who have best in class ethics, compliance and governance practices and advance an environment that is defined by integrity. It is an affirmation of the leadership of companies contributing to the greater good. This award highlights the ongoing importance of culture and a shift in the purpose of corporations showcasing the importance of exceptional leadership, sustainability, and business integrity.
"BMO's reputation as one the world's most ethical companies is built on our strong foundation of client service culture and our track record of responsible risk management," said Darryl White, Chief Executive Officer, BMO Financial Group. "How we achieve our goals is critically important. Our long-established ethical business practices translate into enduring relationships and strong financial performance that enable us to deliver progress for our clients, communities and the planet. BMO is honoured to be recognized for a sixth consecutive year."
For more information on BMO's commitments to building social good, please read its Sustainability Reporting Suite.
Methodology & Scoring
Grounded in Ethisphere's proprietary Ethics Quotient®, the World's Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.
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 $1.15 trillion as of January 31, 2023, 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 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Ethisphere is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset focused on ethical culture and featuring the responses of 2+ million employees around the world; and the Ethics Quotient dataset, featuring 200+ data points highlighting the ethics, compliance, social, and governance practices of the World's Most Ethical Companies. For more information, visit https://ethisphere.com.
SOURCE BMO Financial Group