BMO Named One of Canada's Best Employers for New Canadians for Third Consecutive Year

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Partnership with ACCES Employment to roll out a national Speed Mentoring program: Example of important initiatives that enhance employment and career opportunities for immigrants.

TORONTO, ONTARIO--(Marketwire - March 28, 2011) - BMO Financial Group has been named one of Canada's Best Employers for New Canadians by Mediacorp Inc.
"This award is a reflection of BMO's longstanding commitment to fostering diversity, equity and inclusion in our workforce, and to creating a work environment in which all employees can truly reach their full career potential," said Sonya Kunkel, Director, Diversity and Inclusion, BMO Financial Group.
"Skilled newcomers bring vast knowledge, experience, creativity, and innovation to the Canadian workforce and it is incumbent upon every employer to do everything they can to open their doors to this talented pool of skilled professionals," she added.
Judges took particular note of the seminal work BMO has undertaken with ACCES Employment to introduce a nationwide Speed Mentoring program. The program gives newcomers opportunities to network with established professionals in their fields of expertise. BMO is the exclusive industry sponsor.
Already, more than 1,900 immigrants have benefitted from contacts established through Speed Mentoring sessions. Overall, ACCES has an 80 per cent success rate in helping new Canadians enter the workforce.
"Our first year of Speed Mentoring in partnership with BMO Financial Group has been extremely successful," said Allison Pond, Executive Director, ACCES Employment. "Together, we are helping new Canadians meet professionals and expand their networks. These connections are vital in helping newcomers successfully integrate into their fields. The tremendous response from both mentors and mentees provides us with the opportunity to share Speed Mentoring, with organizations doing similar work across the country, so that more new Canadians can benefit from Speed Mentoring and accelerate their success."
"We do this not just because it is the right thing to do for the bank and for our customers, but because it is also the right thing to do for our communities," said Ms Kunkel.
NOTE: UPCOMING SPEED MENTORING EVENT
BMO is holding its next Speed Mentoring event at the bank's new Customer Contact Centre in Mississauga, Ontario on April 15, 2011, between 2:00-4:00 pm. The event will pair mentees interested in call centre careers with BMO mentors working at the bank's new contact centre. Media are welcome to attend:

	Meadowvale CCC
	2465 Argentia Road,
	Mississauga, L5N 0B4

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P.E.I. business community opens arms to immigrants

Image via WikipediaBy Dave Steward on The Guardian
Prince Edward Island’s business community opened its arms on Wednesday to welcome more than 200 Chinese Islanders in the first-ever Chinese Islanders Business Summitt.
The summit was designed to give newcomers a chance to learn about operating a business in Canada and provide an opportunity for matchmaking between new Islanders from the Chinese-Canadian community and members of the established Island business community.
Sherry Huang, a business operator and president of the P.E.I. Chinese Association, said the transition for Chinese immigrants is much smoother now than it was when she arrived seven years ago.
“Prince Edward Island has a vibrant business community,’’ Huang said. “This is a great opportunity to meet and get to know opportunities.’’
Premier Robert Ghiz said one of the more exciting parts of the summit was the chance for everyone to network.
“By bringing together new Chinese Islanders with business people interested in selling or expanding their businesses we can open up the Island business environment to new participants and get new resources,’’ Ghiz said. “I do believe there are opportunities for our new Islanders to work with existing businesses here on Prince Edward Island.’’
Jamie Brown, who owns Brown’s Volkswagen, said he knows first-hand how valuable Chinese Islanders have been to the local economy.
Since purchasing the dealership six years ago, he’s doubled the number of new models each month on his lot and sales have skyrocketed.
“Why? Because of Chinese immigrants,’’ Brown said.
“There is absolutely no doubt in my mind our economy did not participate in the recession due to the dollars spent by our Chinese immigrants.’’
Brown said not only has the dealership set a new sales record every year but it has also tripled its market share. Brown even hired one of his customers after finding out the Chinese man was a factory-trained technician.
Mike May, with the Bank of Montreal in Charlottetown, said his branch has added the Chinese language to its automated teller machine, website and has hired two Chinese employees since 2010.
“And that led to a huge increase in traffic flow,’’ May said.
Craig Mackie, executive director of the P.E.I. Association for Newcomers to Canada, said the numbers of Chinese immigrants and interest made an idea like a summit important.
“They’re looking for opportunities here and that’s why we set this up,’’ Mackie said

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BMO Announces Sponsorship of ACCES Employment's Speed Mentoring(R) Initiative

