Bank of Montreal's Board of Directors consists of 15 independent directors as defined in the Standards for Directors and one management director, namely President and CEO William Downe.
David A. Galloway — Toronto, Ontario — Chairman of the Board
Director since:
February 24, 1998
Committee membership:
Governance and Nominating Committee; Human Resources and Management Compensation; Risk Review Committee *; Audit Committee * ; The Pension Fund Society of Bank of Montreal *
David Galloway, 65, is Chairman of the Board of Bank of Montreal, having been appointed to this position effective May 1, 2004. He was President and Chief Executive Officer of Torstar Corporation from 1988 to 2002. He is a director of Harris Financial Corp. (a Bank of Montreal subsidiary) and a member of its Risk Oversight Committee. Mr. Galloway has a B.A. (Hons.) in political science and economics from the University of Toronto and an M.B.A. from Harvard Business School.
Public Board Membership During the Last Five Years
* During fiscal 2008, Mr Galloway was an ex officio (non-voting) member of the Audit Committee, Risk Review Committee, and the Pension Fund Society of the Bank of Montreal
William A. Downe — Toronto, Ontario — President and CEO
Director since:
March 1, 2007
Committee membership:
Audit Committee * ; Governance and Nominating Committee * ; Human Resources and Management Compensation * ; Risk Review Committee *
Bill Downe, 56, is President and Chief Executive Officer of BMO Financial Group. Prior to March 1, 2007, he was Chief Operating Officer, with responsibility for all of BMO’s operating units including the Personal and Commercial Client Group, Investment Banking Group, Private Client Group, Technology and Solutions and Corporate Marketing. Prior to that, Mr. Downe served four years as Deputy Chair, BMO Financial Group and Chief Executive Officer, BMO Nesbitt Burns, a role in which he oversaw the Investment Banking Group, the Private Client Group and BMO Financial Group’s operations in the U.S. In over two decades with the Bank, he has served in several capacities. Mr. Downe serves on the Board of Directors of BMO Nesbitt Burns Corporation Limited and Harris Financial Corp. (both subsidiaries of the Bank) and St. Michael’s Hospital. Mr. Downe holds an M.B.A. from the University of Toronto.
Mr. Downe has not held any public board memberships during the last five years
*During fiscal 2008, Mr. Downe attended Committee meetings, in full or in part as appropriate, as an ex officio (non-voting) member at the request of the Committees
Human Resources and Management Compensation Committee (Chair);
Governance and Nominating Committee; Risk Review Committee;
Bob Astley, 64, a Corporate Director, is the former President and Chief Executive Officer of Clarica Life Insurance Company, a life and health insurance company headquartered in Waterloo, Ontario, and former President of Sun Life Financial Canada, comprising the Canadian life and health insurance and wealth management operations of Sun Life Financial Inc. In 1999, as President and Chief Executive Officer of Mutual Life of Canada, he led the organization and its stakeholders through demutualization, an initial public offering and a corporate name change to Clarica Life Insurance Company. With the combining of the operations of Clarica and Sun Life Financial Services of Canada Inc. in 2002, Mr. Astley was appointed President of Sun Life Financial Canada, a position he held until his retirement in September 2004. Mr. Astley is a Chairman and director of the CPP Investment Board and a member of the Dean’s Advisory Council of the School of Business and Economics at Wilfrid Laurier University. He graduated from the University of Manitoba with an Honours degree in Science and is a Fellow of the Canadian Institute of Actuaries.
Public Board Membership During the Last Five Years
Human Resources and Management Compensation Committee *; Risk Review Committee
David Beatty, 66, is Chairman and Chief Executive Officer of Beatinvest Limited, a holding company, and is the former Chairman and Chief Executive Officer of Old Canada Investment Corporation Limited, an investment management company. Mr. Beatty is the former Managing Director of the Canadian Coalition for Good Governance, an organization that represents 50 pension funds, mutual funds and money managers with over $1 trillion in assets under management. He is Professor of Strategic Management and Director of the Clarkson Centre for Business Ethics and Board Effectiveness at the University of Toronto’s Rotman School of Management. Mr. Beatty is Honorary Consul to Canada for the Government of Papua New Guinea and in 1993 was awarded the O.B.E. A graduate in economics from the University of Toronto (Trinity College), he was a Nuffield Scholar at the University of Cambridge (Queens’ College) where he obtained an M.A.
Public Board Membership During the Last Five Years
FirstService Corporation
Inmet Mining Corporation
Husky Injection Molding Systems Ltd.
Garbell Holdings Limited
Goldcorp Inc.
Thistle Mining Inc.
2001 – Present
2003 – Present
2004 – 2007
1995 – 2006
1994 – 2006
1998 – 2005
* Effective March 4, 2008,Mr. Beatty was appointed to the Human Resources and Management Compensation Committee and ceased to be a member of the Audit Committee.
