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20 BMO Financial Group 197th Annual Report 2014 BMO Financial Group 197th Annual Report 2014 21
Financial Review
Financial Review
22 Reasons to Invest in BMO
23 CFO’s Foreword to the Financial Review
24 Financial Performance and Condition at a
Glance
26 Management’s Discussion and Analysis
106 Supplemental Information
120 Statement of Management’s Responsibility
for Financial Information
121 Independent Auditors’ Report of Registered
Public Accounting Firm
122 Report of Independent Registered Public
Accounting Firm
123 Consolidated Financial Statements
128 Notes to Consolidated Financial Statements
Resources and Directories
190 Glossary of Financial Terms
192 Where to Find More Information
IBC Shareholder Information
To promote alignment of our strategic goals across all our businesses, each director sits on at least one board committee and the Chief Executive
Officer is invited to all committee meetings. We review the membership of all committees annually.
Robert M. Astley
Former President and Chief
Executive Officer, Clarica Life
Insurance Company, and former
President, Sun Life
Financial Canada
Board/Committees: Human
Resources, Risk Review,
The Pension Fund Society of the
Bank of Montreal
Director since: 2004
Janice M. Babiak
Former Managing Partner,
Ernst & Young
Board/Committees: Audit and
Conduct Review, Risk Review
Other public boards: Experian PLC,
Walgreens Co.
Director since: 2012
Sophie Brochu
President and Chief Executive
Officer, Gaz Métro
Board/Committees: Audit and
Conduct Review
Other public boards: BCE Inc.
Director since: 2011
George A. Cope
President and Chief Executive
Officer, Bell Canada and BCE Inc.
Board/Committees: Human
Resources
Other public boards: BCE Inc.
Director since: 2006
William A. Downe
Chief Executive Officer,
BMO Financial Group
Board/Committees: Attends all
committee meetings as an invitee
Other public boards:
ManpowerGroup
Director since: 2007
Christine A. Edwards
Capital Partner, Winston & Strawn
Board/Committees: Governance
and Nominating, Risk Review, The
Pension Fund Society of
the Bank of Montreal (Chair)
Director since: 2010
Ronald H. Farmer
Managing Director,
Mosaic Capital Partners
Board/Committees: Audit
and Conduct Review, Governance
and Nominating, Human
Resources (Chair)
Other public boards: Valeant
Pharmaceuticals
International Inc.
Director since: 2003
Eric R. La Flèche
President and Chief
Executive Officer, Metro Inc.
Board/Committees:
Risk Review
Other public boards:
Metro Inc.
Director since: 2012
Bruce H. Mitchell
President and Chief Executive
Officer, Permian Industries Limited
Board/Committees: Audit and
Conduct Review, The Pension Fund
Society of the Bank of Montreal
Director since: 1999
Philip S. Orsino, O.C., F.C.A.
President and Chief Executive
Officer, Brightwaters Strategic
Solutions Inc.
Board/Committees: Audit and
Conduct Review (Chair),
Governance and Nominating
Director since: 1999
Dr. Martha C. Piper, O.C., O.B.C.
Corporate Director, former
President and Vice-Chancellor,
The University of British Columbia
Board/Committees: Governance
and Nominating (Chair), Human
Resources
Other public boards: Shoppers
Drug Mart Corporation, TransAlta
Corporation
Director since: 2006
J. Robert S. Prichard, O.C., O.Ont.
Chairman of the Board,
BMO Financial Group,
and Chair of Torys LLP
Board/Committees: Governance
and Nominating, Human
Resources, Risk Review, The
Pension Fund Society of the Bank
of Montreal
Other public boards: George
Weston Limited,
Onex Corporation
Director since: 2000
Don M. Wilson III
Corporate Director
Board/Committees: Governance
and Nominating, Human
Resources, Risk Review (Chair)
Director since: 2008
Stephen E. Bachand, Ponte Vedra Beach, FL, USA
Ralph M. Barford, Toronto, ON
Matthew W. Barrett, O.C., LL.D., Oakville, ON
David R. Beatty, O.B.E., Toronto, ON
Peter J.G. Bentley, O.C., O.B.C., LL.D., Vancouver, BC
Robert Chevrier, F.C.A., Montreal, QC
Tony Comper, C.M., LL.D., Toronto, ON
C. William Daniel, O.C., LL.D., Toronto, ON
Louis A. Desrochers, C.M., c.r., A.O.E., Edmonton, AB
A. John Ellis, O.C., LL.D., O.R.S., Vancouver, BC
John F. Fraser, O.C., LL.D., O.R.S., Winnipeg, MB
David A. Galloway, Toronto, ON
Richard M. Ivey, C.C., Q.C., Toronto, ON
Betty Kennedy, O.C., LL.D., Campbellville, ON
Harold N. Kvisle, Calgary, AB
Eva Lee Kwok, Vancouver, BC
J. Blair MacAulay, Oakville, ON
Ronald N. Mannix, O.C., Calgary, AB
Robert H. McKercher, Q.C., Saskatoon, SK
Eric H. Molson, Montreal, QC
Jerry E.A. Nickerson, North Sydney, NS
Jeremy H. Reitman, Montreal, QC
Lucien G. Rolland, O.C., Montreal, QC
Joseph L. Rotman, O.C., LL.D., Toronto, ON
Guylaine Saucier, F.C.P.A., F.C.A., C.M., Montreal, QC
Nancy C. Southern, Calgary, AB
1 As at October 31, 2014.
Honorary Directors
Board of Directors1
Robert M. Astley
Sophie Brochu
William A. Downe
Ronald H. Farmer
Bruce H. Mitchell
Dr. Martha C. Piper
Don M. Wilson III
Janice M. Babiak
George A. Cope
Christine A. Edwards
Eric R. La Flèche
Philip S. Orsino
J. Robert S. Prichard
www.bmo.com/corporategovernance