Image via Wikipedia BMO Financial Group and ACCES Employment have announced that BMO has become sponsor of the Speed Mentoring(R) program, a program designed to assist immigrants to Canada in entering the workforce in their areas of expertise.
Speed Mentoring(R) involves a group of employees - mentors - from a leading company meeting with new Canadian job seekers. Such meetings offer immigrants an opportunity for getting inspired, making connections, being coached and motivated. An innovative solution to the barrier that newcomers experience given their lack of a professional network, Speed Mentoring(R) has provided over 1600 newcomers in Toronto with the opportunity to meet and connect to professionals in their fields since 2006. With the help of this sponsorship, the program will be able expand to cities nationwide, including Montreal, Vancouver, Calgary and Halifax.
"BMO's support of ACCES Employment's Speed Mentoring(R) initiatives is helping talented new Canadians make professional connections and find employment in their field of expertise," said Allison Pond, Executive Director, ACCES Employment.
"As Canada's first bank, BMO has a long and proud history serving the financial needs of new Canadians," said Frank Techar, President and Chief Executive Officer, Personal and Commercial Banking Canada. "We first came to know ACCES through the United Way Toronto's Days of Caring. Our team volunteered with in the Speed Mentoring program. Each of us met one-on-one for ten minutes with each jobseeker. The Speed Mentoring program is a win-win, providing each job seeker with great networking and employers with a rich source of incredibly talented people."
About BMO Financial Group
Established in 1817, BMO Financial Group is highly diversified. BMO works with millions of personal, commercial, corporate and institutional customers through its operating groups: Personal and Commercial Banking Canada, Personal and Commercial Banking U.S., Private Client Group and BMO Capital Markets. BMO employees are dedicated to making BMO the bank that defines great customer experience.
About ACCES Employment
ACCES Employment is a leader in connecting employers with qualified candidates from diverse backgrounds. More than 15,000 job seekers are served annually at five locations across the Greater Toronto Area. As a not-for-profit charitable corporation, ACCES receives funding from all levels of government, corporate sponsors, various supporters and the United Way Toronto.

ACCES Employment:
Shawn Mintz
(416) 921-1800 begin_of_the_skype_highlighting              (416) 921-1800      end_of_the_skype_highlighting
smintz@accesemployment.ca
www.accestrain.com

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Chinese 'investor immigrants' inject big bucks in Canada as numbers keep rising

Image by swisscan via Flickr

Billions of yuan may be transferred to Canadian banks every year from China after the media reported that Chinese are now the top seekers of permanent residency in the North American nation.

In 2009 alone, Canada admitted more than 25,000 permanent residents from the Chinese mainland. Around 2,000 applicants moved there after being wooed by Canada's immigration policies for overseas investors, which require a minimum net personal worth of C$800,000 ($771,395) and investment of C$400,000.

Both before and after arrival in Canada, applicants can transfer at least C$500,000 to Canadian banks for living expenses, according to sources familiar with the immigration industry.

Total yuan deposits in Canada may reach 6.7 billion yuan this year if another 2,000 Chinese investor immigrants enter Canada in 2010.

"This is a conservative estimate because when applicants declare they have C$800,000 (5.33 million yuan) in net assets, they may actually have more than 10 million yuan," said Gary Cai, the former China chief representative of Canadian Imperial Bank of Commerce (CIBC).

Cai said some Chinese applicants are on the Forbes list of the world's wealthiest individuals, and estimating their net transfers out of China would not be easy.

Five major Canadian banks, including Canadian Imperial Bank of Commerce, Royal Bank of Canada and Bank of Montreal, have established personal banking departments in China since 2000, providing services devoted to investor immigrants.

"It's an open secret that banks always love the rich and despise the poor," Cai said. "In the China-based offices of those Canadian banks, business with investor immigrants is always the most important."

The number of investor immigrants going to Canada is rising every year, from 5 percent of total applicants in 2000 to around 25 percent now, Cai added.

In order to track and contact more potential clients, Canadian banks take part in promotional fairs held by immigration agencies.

Cai, who was involved in Canada's personal banking business between 2005 and 2009, said he spent more than 30 weekends a year attending promotional fairs.

Besides receiving processing fees to transfer assets abroad, Canadian banks often aim to find more profitable long-term businesses.

"Banks pay a lot of attention to the period after investor immigrants have successfully landed in Canada," Charles Qi, chairman of Beijing Entry and Exit Service Association, said.

When Chinese investor immigrants arrive, they may deposit money in local banks, purchase loans to buy new houses and cars, and ask banks to take care of their assets. These services create considerable profits for Canadian banks.

Hu Lin, manager of a Beijing-based rack manufacturer, plans to become an investor immigrant in Canada this year.

"I will choose Canadian banks while my immigration is being processed. Firstly, if you use them to transfer money, they charge lower fees than domestic banks - probably 20 percent lower. Secondly, once you arrive in Canada and have a local bank account, it is a lot more convenient because of their network of branches," Hu said.

Source:China Daily

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