Audit Committee; The Pension Fund Society of the Bank of Montreal Board (Chair)
Robert Chevrier, 65, is President of Société de gestion Roche Inc., a management and investment company. He was formerly Chairman and Chief Executive Officer of Rexel Canada Inc. He is a graduate of Concordia University and is a Fellow of the Institute of Chartered Accountants.
Public Board Membership During the Last Five Years
Cascades Inc.
CGI Group Inc.
Compagnie de Saint-Gobain
George Cope, 47, is President and Chief Executive Officer of BCE Inc and Bell Canada, focused on driving profitable growth, enhancing customer service and delivering leading communications products to Bell’s national marketplace. Prior to joining Bell Canada in 2005, Mr. Cope was President and Chief Executive Officer of national wireless carrier TELUS Mobility since 2000. Previously, he served as President and Chief Executive Officer of national wireless carrier Clearnet Communications for 13 years. Mr. Cope serves on the Advisory Board of the Richard Ivey School of Business at the University of Western Ontario. A past recipient of Canada’s Top 40 Under 40 Award, Mr. Cope holds a Business Administration (Honours) degree from the University of Western Ontario.
Public Board Membership During the Last Five Years
Human Resources and Management Compensation Committee; Audit Committee
Ron Farmer, 58, is Managing Director of Mosaic Capital Partners, a Toronto-based holding company with interests in several private companies. Prior to joining Mosaic in 2003, he spent 25 years with McKinsey & Company, serving as the Managing Partner for the Canadian practice from 1991 to 1997 and as a Senior Director from 1998 until his retirement in December 2002. Mr. Farmer is a director of the following non-public companies: Integran Technologies Inc. and PowerMetal Technologies, Inc. He holds a B.A. and an M.B.A. from the University of Western Ontario.
Mr. Farmer has not held any public board memberships during the last five years
Harold Kvisle, 56, is President and Chief Executive Officer of TransCanada Corporation, a leading North American energy company focused on natural gas transmission and power generation. He joined TransCanada in 1999 as Executive Vice-President, Trading and Business Development and was appointed to his current position in April 2001. He holds an M.B.A. from the University of Calgary and a B.Sc. (Eng.) from the University of Alberta.
Public Board Membership During the Last Five Years
TransCanada Corporation
TransCanada PipeLines Limited
Catalyst Paper
LimitedPrimeWest Energy Inc.
Norske Skog Canada Ltd.
TransCanada Power, L.P.
2001 – Present
2001 – Present
1997 – 2005
1996 – 2008
1997 – 2005
1999 – 2005
* Effective March 4, 2008, Mr. Kvisle was appointed to the Risk Review Committee and ceased to be a member of the Human Resources and Management Compensation Committee.
Governance and Nominating Committee; Risk Review Committee (Chair);
Bruce Mitchell, 62, is President and Chief Executive Officer of Permian Industries Limited, a Toronto-based management and holding company with interests in the North American food processing and technology industries. Mr. Mitchell is a member of the Board of Trustees and a Councillor of Queen’s University, is on the Board of Gardiner Group Capital, is Vice-Chair of the Canadian Institute for Advanced Research and has served on the Board and executive committees of Ridley College and UNICEF Canada. He holds a B.Sc. from Queen’s University and an M.B.A. from Harvard University.
Public Board Membership During the Last Five Years
Philip Orsino, 54, a Corporate Director, is the former President and Chief Executive Officer of Masonite International Corporation (formerly Premdor Inc.), an integrated global building products company with operating facilities in North America, South America, Europe, Asia and Africa. Mr. Orsino is an active volunteer and is involved in many community activities. He currently serves as Chairman of the Board of Trustees of the University Health Network. A published author, Mr. Orsino was appointed an Officer of the Order of Canada in 2004, was the recipient of the 2003 Canada’s Outstanding Chief Executive Officer of the Year Award, received the University of Toronto’s Distinguished Business Alumni Award for 2002 and won the 1998 Entrepreneur of the Year Award for Manufacturing sponsored by Ernst & Young International.
Public Board Membership During the Last Five Years
Clairvest Group Inc.
Masonite International Corporation
1998 – Present
1989 – 2005
* During fiscal 2008, Mr. Orsino was an ex officio (non-voting) member of the Risk Review Committee.
Human Resources and Management Compensation Committee; Audit Committee
Dr. Martha C. Piper, 63, a Corporate Director, was President and Vice-Chancellor of The University of British Columbia from 1997 to June 2006. Prior to this, she was Vice-President Research and External Affairs at The University of Alberta. She has served on the Board of the Advisory Council on Science and Technology, the British Columbia Progress Board and the National University of Singapore Council. In 2001, she served as Campaign Chair of the United Way of the Lower Mainland. Dr. Piper is an Officer of the Order of Canada and a recipient of the Order of British Columbia. She was named Educator of the Year by the Learning Partnership in 2004 and was recently appointed a member of the Trilateral Commission.
