BMO Investments makes changes to its mutual fund lineup

Two of Canada’s Big Banks rank among the world’s 100 best companies in terms of the diversity and inclusiveness of their workplaces, according to a report released Tuesday by financial information firm Thomson Reuters.

The second annual ranking of the top 100 most diverse and inclusive companies lists Bank of Montreal in a tie for 18th place with German insurer Allianz SE, and Toronto-Dominion Bank is tied for 71st place with German automaker,Daimler AG, and PPC Ltd., a South African cement company.

The diversity and inclusion index features the top 100 firms in the world as measured by scores on 24 metrics in four areas — diversity, inclusion, people development, and news controversy — based on environmental, social, and governance (ESG) data collected by Thomson Reuters. The top ranked firms in the world are Contact Energy Ltd., Gap Inc., and Johnson & Johnson.

“The global evidence is overwhelmingly clear, diversity is increasingly becoming a performance issue, a growth engine, and companies can no longer afford not to realize its societal benefits as well,” says Debra Walton, managing director, customer proposition, financial and risk, Thomson Reuters, in a statement.

“Our research shows that over 1, 3, and 5-year periods companies that make investments and focus on ESG metrics can have a stronger stock performance and better long-term profitability,” she adds.

“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,” says Sonya Kunkel, head enterprise customer experience, in a statement. “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.”

Kunkel was formerly BMO’s chief inclusion officer, and a driving force behind building BMO’s strong inclusive culture.

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