Nine major banks have been named as among the most diverse and inclusive workplaces in the world in the 2017 Thomson Reuters Diversity & Inclusion Index.
The annual ranking features the top 100 companies deemed “very likely to be the best in class relative to their industry and country peers.”
Nedbank (16th) and Bank of Montreal (19th) are the top ranked banks ahead of Bank of the Philippines Islands and BNP Paribas (equal 40th) and Citigroup 54th.
Barclays (57th), Société Générale (67th), Toronto Dominion (71st) and ING (93rd) are the other lenders to feature.
The Diversity & Inclusion (D&I) Index and Ratings are based on metrics across four key categories: Diversity; Inclusion; People Development; and News Controversies.
“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 recognise 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 2012, BMO launched a five year Diversity Renewal Initiative which focused on transforming BMO’s senior leadership ranks, talent pipeline, and organisational 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% of senior leadership roles are held by women and 36.4% of the Board of Directors are women.
“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 Colour in the US through stronger promotions and elevated focus on key segments.