Le Lézard
Classified in: Business
Subjects: HSP, ASI, BLK, CSR, NTA

BMO Announces Next Steps in Eliminating Racial Injustice

TORONTO, July 13, 2020 /CNW/ - BMO Financial Group today announced next steps in its commitment to a society with zero barriers to inclusion by working to eliminate racial inequities across the organization and the financial services industry. A variety of initiatives are now underway to address gaps that are impacting Black, Indigenous and People of Colour (BIPOC) employees, customers, and communities. Direct actions include working on new diversity goals, implementing a Black and Latino advisory council, creating leadership development programs for career advancement, and setting student hiring targets for BIPOC youth.

"To boldly grow the good in business and life we must be leaders in fostering diversity and inclusion in the workforce. More needs to be done to eliminate barriers to inclusion and we are accelerating initiatives that will create meaningful and sustainable change," said Darryl White, Chief Executive Officer, BMO Financial Group. "Creating a more inclusive society is foundational to who we are as a company, and that includes removing impediments to career progression that disproportionately impact BIPOC employees across the financial services industry. It also means acknowledging existing gaps in representation, listening to the experiences of our employees, and working to dismantle systems that have not been equitable ? both in our organization and in our communities."

Community Support and Partnerships

BMO is committed to driving inclusive behaviours in its community alliances and partnerships in areas such as workforce development, healthcare, small business, affordable housing, arts, and culture. Ongoing support of minority-owned small businesses, including clients and vendors, continues as part of the overall diversity strategy.

Additional developments in community partnerships and support include:

Cultivating an Inclusive Workforce and Society

In championing diversity and inclusion, BMO is committed to the following initiatives and resources to diversify the composition of its workforce:

BMO's diversity and inclusion governance model is built on leadership accountability and working closely in collaboration with the 6,000 members of its 14 ERGs across the bank.

Listening, Learning, and Action

As part of its commitment to champion a culture of continual learning, BMO has established the following educational resources for employees:

In addition to these new programs, and under the guidance of BMO's Black Professionals Network ERG, employees have access to existing resources that will help them better understand Black racism and the Black experience, such as:

Supplementing direct actions already underway across the organization, BMO CEO Darryl White has endorsed the Canadian Council of Business Leaders Against Anti-Black Systemic Racism's CEO Pledge alongside other leaders in the financial services industry. The commitments outlined in the pledge are aligned with BMO's plans related to representation and advancement, education, collaboration with the Black community, and setting conditions for success. It also provides an opportunity for corporate leaders to share goals and learnings across industries to foster a more equitable landscape.

Additional details related to BMO's ongoing focus on racial equity will be announced in the coming weeks. For more information on BMO's commitment to diversity and inclusion, visit: https://corporate-responsibility.bmo.com/.

About BMO Financial Group 
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged 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, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

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News published on 13 july 2020 at 10:10 and distributed by: