BMO Named One of the Most Diverse and Inclusive Companies in the World
TORONTO: 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 and Inclusion Index.
"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.
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)