BMO: Canadian Employment Steady, But Cooling – Poll Shows A Split In Workers Expecting a Raise or Promotion

TORONTO, September 9, 2011 – New job numbers released today showed there was a dip of 5,500 jobs in August and the unemployment rate edged up slightly to 7.3 per cent. According to Statistics Canada, in the past 12 months, employment has grown 1.3 per cent, with an increase of 223,000 jobs.

Following the release of these numbers, BMO issued the results of a survey conducted by Leger Marketing that found many Canadians are divided on how they view where they’re going in their job. More than one in four (28 per cent) said they’re expecting a raise or promotion in the next year. On the other hand, 23 per cent feel there is no possibility of a raise or promotion.

The 2011 BMO Labour Day Survey also found that 51 per cent are comfortable with their job security.

“While month-to-month dips shouldn’t be weighed too heavily, the underlying trend in Canada’s job market is beginning to cool. Full-time jobs were a highlight, again posting a solid gain of 25,700,” said Douglas Porter, Deputy Chief Economist, BMO Capital Markets. “However, private sector and goods-producing jobs fell in the month. As well, after a steady drop in the past year, the unemployment rate nudged up a tick to 7.3 per cent, although still down from 8.1 per cent a year ago. Even with the headline jobs setback, total hours worked did rise 0.3 per cent in the month, and are headed for a solid Q3 reading.”

According to BMO Economics, the high Canadian dollar is forcing many Canadian companies to increase their competitiveness by improving productivity.

“When it comes to productivity, there is still room for improvement as Canada lags behind the U.S. However, the good news is that Canadian companies have not been faced with the same pressure for job cuts as their U.S. counterparts,” said Cathy Pin, Vice-President, Commercial Banking, BMO Bank of Montreal. “Our research shows that while some feel the prospects in their current role are limited, there is an equal positive view as more Canadians feel they have a promotion or a raise to look forward to, and even more feel overall that they are secure in their job.”

Regional Survey Results – those who said they feel they are up for a raise or promotion:

Province/Region Percentage
Atlantic Canada 25%
Quebec 31%
Ontario 25%
Manitoba/Saskatchewan 35%
Alberta 30%
British Columbia 26%

Those who said they feel they’re in a dead-end job, and their company isn’t in a position to offer promotions, raises or bonuses:

Province/Region Percentage
Atlantic Canada 31%
Quebec 26%
Ontario 23%
Manitoba/Saskatchewan 17%
Alberta 24%
British Columbia 16%

The Leger Marketing survey was completed on-line from August 2nd to August 4th, 2011 with a sample of 1501 Canadians, 18 years of age or older. A probability sample of the same size would yield a margin of error of ±2.5 per cent, 19 times out of 20.

Ten National Teams From Around the World Compete in 2011 BMO Nations’ Cup at Spruce Meadows in Calgary

BMO has sponsored the Nation’s Cup for the last 34 years

SPRUCE MEADOWS (CALGARY) AB, September 6, 2011 – National teams from 10 countries around the world will arrive in Calgary this week to compete in the BMO Nations’ Cup, one of the richest team show-jumping events in the world. The event, which carries a prize of $350,000 will take place on Saturday, September 10, at Canada’s premier show-jumping event, the Spruce Meadows “Masters” Tournament.

The 2011 Canadian Team, lead by Chef d’équipe Terrance Millar, will include the number one show jumping rider in the world, Eric Lamaze, along with veterans Ian Millar, Jonathan Asselin and Tiffany Foster.

This year Spruce Meadows will be welcoming the reigning Asian Games Champions, Saudi Arabia, including a member of the Saudi Royal Family. Saudi Arabia is competing for the first time in the BMO Nations’ Cup.

“BMO is proud of our longstanding sponsorship of Canada’s premiere equestrian team competition,” said Frank Techar, President and CEO, Personal and Commercial Banking, BMO Financial Group. “The BMO Nations’ Cup has brought together the finest competitors in the sport for more than three decades. The event is an exciting opportunity to showcase talented athletes, and bring international recognition to the Calgary’s Spruce Meadows Masters Tournament.”

