Bank of Montreal 2002 Annual Report Download - page 4

2002 Key Initiatives Focus for 2003
▪Introduced Pathway Connect
TM
, our sales and service technology platform, to
most of our branches across Canada. Implementation for the remaining branches
and call centres is expected in early 2003.
▪ Developed customer knowledge and decision support software that enables us to
offer customers relevant solutions at the right time and through the right channel.
▪Focused and integrated our marketing efforts through our Help Provided
initiative, which links important customer issues to highly relevant solutions.
▪ Experienced strong balance sheet and market share growth by addressing our
retail customers’ deposit, investment and borrowing needs.
▪ Solidified our number two position in the small business banking market by
being the leader in market share growth.
▪ Increased Chicagoland Banking’s retail and small business loans by US$1.7 bil-
lion or 26%. The acquisition of First National Bank of Joliet accounted for
US$500 million of this increase.
▪ Increased our U.S. presence with the acquisition of CSFBdirect
TM2
,Northwestern
Trust and Investors Advisory Company and the online accounts of Morgan
Stanley Individual Investor Group. On September 27, 2002, we announced our
intention to acquire certain assets of California-based myCFO
TM3
.
▪Successfully integrated CSFBdirect and the online accounts of Morgan Stanley
Individual Investor Group with Harris InvestorLine to create Harrisdirect.
▪
Expanded our North American distribution network to more than 2,310 invest-
ment sales professionals.
▪ Added 115 investment sales professionals in Canadian Bank branches, bringing
the total to more than 815.
▪Earned recognition for our leading product and service offerings: BMO
InvestorLine
®
was ranked best direct investing firm in Canada by GomezCanada
and The Globe and Mail’s Online Brokerage Report; Harrisdirect’s web site was
named “Best of the Web” by Forbes.com; and Harris Insight Funds
TM1
family was
ranked eighth out of 87 qualifying fund families in Barron’s annual ranking.
▪Ranked first in market share of Canadian equity block trading for the eighth
straight year.
▪Ranked Top Overall Research Team in the Brendan Wood International Survey
for the 22nd consecutive year.
▪Our Canadian Securitization unit was ranked first in market share for asset-
backed commercial paper conduit outstandings, and term market issuance.
It also ranked first in mortgage-backed and asset-backed securities trading for
the seventh consecutive year.
▪ Ranked first for Overall Quality of Sales Service and Overall Quality of Trader
Service in the Brendan Wood International Survey.
▪Ranked first in market share of Canadian export letters of credit.
▪ Drive revenue growth by improving customer
retention and loyalty, expanding our business
with existing customers and acquiring new
customers.
▪ Continue to drive improvements in productivity.
▪ Continue to improve our customer loyalty scores
and close the shortfall against our competitors
for personal and small business clients.
▪ Leverage our position in Commercial and Small
Business Banking to further build momentum
in balance sheet and market share growth.
▪Extend the services offered through our online
banking channel.
▪Grow market share in Chicagoland by expand-
ing our distribution network.
▪
Enhance our offering to retail and affluent
clients through sales force growth and develop-
ment, improving our technology and integrating
product and marketing initiatives.
▪ Further leverage relationships within the group
and with our BMO partners by better integrat-
ing our sales approach and product offering.
▪ Expand our U.S. wealth management businesses
through both selective acquisitions and organic
growth while building on The Harris’ strong rep -
utation as we expand into targeted new markets.
▪ Continue to refine our businesses to enhance
productivity, while aligning our business units
to ensure consistently successful results regard-
less of the business environment.
▪ Maintain leadership in the Canadian high-return
fee businesses of equity, debt, securitization, and
mergers and acquisitions.
▪Continue to build on the success of the Harris
Nesbitt mid-market franchise.
▪Selectively expand into new products and trad-
ing strategies that relate to our areas of existing
expertise.
▪Build further on our strengths in targeted high-
growth sectors and markets.
▪Maintain our disciplined approach to cost and
capital management.
In June 2002, Bank of Montreal announced a new unified branding approach that links all of our organization’s member companies. Bank of Montreal, together
with its subsidiaries, is now known as BMO Financial Group. As a result, in this report, the names BMO and BMO Financial Group mean Bank of Montreal.
With more than 33,000 employees, we offer our clients a broad range of retail banking,
wealth management and investment banking products and solutions.