BMO joins leading US banks in support of Ownership Works, to help create wealth for working families through employee ownership programs
-
bookmark
-
print
-
Ownership Works and founding partners to advocate for and implement employee ownership programs that create economic opportunity for working families, advance racial equity, enhance employee engagement and build stronger companies
New York, NY – April 5, 2022 – BMO Financial Group (BMO) announced today its partnership with Ownership Works, a new nonprofit with a mission to increase prosperity through shared ownership at work – a mission that strongly aligns with BMO’s own advocacy efforts and its Purpose to Boldly Grow the Good, in business and life.
BMO is one of a group of partners across the private, public and nonprofit sectors committed to helping Ownership Works develop and implement broad-based employee ownership programs. These programs will create better work environments and financial opportunities for employees, and help businesses improve their performance by attracting and retaining engaged employees who are invested in their company’s success. By 2030, Ownership Works anticipates that the shared ownership movement will create hundreds of thousands of new employee-owners and generate at least $20 billion of wealth for working families.
“We’ve been advocating for public policy that enables greater levels of employee ownership because the benefits are clear: more employees that realize the benefits of ownership translates to more financial progress for all,” said Dan Barclay, CEO, BMO Capital Markets. “As a leading lender in the US to employee owned companies, we’re proud to support Ownership Works and the work they’re doing to develop a more inclusive society.”
Ownership Works’ founding partners include financial services firms and pension funds to elevate shared ownership as a leading ESG strategy; public companies with employee ownership to share their knowledge and expertise; labor advocates to advance shared ownership as one core pillar of a quality job; and investment firms to co-create replicable models of shared ownership for implementation at over 50 companies by the end of 2023. The non-profit provides companies and investors with hands-on support to design and implement shared ownership programs, along with a suite of tools and best practices, based on a model that has four components:
-
Structuring & Implementing Broad-Based Ownership Programs
-
Developing a Culture of Ownership
-
Creating a Financially Inclusive & Resilient Workforce
-
Sharing Data, Best Practices & Insight
BMO’s commitment to Ownership Works includes a $500,000 donation over five years, as well as ongoing expertise and guidance related to building effective and equitable employee ownership programs. In the coming months BMO will work with Ownership Works to build a partnership roadmap to support the movement and companies in their transition to employee ownership models.
For more information, including a list of the firms that have committed to Ownership Works please click here. For BMO’s perspective on the public policy changes needed to increase employee ownership in Canada, click here.
About Ownership Works
Founded in 2021, Ownership Works is a nonprofit organization on a mission to increase prosperity through shared ownership at work. We partner with business leaders and investors to provide all employees with the opportunity to participate in the success they help create. Our shared ownership approach improves employees’ financial security, helps them build wealth and increases their on-the-job engagement. By creating stronger workplace cultures, our model also sets the stage for businesses to enhance performance and competitiveness.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion as of January 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
For News Media Enquiries: Kelly Hechler, Toronto, Kelly.hechler@bmo.com (416) 867-3996
-
Minute Read
-
Listen
Stop
-
Text Bigger | Text Smaller
-
Ownership Works and founding partners to advocate for and implement employee ownership programs that create economic opportunity for working families, advance racial equity, enhance employee engagement and build stronger companies
New York, NY – April 5, 2022 – BMO Financial Group (BMO) announced today its partnership with Ownership Works, a new nonprofit with a mission to increase prosperity through shared ownership at work – a mission that strongly aligns with BMO’s own advocacy efforts and its Purpose to Boldly Grow the Good, in business and life.
BMO is one of a group of partners across the private, public and nonprofit sectors committed to helping Ownership Works develop and implement broad-based employee ownership programs. These programs will create better work environments and financial opportunities for employees, and help businesses improve their performance by attracting and retaining engaged employees who are invested in their company’s success. By 2030, Ownership Works anticipates that the shared ownership movement will create hundreds of thousands of new employee-owners and generate at least $20 billion of wealth for working families.