Public Board Membership During the Last Five Years
J. Robert S. Prichard, O.C., O.Ont. — Toronto, Ontario
Director since:
July 18, 2000
Committee membership:
Human Resources and Management Compensation Committee; Governance
and Nominating Committee (Chair)
J. Robert S. Prichard, 59, is President and Chief Executive Officer and a Director of Metrolinx. Metrolinx is the regional transportation agency and operator for the Greater Toronto and Hamilton Area (GTHA). Before joining Metrolinx in May 2009, he served as President and Chief Executive Officer of Torstar Corporation, a leading Canadian media company. Mr. Prichard is also President Emeritus of the University of Toronto where he previously served as dean of law and as a professor specializing in law and economics. He also serves as Chairman of the Visiting Committee of Harvard Law School, Vice-Chair of Canada’s Science, Technology and Innovation Council and a director of the Toronto Community Foundation. He studied honours economics at Swarthmore College, received his M.B.A. from the University of Chicago and earned law degrees at the University of Toronto and Yale University. He is an Officer of the Order of Canada, a Member of the Order of Ontario and a Fellow of the Royal Society of Canada.
Public Board Membership During the Last Five Years
Audit Committee; The Pension Fund Society of the Bank of Montreal Board
Jeremy Reitman, 63, is President, Chief Executive Officer and a director of Reitmans (Canada) Limited, a retailing company. He is also Governor Emeritus of McGill University. Mr. Reitman studied at Dartmouth College, Hanover, New Hampshire (A.B.) and McGill University (B.C.L.).
Public Board Membership During the Last Five Years
Reitmans (Canada) Limited
1975 – Present
* Effective March 4, 2008, Mr. Reitman was appointed to the board of directors of The Pension Fund Society of the Bank of Montreal and ceased to be a member of the Risk Review Committee.
Guylaine Saucier, 62, a Corporate Director, is a former Chairman of the Board of Directors of the Canadian Broadcasting Corporation, a former director of the Bank of Canada, a former Chair of the Canadian Institute of Chartered Accountants (CICA), a former director of the International Federation of Accountants, and was Chair of the Joint Committee on Corporate Governance established by the CICA, the Toronto Stock Exchange and the Canadian Venture Exchange, and was also the first woman to serve as President of the Quebec Chamber of Commerce. She serves as a director of the Fondation du Musée des Beaux Arts. Mme Saucier obtained a B.A. from Collège Marguerite-Bourgeois and a B.Comm. from the École des Hautes Études Commerciales, Université de Montréal. She is a Fellow of the Institute of Chartered Accountants and a Member of the Order of Canada. In 2004, she received the Fellowship Award from the Institute of Corporate Directors and in 2007, she obtained the Institute Certified Designation from the Institute of Corporate Directors.
Public Board Membership During the Last Five Years
Areva
Petro-Canada
CHC Helicopter Corp. Altran Technologies SA
Nortel Networks Corporation
Tembec Inc.
2006 – Present
1991 – Present
2005 – 2008
2003 – 2007
1997 – 2005
1991 – 2005
* Effective March 4, 2008, Mme Saucier was appointed to the Risk Review Committee and ceased to be a member of the board of directors of The Pension Fund Society of the Bank of Montreal.
Risk Review Committee, The Pension Fund Society of Bank of Montreal
Nancy Southern, 52, is President and Chief Executive Officer of ATCO Ltd. and Canadian Utilities Limited and a director of both corporations. ATCO Group is an Alberta-based corporation with companies actively engaged in power generation, utilities, logistics and energy services, industrials and technologies. Ms. Southern was born and raised in Calgary and has been involved in many community endeavours. She is Executive Vice-President of Spruce Meadows, renowned as one of the world’s finest show jumping facilities.
Public Board Membership During the Last Five Years
AkitaDrilling Ltd.
ATCO Ltd. (Deputy Chair)
Canadian Utilities Limited (Deputy Chair)
Risk Review Committee; Human Resources and Management Compensation Committee;
The Pension Fund Society of the Bank of Montreal
Don Wilson, 60, a Corporate Director, retired from JP Morgan Chase & Co. in 2006 as Chief Risk Officer with responsibility for credit, equity, market, and operational risk globally. Mr. Wilson was also a member of JP Morgan’s Executive Committee and Operating Committee. Mr. Wilson graduated from Harvard University in 1970 (AB cum laude) and from the Tuck School at Dartmouth College in 1973 (M.B.A.).
Mr. Wilson has not held any public board memberships during the last five years
* Mr. Wilson was appointed to the Board of Directors effective March 28, 2008. Effective April 22, 2008, Mr. Wilson was appointed to the Risk Review Committee.
