Our relationship with money is changing

Ideas are a new global currency. But it’s important to remind ourselves that those ideas come from people. In the end, people, not companies, create world-changing breakthroughs. And it’s human vision that gives ideas their power.

Image of Doug Bourque

“At BMO we insist on respect for all, nurture talent and celebrate performance. That’s why we’re regularly one of Canada’s top employers.”

Doug Bourque
Director, Aboriginal Banking, B.C. & Yukon, BMO Bank of Montreal
Victoria, British Columbia

As this knowledge economy matures, we’re less inclined to applaud innovation for its own sake. Faced with consumer trends that seem to change as often as the weather, we’re becoming more thoughtful about what really matters. Our focus is shifting from having the latest to getting the best – smart products and services created by people who’ve paid attention and anticipated our needs.

What differentiates today’s successful companies is the ability to address our expectations and aspirations by thinking beyond the obvious. And what will keep such businesses sustainable in an increasingly competitive world is the quality of their people.

Recruiting top talent has long been a priority for the entrepreneurial businesses that are catalysts of economic growth. The ability to attract, develop and retain the best people has become a strategic imperative for companies worldwide. Industry leaders engage skilled, imaginative people in designing products that resonate, in devising better models of service – in focusing their collective energy on creating more meaningful interactions with customers.

And diversity is no longer just a noble goal – it’s the key to success. Having the best people means finding the sharpest minds in a global talent pool. Successful organizations become more relevant by welcoming the varied perspectives and cultural nuances of vibrant, emerging markets across town and around the planet.

What drives the knowledge economy is the same fuel that keeps today’s smart companies alert, creative and connected: vision. And that vision is conceived by people. It’s about confidently embracing a world that’s changed – and that will change even more tomorrow.

Right on the Money

Sherry Cooper, Chief Economist, BMO Financial Group, and her highly respected Economics team correctly identified key indicators at the start of both the recent recession and the recovery. For those impressive predictions, Dr. Cooper received the prestigious Lawrence R. Klein Award for accuracy in economic forecasting in 2010. Other BMO recognitions include:

  • Best Foreign Exchange Bank in North America, European CEO magazine
  • Best Trade Bank in Canada, Trade Finance magazine
  • World’s Best Metals and Mining Bank, Global Finance magazine
30%

Employees who identify themselves as visible minorities*

Our commitment to diversity leads us to broader ideas, greater empathy and improved decision-making, helping BMO to be the bank that defines great customer experience.
*As of October 31, 2010

Image of mathematical equations on a blackboard.

Game Changer

BMO announced the creation of the $8 million BMO Isaac Newton Chair in Theoretical Physics.

BMO’s pioneering $4 million gift to Waterloo, Ontario’s Perimeter Institute for Theoretical Physics will bring the first of five pre-eminent scientific minds to Canada – advancing innovation, Canadian science and our knowledge of the universe.

“Human creativity is the ultimate economic resource” – Ontario in the Creative Age, Martin Prosperity Institute, University of Toronto (2009)

5,650

Employees who completed Customer Conversations training. They now have the skills to expand the conversation – and the relationship – beyond the customer’s immediate financial needs.

Thought Leaders

We’ve been investing strategically in our leadership team. An addition of note in 2010 is the Honourable Kevin Lynch, P.C., former Clerk of Canada’s Privy Council, named Vice-Chair, BMO Financial Group. Dr. Lynch serves as a key strategic advisor to senior management, advising them on strategic planning for the changing world after the recession, focusing on the global drivers of change.

96%

BMO employees who, in our annual employee survey, said that they understand how their role contributes to achieving our vision of being the bank that defines great customer experience.

Mentors

BMO is the exclusive industry sponsor for the ACCES Speed Mentoring program, which is designed to help new Canadian jobseekers develop their networking skills and make connections through individual coaching sessions with senior leaders.

Civic Leaders

In 2009, when the government of Canada created a national Task Force on Financial Literacy, L. Jacques Ménard, O.C., O.Q., Chairman, BMO Nesbitt Burns and President, BMO Financial Group, Quebec, was appointed as vice-chair.

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