6 bankers leave Bank of Montreal after misconduct probe into bullying
Four were fired, two resigned
Six people have left Bank of Montreal after an investigation into “completely unacceptable” behaviour in its investment banking group.
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The Toronto-based bank launched a probe after a young male banker raised concerns about harassment and bullying, the Globe and Mail said. The newspaper reported that the person, who worked in the bank’s mining and metals group, was subjected to homophobic slurs in person and online.
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“An employee escalated a complaint that alleged completely unacceptable behaviour. We take matters of misconduct very seriously. An investigation was launched immediately. Six individuals are no longer with the bank,” spokesperson Kelly Hechler said in an email.
Four of the six were fired and two resigned, the Globe said, citing a person familiar with the matter it didn’t identify. The report also said five of the six employees were junior bankers in the mining group and the other was a director who supervised them.
In a memo circulated to staff last week, BMO Capital Markets chief executive Alan Tannenbaum said the bank should be an inclusive environment where all employees feel safe, and that inappropriate behaviour won’t be tolerated, according to a person familiar with the matter.
The consequences are serious and staff should speak up when something seems wrong, Tannenbaum added in the note.
“All employees attest to and are expected to meet our standard of respect, inclusivity and professionalism,” Hechler said. “Breaches of this standard are not tolerated and are subject to disciplinary actions up to and including termination of employment.”
Bloomberg.com
