BMO Financial Group

BMO Financial Group
Dalhousie University

Dalhousie University

September 30, 2010 10:30 ET

BMO Commits $1.5 Million to Dalhousie's Centre for Family Business and Regional Prosperity

HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 30, 2010) - BMO Financial Group has committed $1.5 million in support of Dalhousie University's fundraising campaign to become a founding partner of Dalhousie University's Centre for Family Business and Regional Prosperity. Dr. Fred Fountain, Chancellor, announced the gift at the 3rd Annual Family Business Legacy Dinner held last evening at Dalhousie University with members of the Derek Oland family (Moosehead Breweries) in attendance as guests of honour. 

"Dalhousie University is in the leadership phase of its campaign. We are reaching out to some of our closest supporters to raise monies that will enable us to re-shape the way we offer higher education. Today's generous contribution from BMO is a leadership gift that demonstrates their understanding of the returns that the business community can realize by investing in Dalhousie University's future," said Tom Traves, President of Dalhousie University.

BMO's donation will provide operational and core funding for the Centre over the next seven years. In addition to the gift, BMO Financial Group has also provided support for the Faculty of Management to purchase and maintain a new digital business news and stock ticker display board in the atrium of the Kenneth C. Rowe Management Building.

"This innovative partnership with Dalhousie University once again demonstrates our commitment to family and small business," said Steve Murphy, Senior Vice President, Atlantic Provinces Division, BMO Bank of Montreal. With more than 13,000 business relationships and 27 per cent market share in small business lending in Atlantic Canada, we look forward to accompanying family businesses in their growth directly or through initiatives such as the Centre for Family Business and Regional Prosperity," added Mr. Murphy. 

The Centre has been established by the Dalhousie Faculty of Management to support family business in Atlantic Canada. The Centre will develop and deliver educational and training programs for families in business, their non-family employees and the professionals who serve those families. It will act as a resource and referral centre for family business and it will develop and deliver courses in family business in the Faculty's undergraduate and MBA programs. Working together with like-minded organizations such as CAFÉ and the other universities in Atlantic Canada, the Centre will provide families in business with tools and support to help them survive and thrive both as a business and as a family.

"Family business dominates the Atlantic Canadian business landscape. According to the Canadian Association of Family Enterprise (CAFÉ), family-run enterprises account for 50 per cent of all new jobs in Canada. The impact is even greater in Atlantic Canada," said Elaine Sibson, Executive Director of the Centre. "Supporting family business is important when you consider the findings of the Family Firm Institute. They show that the majority of family business owners would like to see their business transferred to the next generation, however it is estimated that 70 per cent will not survive into the 2nd generation and 90 per cent will not make it to the third generation."

"My colleagues and I at BMO Harris Private Banking work closely with successful Canadian families, offering comprehensive wealth planning services that include estate planning, philanthropic services, business transition and retirement planning," said Rick Thomson, Vice President, BMO Harris Private Banking, Atlantic Canada. "We see first hand the importance of planning for a family business transition, sale to management or to a third party, and believe that the Centre for Family Business and Prosperity will help provide families in business with valuable expertise and tools for a successful outcome both for themselves and our region."

"BMO has been a long supporter of Dalhousie University. They have also provided annual sponsorship of the first two Family Business Legacy Dinners. Their gift will have a tremendous impact on providing stable and sustainable funding for our Centre. It will allow the Centre to grow the number and quality of the programs, events and workshops offered to family businesses in the Atlantic region," said Sibson.

Dalhousie University's Faculty of Management, which includes programs in Business, Public Administration, Information Management, Marine Affairs and Resource and Environmental Studies, offers a holistic and values-based approach to management education and research. The Faculty's vision is to be the acknowledged centre of values-based management whose graduates become private sector, public sector and civil society leaders who manage with integrity, focus on sustainability and make things happen.

BMO Bank of Montreal opened its first branch in Nova Scotia in 1867 and now operates 26 branches in the province, while providing financing to over 5,000 Nova Scotia small businesses and financial support to leading education, health-care, cultural and not-for-profit institutions.

Contact Information

  • Media inquiries, contact:
    Colin Craig, Faculty of Management
    Dalhousie University
    Ronald Monet
    BMO Financial Group
    514.594.2501 or 514.877.1873