BMO [mining] bankers terminated after allegations of homophobic harassment – by Niall McGee, Stefanie Marotta and Eric Reguly (Globe and Mail – January 25, 2024)

Bank of Montreal late last week terminated four mining bankers in Toronto and another two resigned after allegations of bullying and harassment of a colleague, four sources told The Globe and Mail, behaviour the bank is calling “completely unacceptable.”

The targeted individual was a young male investment banker in the Toronto office of BMO’s mining group. The individual was subject to homophobic slurs, and targeted both in person and virtually on Teams chats, the sources said. The Globe is not identifying the sources because they were not authorized to speak publicly.

While BMO declined to comment on the specifics of the alleged harassment of the victim, the bank acknowledged a serious incident took place. BMO said the victim raised concerns, and that the bank terminated a number of individuals who allegedly engaged in the behaviour, after an internal probe.

“An employee escalated a complaint that alleged completely unacceptable behaviour,” John Fenton, head, media relations with BMO, wrote in a statement to The Globe.

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