BMO Financial Group banks on the CIRM to boost Montrealers' capacity for collective innovation
Nov 17, 2017, 09:30 ET
- BMO announces $2.25 million contribution to the Centre for Interdisciplinary Research on Montreal
MONTREAL, Nov. 17, 2017 /CNW/ - L. Jacques Ménard, President, BMO Financial Group, Québec, and one of the key initiators of Je fais MTL, marked the movement's third anniversary celebrations by announcing a major financial contribution by BMO to the Centre for Interdisciplinary Research on Montreal (CIRM), a Je fais MTL project.
"I am especially pleased and proud to announce this morning that BMO Financial Group will contribute $2.25 million to the CIRM over the next ten years. This contribution will be used to step up the work of the researchers who are dedicating their lives to exploring and documenting the spirit and DNA of Montreal. We wanted to be certain that the fruits of their work would be widely disseminated because we want the CIRM to help expand and extend the initiatives of Montrealers, more and more of whom are mobilizing to bolster the momentum of our city," explained Mr. Ménard.
With the help of this donation, BMO expects the knowledge amassed and produced by the CIRM to increase Montrealers' capacity for collective innovation and entrench social change movements such as Je fais MTL – a movement that makes urban and social innovation the focus of its actions. "Today, I am convinced that the future of cities depends on fostering more bottom-up initiatives, which take their source and inspiration from the community itself and which have the power to transform the city, one idea at a time," Mr. Ménard concluded, adding he is very pleased with the report presented by Je fais MTL after its first three years and its announcement of a new three-year action cycle.
BMO Financial Group has always placed a great deal of importance on research to fuel the reflections of decision-makers and guide their actions. In February 2014, Mr. Ménard unveiled the results of a study conducted by the Boston Consulting Group to identify the measures that allowed seven cities similar to Montreal to regain prosperity after a slump. The study, commissioned by BMO, revealed that sharing the leadership with civil society had been key to the recovery of all seven cities – a conclusion that led Mr. Ménard to propose and oversee the Je vois MTL meeting at Place des Arts on November 17, 2014.
"The movement has lost none of its enthusiasm and promises to become broader and more potent in the coming years, thanks to the drive of the Je fais MTL community and the depth of the CIRM's research, which will benefit everyone with a stake in the transformation of our city," declared Mr. Ménard.
About BMO Financial Group
Established in 1817, and currently marking its 200th year of operations, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $709 billion as of July 31, 2017, and more than 45,000 employees, BMO provides a broad range of personal and business 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, Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
For further information: Media inquiries : Valérie Doucet, Montréal, [email protected], 514-877-8224; Internet : www.bmo.com, Twitter : @BMOMedia
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