“The BMO Nations’ Cup is a leading international event in our sport. This year the event features dominant players, including former and reigning World, Olympic and European Champions,” said Spruce Meadows president, Linda Heathcott. “The fact that BMO Financial Group has been a part of the Spruce Meadows story from the start makes the competition and atmosphere truly unique.”

The roster of 2011 BMO Nations’ Cup teams invited to compete includes:

  1. Canada – 2008 Olympic Silver Medalist and 2006 BMO Nations’ Cup Winner.
  2. Belgium – Seeking its first BMO Nations’ Cup win.
  3. France – 1993 BMO Nations’ Cup Winner.
  4. Great Britain – Ten BMO Nations’ Cup wins – more than any other country.
  5. Ireland – Three-time winner of the BMO Nations’ Cup.
  6. Mexico – Seeking its first BMO Nations’ Cup win.
  7. Saudi Arabia – Making its BMO Nations’ Cup debut.
  8. Switzerland – Seeking its first BMO Nations’ Cup win.
  9. The Netherlands – 2009 BMO Nations’ Cup Winner.

10. United States – 2010 BMO Nations’ Cup Winner, 2004 and 2008 Olympic Team Gold..

Last year, 69,000 people attended the BMO Nations’ Cup and organizers hope to surpass this number in 2011. Fans with a BMO card can participate in the BMO Power of Blue program, which offers great client experiences during the Spruce Meadows Masters Tournament, including a chance to ride on the BMO float in the Parade of Nations.

Fans are also invited to visit the BMO Fan Centre, located in the Plaza Terraces, which features the following:

  • Autographs from the best show jumping athletes in the world.
  • Kids can test their money sense by playing a life-sized board game, Saddles ‘n Cents.
  • Have your photo taken with the BMO Nations’ Cup trophy and award-winning horses.
  • Show your BMO debit card or credit card to receive a BMO Enviro Bag and other perks
  • Face painters, caricaturists, and appearances by BMO the Bear from Friday, September 9 to Sunday, September 11.
  • Enjoy the musical entertainment during the week.

About BMO and the Equestrian Community:

As the founding sponsor of Spruce Meadows, BMO Financial Group has a long and proud history of supporting equestrian sport in Canada. Since 1977, BMO has sponsored the BMO Nations’ Cup at Spruce Meadows, attracting the top international show jumping teams to compete in Canada. In addition, BMO proudly sponsors Canadian Equestrian Team member, Ian Millar, and the BMO Grand Prix at the Gingerwood Charity Horse Show in Prince Edward Island.

BMO Applauds the Federal Government for Designating 2011 as ‘The Year of The Entrepreneur’

TORONTO, January 27, 2011 – BMO Bank of Montreal today offered its strong support of the Federal Government’s decision to designate 2011 as the Year of the Entrepreneur. BMO encourages any new initiatives that will help unleash the Canadian entrepreneurial spirit and make it easier for small businesses to invest and create jobs.

“Looking ahead, we see the economy gaining strength after slowing recently, growing by a projected 2.7 per cent in 2011, as high commodity prices and an upturn in U.S. demand should bolster business confidence and investment, supporting small and medium-sized businesses,” said Sal Guatieri, Senior Economist, BMO Economics.

More than one million small businesses make-up the backbone of communities across Canada accounting for nearly 98 per cent of the total of all private businesses and over the last decade and creating more than one-third of all new private sector jobs.

“Entrepreneurs are the pioneers who push the boundaries of discovery, drive growth and innovation. During the most challenging days of the recession, these small business owners showed their resilience, kept their focus on their customers, and now they are the ones who are poised to grow and lead their companies through this emerging economic recovery,” said Gail Cocker, Senior Vice President, Commercial Banking, BMO Bank of Montreal.

For news media enquiries:
Paul Cunliffe, Toronto,, (416) 867-3996
Laurie Grant, Vancouver,, (604) 665-7596
Ron Monet, Montreal,, (514) 877-1873

BMO Harris Private Banking Announces British Columbia Executive Appointments

VANCOUVER, January 27, 2011 – BMO Harris Private Banking announced the appointment of Janine Guenther as Vice President & Managing Director for British Columbia. Diana Reid, who held the position since 2000, has moved to a national role as Vice President, National Managing Director and Head of Private Wealth Group and remains based in Vancouver.

