BMO Financial Group – “Great company, big challenges”

Pros

BMO is committed to diversity, great customer experience, and fairness to employees. There is tremendous opportunity for advancement at more junior levels in both the US and Canada.

Cons

More and more decision making is being done in Toronto, leaving those in the US with little chance to impact the company. Decision making is frustratingly slow and prone to reversal if full concensus can't be obtained. Very little recognition of the competitive nature of the US market; BMO only sees the other Canadian banks as competitors, and those banks cooperate more than compete. Top US employees have limited career advancement opportunities unless they move to Toronto.

Advice to Senior Management

As BMO continues to expand in the US more decisions will need to be delegated to those who run that market. Canadian banking is not like US banking, and BMO must learn that lesson soon to succeed. Speed and conviction will be important to BMOs future. BMO can't please everyone and must make hard choices about what is most important- both internally and externally.