BMO Financial Group has announced five-year, diversity goals to address gaps affecting Black, Indigenous, People of Colour, Latino, and LGBTQ2+ employees, customers and communities.

The new benchmarks and plans include doubling enterprise-wide representation of Black senior leaders, accelerating Indigenous talent strategies, introducing an LGBTQ2+ representation goal, and sustaining a strong gender equity position.

Committing to more inclusive society

"Our commitment to create a more inclusive society is unwavering, and our renewed diversity strategy is one of the ways we're driving meaningful change for our employees, customers, and local communities," said Darryl White, CEO of BMO Financial Group. "These ambitious goals will help us achieve our vision of eliminating barriers to inclusion in society, by directly addressing gaps in representation across our organization and the financial services industry to create opportunities for all."

BMO's new diversity strategy focuses on:

  • Increasing representation of Black employees in senior leadership roles to 3.5 per cent and 7 per cent in Canada and the U.S., respectively

  • Increasing representation of People of Colour employees in senior leadership roles to 30 per cent or greater in Canada and the U.S., respectively

  • Increasing representation of Latino employees in senior leadership roles to 7 per cent in the U.S.

  • Sustaining our current gender equity position with a range of 40 to 60 per cent representation in senior leadership roles

  • Increasing representation of Black and Latino interns and entry-level employees to 30 per cent in the U.S., and ensuring 40 per cent of student opportunities in Canada are directed to BIPOC youth

  • Increasing representation of Indigenous Peoples across our workforce in Canada to 1.6 per cent

  • Increasing representation of persons with disabilities within a range of 5 to 7 per cent of the workforce

  • Introducing an LGBTQ2+ representation goal of 3 per cent of its workforce