Prior to joining BMO, Ms. Guenther was the regional head of a Canadian bank’s discretionary money management business for British Columbia.

“Both Diana and Janine bring significant expertise and leadership experience to their respective roles,” said Andrew Auerbach, Senior Vice President and Head of BMO Harris Private Banking. “Diana’s proven track record of success is reflected in our growth in British Columbia. Janine’s familiarity with the British Columbia market, coupled with her knowledge of the wealth management business, will build on our success and reinforces our commitment to providing optimal solutions to our clients and exceeding their needs.”

Ms. Guenther completed her Bachelor of Commerce degree at the University of Manitoba, is a CFA Charterholder and has also completed the Chartered Market Technician program. She is also the President’s Council Representative for Canada to the Global Board of Governors for the CFA Institute.

Ms. Reid obtained her B.Sc. and L.L.B. from Dalhousie University. She has been an active member of the community and currently serves as a Governor of the B.C.’s Children’s Hospital Foundation.

BMO in British Columbia
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. In British Columbia, BMO has more than 3,000 employees and serves customers from 118 BMO Bank of Montreal branches, six BMO Nesbitt Burns offices and six BMO Harris Private Banking locations.

BMO is an active corporate citizen in British Columbia. Recent major donations have been given to BC Children’s Hospital, the VGH Grandview Woodlands Health Centre in East Vancouver, Canuck Place Children’s Hospice in Abbotsford and the Arts Club Theatre Granville Island Stage renovation. The Bank also has title sponsor for several major community events such as the BMO Vancouver Marathon, the BMO Okanagan Marathon, the BMO Grouse Grind Run and BMO Family Day at the Surrey Children’s Festival.

BMO and its employees generously support the United Ways throughout the province and BC Children’s Hospital.

Media Contact:

Laurie Grant, Vancouver,, (604) 665-7596

BMO’s Gift to the Skate Canada Athlete Fund Tops $1.5 Million

VICTORIA, January 26, 2011 – Diana Reid (right) Vice-President, National Managing Director & Head, Private Wealth Group, BMO Harris Private Banking presented a cheque on behalf of BMO Financial Group for $100,000 to the Skate Canada Athlete Fund at the 2011 BMO Canadian Figure Skating Championships in Victoria this past weekend. Over the last 15 years, BMO has donated a total of $1.5 million to provide young competitive skaters with financial support for training, education and travel. On hand for the presentation were William Thompson, CEO of Skate Canada (left) with Vanessa Crone and Paul Poirier, newly crowned Canadian ice dance champions.

For media enquiries:
Laurie Grant, BMO Financial Group, 604-665-7596,

Canadian Dollar to Stay Above Parity Through 2011, Says BMO Economics

TORONTO, January 20, 2011 – The Canadian dollar flew above parity in the waning days of 2010, and is predicted to rise a few cents above the U.S. dollar by the end of 2011, according to Douglas Porter, Deputy Chief Economist, BMO Capital Markets.

“We believe that the Canadian dollar is likely to remain firm through 2011, with further gains still possible if commodity prices continue to forge ahead,” said Mr. Porter.

The strong dollar’s impact will vary across regions in Canada, and depending on the sector, will present some challenges and opportunities. Porter noted that manufacturing, tourism and some resource industries could face some difficulties as the loonie remains firm while utilities, broadcasters, sport teams and some retailers could benefit from a stronger currency.

“Parity with the U.S. dollar could represent a significant opportunity for Canadian entrepreneurs to enhance their productivity by upgrading or refreshing their equipment,” said Cathy Pin, Vice President, BMO Commercial Banking. “A strong Canadian dollar provides additional purchasing power when importing this equipment and purchasing supplies and inventory from the global market.”

For media enquiries:
Peter Scott, Toronto,, (416) 867-3996
Sarah Bensadoun, Montreal,, (514) 877-8224
Laurie Grant, Vancouver,, (604) 665-7596