“We’ve been advocating for public policy that enables greater levels of employee ownership because the benefits are clear: more employees that realize the benefits of ownership translates to more financial progress for all,” said Dan Barclay, CEO, BMO Capital Markets. “As a leading lender in the US to employee owned companies, we’re proud to support Ownership Works and the work they’re doing to develop a more inclusive society.”
Ownership Works’ founding partners include financial services firms and pension funds to elevate shared ownership as a leading ESG strategy; public companies with employee ownership to share their knowledge and expertise; labor advocates to advance shared ownership as one core pillar of a quality job; and investment firms to co-create replicable models of shared ownership for implementation at over 50 companies by the end of 2023. The non-profit provides companies and investors with hands-on support to design and implement shared ownership programs, along with a suite of tools and best practices, based on a model that has four components:
-
Structuring & Implementing Broad-Based Ownership Programs
-
Developing a Culture of Ownership
-
Creating a Financially Inclusive & Resilient Workforce
-
Sharing Data, Best Practices & Insight
BMO’s commitment to Ownership Works includes a $500,000 donation over five years, as well as ongoing expertise and guidance related to building effective and equitable employee ownership programs. In the coming months BMO will work with Ownership Works to build a partnership roadmap to support the movement and companies in their transition to employee ownership models.
For more information, including a list of the firms that have committed to Ownership Works please click here. For BMO’s perspective on the public policy changes needed to increase employee ownership in Canada, click here.
About Ownership Works
Founded in 2021, Ownership Works is a nonprofit organization on a mission to increase prosperity through shared ownership at work. We partner with business leaders and investors to provide all employees with the opportunity to participate in the success they help create. Our shared ownership approach improves employees’ financial security, helps them build wealth and increases their on-the-job engagement. By creating stronger workplace cultures, our model also sets the stage for businesses to enhance performance and competitiveness.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion as of January 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
For News Media Enquiries: Kelly Hechler, Toronto, Kelly.hechler@bmo.com (416) 867-3996
You might also be interested in
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 5 per cent from the prior year
BMO's 20th Equity Through Education Trading Day Raises C$1.5 Million to Promote Education, Development and Progress for Promising Students Around the World
BMO Named Best Private Bank and Retail Bank in Canada and Best Commercial Bank in US and Canada
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 5 per cent from the prior year
Inaugural BMO Wine Market Report: U.S. Wineries Optimistic about Sustained Sales Growth Over Next 5 Years
The Future of Food: Global Food and Agriculture Trends and Outlook BMO Hosts 19th Farm to Market | Chemicals Conference in New York
A First in Western Canada: Avenue Living Leverages BMO's Retrofit Program to Add 179 New Rental Units in Downtown Edmonton
Expanded Latino Leaders Index500, Powered by BMO Ranks Top U.S. Latino-Owned Businesses
Record Investor Attendance Expected at BMO's 33rd Global Metals, Mining & Critical Minerals Conference, February 25th to February 28th, 2024
BMO Establishes new U.S. Wine Industry Partnership, Enhancing Offering for Wine and Spirits Industry
BMO Arranges Green Financing to Fund New Lawson Centre for Sustainability, Trinity College's Most Significant Build in a Century
BMO ranked one of the most sustainable companies in North America on the Dow Jones Sustainability Indices
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 6 per cent from the prior year
BMO Climate Institute Business Leaders Survey: Nearly Half of Business Leaders in the U.S. and Canada Believe Climate Change Has Already Affected Their Businesses, but Few Have a Strategy
