Welcome!

News Feed Item

BMO Women's Day Study: Canadians Feel That the Financial Services Industry Has Made Progress in Addressing Women's Issues-But More Work Needs to Be Done

- Eighty-five per cent of Canadians feel the financial sector has made strides addressing gender equity issues in the last 20 years

TORONTO, ONTARIO -- (Marketwired) -- 03/07/14 -- Editors note: There is a photo associated with this press release.

While Canadians feel that the financial services sector has come a long way in the last 20 years in how it treats female employees and clients, addressing gender equity issues still needs to be a priority for the industry. This sentiment was found in the results of a new study from Wealth Management at BMO, released to mark International Women's Day on March 8.

The study found that 83 per cent of Canadians (including 79 per cent of women) feel that the financial services sector has become more equitable in the way it treats female employees compared to their male counterparts in the last 20 years.

Further, 85 per cent (83 per cent women) think that the industry is doing a better job of treating female clients more equitably over this same period.

However, despite this general perception that the financial services industry is making progress on gender related issues, the study found that Canadians believe more efforts are needed.

Women and Careers in Financial Services

With respect to female employees in financial services, the study found:

--  Fifty-five per cent of Canadians (62 per cent women) feel that there is
    still a 'glass ceiling' that hinders women from advancing their careers
    beyond a certain point.
--  Two-thirds of Canadians (two-thirds of women) said that men have more
    career opportunities than their female counterparts.
--  Eighty-seven per cent (89 per cent women) believe that the sector should
    be doing more to help female employees achieve a better work/home life
    balance.

"While our industry has definitely become more aware of some of the challenges female employees face and continues to address them, the job is by no means done," said Charyl Galpin, Co-Head, BMO Nesbitt Burns. "It's incumbent on both men and women to 'be the change' on a daily basis. Having HR policies which make it easier for women to pursue a career in financial services is an important step, but we all have a role to play in ensuring that gender equity is the norm in all workplaces."

Ms. Galpin noted that BMO Nesbitt Burns has a number of initiatives in place to encourage and support women in financial services. The firm is an active member of Women in Capital Markets, a non-profit organization that promotes the entry, advancement and development of women in the capital markets industry. Additionally, BMO Nesbitt Burns is a sponsor of the Women of Influence Luncheon Series, featuring high profile speakers who provide career advice within an environment for professional women to network, learn and grow.

Financial Services and Female Clients

Survey respondents were also asked questions related to how they felt female clients were treated by the financial industry:

--  Sixty-four per cent of Canadians (70 per cent women) believe that male
    clients are treated in a preferential way over female clients by the
    financial services industry.
--  Further, 67 per cent (74 per cent women) feel that men are taken more
    seriously by the sector.
--  Seventy-nine per cent of Canadians (81 per cent women) believe that,
    when a male-female couple meets with a financial professional, the
    employee tends to view the male client as the primary decision maker.

When asked about the financial services industry's treatment of women, 79 per cent of Canadians said they have a favourable perception of the sector. Financial services ranks behind the retail (88 per cent) and health services (89 per cent) industries, but ahead of the trade (42 per cent) and automotive (39 per cent) industries.

"There's lots of room for our industry to improve and enhance the way we interact with female clients," noted Myra Cridland, Head, BMO Harris Private Banking. "Not only is it the equitable and right thing to do, it also makes good business sense. Women currently control one-third of all wealth in North America - a number growing at a rate of eight per cent annually."

To support International Women's Day, BMO will be donating $2 to the Canadian Women's Foundation for each tweet and retweet of the #IWDBMO hashtag, up to a maximum of $10,000.

The survey was conducted online by Pollara with a sample of 1,009 Canadians from February 21 to February 24, 2014.

Get the latest BMO press releases via Twitter by following @BMOmedia

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $593 billion as at January 31, 2014, and more than 45,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.

To view the photo associated with this press release, please visit the following link: www.marketwire.com/library/20140306-bmo2014iwd800.jpg.

Contacts:
Media contacts:
Amanda Robinson, Toronto
416-867-3996
[email protected]

Valerie Doucet, Montreal
514-877-8224
[email protected]

Laurie Grant, Vancouver
604-665-7596
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant th...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.
Microsoft Azure Container Services can be used for container deployment in a variety of ways including support for Orchestrators like Kubernetes, Docker Swarm and Mesos. However, the abstraction for app development that support application self-healing, scaling and so on may not be at the right level. Helm and Draft makes this a lot easier. In this primarily demo-driven session at @DevOpsSummit at 21st Cloud Expo, Raghavan "Rags" Srinivas, a Cloud Solutions Architect/Evangelist at Microsoft, wi...
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...