- Ranked #19 out of 6,000 publicly traded companies in 2017 Thomson Reuters Diversity & Inclusion Index
TORONTO, Oct. 10, 2017 /CNW/ - BMO Financial Group has been named one of the most diverse and inclusive workplaces in the world. The bank is ranked 19th in the 2017 Thomson Reuters Diversity & Inclusion Index.
The Diversity & Inclusion (D&I) Index and Ratings from Thomson Reuters are based on metrics across four key categories: Diversity; Inclusion; People Development; and News Controversies. According to Thompson Reuters, the top 100 companies that go into the D&I Index are deemed "very likely to be the best in class relative to their industry and country peers."
"Building a culture where people are valued, respected and heard is an important part of what it means to work at BMO, and to bank with us. I'm excited about the progress we've made, but we also recognize our job is not done", said Sonya Kunkel, Head Enterprise Customer Experience. "We are steadfast in our practices and loud in our advocacy to ensure BMO remains a place where we all have a voice, are open to varied perspectives, and learn from each other's differences." Sonya was formerly BMO's Chief Inclusion Officer, and a driving force behind building BMO's strong inclusive culture.
BMO has been a champion of diversity and inclusion for more than 25 years. In 1990, the bank produced a ground-breaking report which acknowledged the existence of a glass ceiling and set out the first steps to shatter it. In 1994, BMO became the first non-U.S. organization (and the first financial institution) to be presented with a Catalyst Award.
In 2012, BMO launched a 5 year Diversity Renewal Initiative which focused on transforming BMO's senior leadership ranks, talent pipeline, and organizational culture through innovative diversity and inclusion strategies.
By the end of 2016, the bank had achieved most of its 2016 diverse workforce representation goals. Of note, 40 per cent of senior leadership roles are held by women and 36.4 per cent of the Board of Directors are women. Also, in 2017, BMO became one of just nine companies globally to receive a Catalyst Award twice.
"Our people are our greatest assets, bringing diversity of thought, background and perspectives that reflect the communities we serve. Our inclusive culture, championed by our people, significantly contributes to why our people and customers choose BMO," said Mona Malone, Chief Talent and Learning Officer.
Building on this success BMO has established its next set of multi-year diversity workforce representation goals (2017-2020), including:
- Accelerating the increase in the representation of Indigenous talent at BMO through innovative approaches to sourcing
- Deepening the senior leadership pipeline of People of Color in the U.S. through stronger promotions and elevated focus on key segments (i.e., African Americans, Latinos)
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 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, Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
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