BMO Makes Third Consecutive Appearance on Bloomberg’s Gender-Equality Index
January 23, 2018 / Source: Bank News
January 23 — BMO Financial Group announced that it has been included in the Bloomberg Gender-Equality Index (GEI). The index measures gender equality across internal company statistics, employee policies, external community support and engagement, and gender-conscious product offerings for fiscal year 2016.
“An inclusive culture is a top priority at BMO. We have achieved our goal of 40 per cent women in senior leadership roles; 42 per cent of our independent board members are women; and we have achieved industry-leading inclusivity scores,” said Simon Fish, General Counsel for BMO Financial Group and BMO’s Executive Diversity Champion. “Looking ahead, this strong diversity and inclusion position gives us a unique opportunity to advance progressive ideas and lead transformation that will create more open, diverse and inclusive workplaces. We will continue to make bold commitments to sustain our progress.”
Key initiatives include:
A diverse board helps the bank make better decisions – BMO’s Board of Directors believes that a board made up of highly qualified directors from diverse backgrounds helps BMO make better decisions. BMO’s Board Diversity Policy includes the goal that each gender comprise at least one third of the independent directors – currently, 42 per cent (five of twelve) of BMO’s independent board members are women.
Leading by example – BMO CEO Darryl White signed the Catalyst Accord 2022 and agreed to be a CEO Champion for Change, committing BMO to setting the pace of change for other companies to increase the number of women on boards and women in executive positions.
Moving forward – BMO established its Vision2020 strategy with a new gender equity goal to achieve a minimum representation of men and women in senior leadership roles of 40 per cent in each line of business.
Gender Equality and the Advancement of Women – BMO has made a priority of understanding women’s unique financial needs and developing tools and resources that can help women investors and business owners succeed.
Driving social change by investing in gender-diverse companies – BMO was the first Canadian bank to launch an impact-investing mutual fund focused on gender diversity. The BMO Women in Leadership Fund, which launched in April 2016, provides investors with exposure to a portfolio of North American companies with gender-diverse leadership.
Developing leaders for today and for the future – BMO’s Leadership Curriculum consists of research-based, custom-designed programs that incorporate formal, informal and experiential opportunities for BMO leaders at various points in their career.