BMO Blue Book: U.S. Economy is Resilient but Predicted to Slow in Early 2024
BMO Announces Retirement of Dan Barclay, Names Alan Tannenbaum CEO, BMO Capital Markets
BMO's 19th Equity Through Education Trading Day Raises C$1.65 Million to Promote Education, Development and Progress for Promising Students Around the World
BMO Donates $3 Million to GRID Alternatives to Provide Solar Energy Solutions for Low-Income Families
Banco do Brasil and BMO Financial Group to Introduce First-of-its-Kind Program to Provide Sustainability-Linked Trade Loans Supporting Brazilian Exporters
BMO Provides Innovative New Sustainability-Linked Deposit Product to Zurn Elkay Water Solutions
BMO Marks National Indigenous History Month and National Indigenous Peoples Day with Support for Indigenous-Led Organizations that Empower Communities
BMO and Bell Canada Execute Innovative Sustainability-Linked Derivative Tied to Ambitious GHG Emission Reduction Targets
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 6 per cent from the prior year
BMO Named to UN-Convened Group Providing Guidance to Global Banks on Nature Target Setting
Global Food and Agriculture Trends and Outlook: BMO Hosts 18th Farm to Market | Chemicals Conference in New York
BMO Celebrates Earth Day with 3rd Annual Trees from Trades Day on its Global Trading Floors
BMO Capital Markets CEO Dan Barclay named Male Ally of the Year by Financial Women's Association
BMO Ranked North America's Most Sustainable Bank by Corporate Knights for Fourth Consecutive Year
BMO ranked one of the most sustainable companies in North America on the Dow Jones Sustainability Indices
Top Rankings for BMO Capital Markets' FICC Macro Strategy Group in Institutional Investor Client Survey
BMO Climate Institute Survey Shows Costs and Competing Priorities Slowing Climate Action for Small and Mid-Sized Businesses
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 8 per cent from the prior year
BMO the Top Ranked Financial Institution on New Global Sustainability Benchmark Announced at COP 27
The Government of Canada announces the issuance of a Ukraine Sovereignty Bond
BMO to Invest in Innovative Carbon Offsets from CarbonCure to Permanently Store CO2
The Financial Women's Association Underscores Its Commitment to the Back2Business™ Return-to-Work Program
A Canadian First: BMO and Concordia University Partner for a Sustainable Future with Innovative Sustainability-Linked Loan
BMO's 18th Global Equity Through Education Trading Day Raises C$1.65 Million for Education and Development of Students in Need
BMO Capital Markets Trading Floors in Toronto, New York and London Promote Equity Through Education for 18th Year to Provide Financial Aid to Students
BMO to Acquire Calgary-based Radicle Group Inc., a Leader in Environmental Services
BMO Financial Group Increases Common Share Dividend by 6 cents from the prior quarter, up 31 per cent from the prior year
BMO Expands Electronic Trading Operations for Institutions and Broker Dealers to EMEA Markets
BMO and EDC Announce Collaboration to Introduce Sustainable Finance Solutions for Canadian Businesses
BMO proud to support first Government of Canada Green Bond transaction as joint-lead manager
BMO Supports Women Entrepreneurs in Canada with $5 Billion in Capital to Mark International Women’s Day 2022
BMO Launches Business Within Reach: BMO for Black Entrepreneurs and Commits $100 million in loans to Help Black-led Businesses Start up, Scale up, and Grow
BMO Announces Plan to Partner with Breakthrough Energy Catalyst to Accelerate Climate Innovation
BMO Financial Group Named North America's Most Sustainable Bank for Third Consecutive Year
BMO Financial Group accelerates North American growth with strategic acquisition of Bank of the West
BMO Capital Markets Named Best Canadian Bank for USD/CAD for 11th Consecutive Year
BMO Financial Group Announces Intention to Repurchase Up to 22.5 Million of its Common Shares
BMO Financial Group Increases Common Share Dividend by 27 cents from the prior quarter, up 25 per cent from the prior quarter and prior year
BMO Helps Boralex Go Beyond Renewable Energy, with the Transition of its Credit Facility to a Sustainability-Linked Loan
