Bank of Montreal 2002 Annual Report Download - page 9

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BMO FINANCIAL GROUP ANNUAL REPORT
2002
5
WILLIAM A. DOWNE
Deputy Chair, BMO Financial Group
and Chief Executive Officer, BMO Nesbitt Burns
In recent years, we have created an organization that is
differentiated as much by the synergies that exist between
its complementary businesses as by the uniqueness of
its parts.
That greater alignment has enabled us to leverage our rep-
u
tation as a trusted advisor. We have in place the breadth of
offering and the organizational infrastructure to provide
our clients with products and services that are tailored
to their objectives. We can meet people’s financial needs
whether they want to build a business, develop a retirement
plan or put their kids through school. We have the desire
–
and the ability
–
to serve people exceedingly well. That’s
always been the secret behind companies that have suc-
ceeded in creating great value over a long period of time.
GILLES G. OUELLETTE
President and Chief Executive Officer,
Private Client Group, BMO Financial Group
and Deputy Chair, BMO Nesbitt Burns
Despite the uncertain markets of recent years, the
outlook for the wealth management business is very
favourable. Our long-standing experience and our recent
expansion position us to benefit from the substantial
growth we expect.
The largest ever demographic group, the baby boom gener-
ation, is shifting from consumption to savings, providing
significant opportunities for growth in financial services
over the next two decades. More than a century of experi-
ence in full-service investing and private banking, as well
as our leading position in direct investing, give us a solid
foundation in the wealth management business.
Our strategy of expanding selectively and strategically
is working, allowing us to build upon our existing strengths.
Expansion in recent years gives us a presence in many of
the affluent, fast-growing markets in the United States and
complements our national distribution in Canada. Our focus
now is on executing our strategy, leveraging our acquisitions
to meet our financial performance objectives and delivering
results that reach our financial targets.
ROSE M. PATTEN
Executive Vice-President, Human Resources
and Head, Office of Strategic Management
We have clear strategies in each of our businesses, and we
are dedicated to the successful execution of those strate-
gies. To achieve our objectives, the vital role of people
must be fully considered in all our strategic decision-
making and implementation plans.
With that in mind, we have focused our people strategies
on three objectives. We want to make sure that we have top
talent in our key roles and throughout our organization.
We want to create a high-performance culture, one whose
effectiveness we can measure. And we want to foster an
engaged and motivated workforce.