My 2 Sense My 2 Sense

My 2 Sense

Nobody wants to work at BMO


The troops evacuate a toxic workplace

Without Prejudice - May 12, 2012
Bill Downe
Have you ever noticed how often your local bank staff change? I've had 10 bank managers and probably 150 employees rotate in and out of my branch over the last 30 years. Why does this happen? The answer is simple, they don't give a shit about BMO because BMO doesn't give a shit about them.

Like most banks, BMO operates like a military government in a banana republic. In order for the president/emperor/king/sheik and his family and friends to remain in power, they reward the colonels handsomely. The colonels then keep the troops from deserting and the troops prevent the public from rioting.

Bill Downe and his crony capitalism boardroom buddies get the high six figures with bonuses, the head office executives get treated very well, and the branch managers and staff make enough to eat. No big deal. Just a case of business economics maximizing the ROIC on the shareholder's stock holdings.

Just last week, my bank manager quit the bank, along with his assistant, the branch investment person and two others. In one DAY five people quit a BMO branch to go to another bank. Doesn't take a rocket scientist to guess why. And who would blame them? Heartbreaking for me in that I had switched branches to follow this manager to his new branch because I respected him so much and now there is a temp manager in there and the place is chaos.

I imagine there was a minor shitstorm about this, probably at the regional level, cause Bill Downe is doing far more important work losing money playing the markets. But here I imagine would be the meeting scenario: The regional manager says, "Holy shit, the manager and 4 others quit the ABC Street branch in one day! What do we do?" Second in command replies, "Can we sue them?" Legal council, "No you idiot, this is a free country."

"Well can we fuck with their last cheques and holiday pay?" Legal council, "Nope. But what we do do, is make sure no one in that branch tells any customers anything. Hush this up. We don't want to look bad."

In one of my previous blogs about BMO I mention how this very same manager was blamed for doing nothing but seeing that his customer (me) was treated properly in a dispute over a rejected bridge financing loan. BMO like many large corporations operate as petty, vindicitive self-serving bastards who could care a less about their employees or their customers, despite their ridiculous ad campaigns to the contrary.

Well done, Bill, better ask the board for another bonus.

Just my opinion,

Courtney Smith

NOTE TO READER: If you have a complaint about something and write the bank, be sure to only use the real names of the bad guys. If you use the names of those good guys who clear up the mess and help you, the bank will go after them. The bank ALWAYS blames and shoots the messenger. It's how they avoid feeling bad for being fuckups.


IF you have the same problem with this as I do, feel free to email: info@my2sense.ca and we'll add your comments on this page. Feel free to write, email or phone BMO as well. comments@bmoinvestorline.com

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