BMO Capital Markets' Fixed Income Strategy Group Earns Top Rankings in Institutional Investor Survey
BMO First Bank to Pre-Purchase Direct Air Capture Carbon Removals using Carbon Engineering technology
A Global First: BMO Supports Bruce Power with World's First Nuclear Green Financing Framework
BMO ranked one of the most sustainable companies in the world according to Dow Jones Sustainability Indices
North American Metals & Mining first: BMO helps Sandstorm Gold Royalties achieve ESG goals with Sustainability-Linked Loan
BMO Celebrates International Day of the Girl 2021 - Participates in New Sustainability Innovation Hub to Inspire Young Women
BMO marks National Day for Truth and Reconciliation with $600,000 in donations to Indigenous organizations across Canada
Education, Employment and Economic Empowerment: BMO Releases Wîcihitowin ᐑᒋᐦᐃᑐᐏᐣ- First Annual Indigenous Partnerships and Progress Report
BMO's 17th Annual Equity Through Education Trading Day Raises C$1.6 Million to Promote Diversity, Equity and Inclusion
Media Advisory - BMO Celebrates 17 Years of Promoting Diversity and Inclusion Through BMO Capital Markets' Equity Through Education Trading Day
BMO Harnesses AI Technology for Capital Markets Structured Note Pricing and Scenario Analysis
BMO Announces $12 Billion Financing Commitment towards Affordable Housing in Canada
BMO supports Canada's bid to host the headquarters of the International Sustainability Standards Board
BMO Named to Canada's Best 50 Corporate Citizens Ranking by Corporate Knights
Bringing Indigenous Perspectives to Canadians: First Nations University of Canada, Reconciliation Education and BMO launch new eLearning to mark National Indigenous History Month
The Future of Food & Agriculture: BMO Hosts World-Leading Farm to Market Conference for 16th Consecutive Year
Rush University System for Health and BMO Financial Group Announce $10 Million Donation to Create the Rush BMO Institute for Health Equity
BMO Shares Progress on IFC led Operating Principles for Impact Management in First Disclosure Statement
BMO Announces $250,000 Donation to Organizations Supporting Global Emergency COVID-19 Relief Efforts
A North American First: BMO Helps Gibson Energy Fully Transition Credit Facility to a Sustainability-Linked Loan
Forbes names BMO Harris Bank one of the Best Employers for Diversity 2021 for the third year in a row
BMO Issues C$750 million Women in Business Bond In Support of Women-Owned Businesses
BMO Commits $1.2 Million to SheEO Programs Helping Women-Led Venture Companies Access Financing
BMO Named One of the World's Most Ethical Companies by the Ethisphere Institute for the Fourth Year in a Row
BMO Financial Group among first Canadian banks to sign United Nations Principles for Responsible Banking
BMO Financial Group ranked top bank in North America on Corporate Knights' 2021 Global 100 Most Sustainable Corporations in the World
BMO Financial Group 2020 Sustainability Report and Public Accountability Statement Now Available Online
BMO Capital Markets Named Best Canadian Bank for USD/CAD for 10th Consecutive Year
BMO Ranked Among Most Sustainable Companies on Dow Jones Sustainability Index - North America
BMO Financial Group Reaches Key Milestone in Matching 100 Per Cent of Electricity Usage with Renewables
BMO Financial Group Recognized as One of the World's Most Sustainably Managed Companies in New Wall Street Journal Ranking
BMO Capital Markets to Donate C$1.6 Million Following 16th Annual Equity Through Education Trading Day
Media Advisory - BMO Capital Markets Celebrates 16 Years of the Equity Through Education Trading Day
Forbes ranks BMO Harris Bank as one of America’s Best Employers for Women in 2020
Tracking the Recovery: BMO Economics Introduces Canadian Business Activity Index
BMO Capital Markets to host 2020 Prescriptions for Success Healthcare Virtual Conference
BMO Financial Group to Source 100 Per Cent of Electricity Usage From Renewables
Media Advisory - BMO Expert Podcast on COVID-19 and the Future of the Global Economy
Canada's Six Biggest Banks Take Decisive Action To Help Customers Impacted by COVID-19
Maple Leaf Foods and BMO Capital Markets enter into First Sustainability-Linked Loan in Canada