BMO Financial Group

BMO Financial Group
University of New Brunswick

February 08, 2011 15:00 ET

Largest Ever Gift by BMO in Atlantic Canada

BMO Financial Group Directs $1.75 Million to Student Programs at the University of New Brunswick

FREDERICTON, NEW BRUNSWICK--(Marketwire - Feb. 8, 2011) - BMO Financial Group is making a major investment in higher education in New Brunswick with the announcement of a $1,750,000 gift to the University of New Brunswick. The largest single donation ever made in Atlantic Canada by BMO is also the single largest gift received by UNB from a corporate donor. The 10-year commitment will support student projects on UNB campuses in Fredericton and Saint John.

"This is a tremendous investment in higher education in our province from an internationally respected Canadian business," said Eddy Campbell, president and vice-chancellor of the University of New Brunswick. "UNB has enjoyed a business relationship with BMO Financial that goes back for more than a century, a distinction that speaks to the depth of the contributions of two iconic Canadian institutions."

"A healthy and innovative higher education system is of great value for recruitment and development in Canadian business," continues Campbell. "Today's gift sets a new standard for corporate support of discovery and excellence at UNB."

"BMO is proud to support Canada's oldest English language university as it strives to provide an exceptional and transformative student experience while leading in discovery, innovation and entrepreneurship," said Steve Murphy, Senior Vice-President, Atlantic Provinces Division, BMO Bank of Montreal. 

One million dollars from the BMO gift will be directed to UNB's Varsity Reds men's and women's soccer program and related scholarships. The targeted funding will help to further develop excellence on the field and in the classroom for UNB's Varsity Reds athletes. The Varsity Reds soccer program will compete at the newly named BMO Centre at UNB, further reinforcing BMO's position as a leader in soccer development in Canada.

"My colleagues and I at BMO are excited about our enhanced partnership with UNB, and we look forward to cheering on the UNB Varsity Reds who will be playing at the BMO Centre and students who will be competing at the annual UNB Business Plan Competitions," added Christine Cooper, Vice-President, New Brunswick & PEI District, BMO Bank of Montreal.

BMO is committing $500,000 to support the further development of UNB Fredericton's Faculty of Business Administration's Business Plan Competitions. Already one of the most respected in the region, the faculty is looking forward to raising the bar even higher for participants from across Canada and around the world.

The commitment will also provide $250,000 to fund the BMO Financial Group Smart Classroom in the University Commons on the Saint John campus. This support will help complete the University Commons project, a signature new building at the heart of the campus's renewal.

Founded in 1817, BMO Bank of Montreal opened its first branch in New Brunswick in 1867 and now operates 24 full-service branches in the province. BMO provides financing to more than 3,700 commercial entities in New Brunswick for a total of more than $1.6 billion while supporting leading education, health-care, cultural and not-for-profit institutions through donations and sponsorships.

Established in 1785, UNB is one of the oldest public universities in North America. More than 11,000 full- and part-time students from more than 100 countries are studying on campuses in Fredericton and Saint John and several thousand more take UNB courses online and at partner institutions around the world. As the largest research institution in New Brunswick, UNB conducts more than 75 per cent of the province's university research. The university has an annual operating budget of more than $165 million and employs more than 3,500 faculty, staff and students.

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