University of British Columbia law
professor Cristie Ford says BMO's for- malizing of relationships makes sense. She says it shifts the exposure of the bank's in-house gatekeepers on the job. "It reduces their liability. By formal- izing it, it gives BMO a lot of comfort that someone has assumed professional responsibility." It also allows outside firms "to play a useful role" in working
with the bank's in-house team. In the end, Fish says, BMO's move
is part of a culture shift in the bank- ing community. "There has been a shift in the regulatory environment over the last couple of years which, [in and] of itself, has given rise to height- ened expectations from regulators, more demands from boards of direc- tors and shareholders," he explains.
MacKinnon agrees, saying banks used to worry about the upfront costs of dealing with issues such as risk management. "Now, given that you factor in the risk and how big losses can be, it's more a question of value," he says. Fish concurs. "Risk management is even now more central to everything we do as bankers. Risk-management culture is central to this new environment." IH
New economy. New demands. Proven value.
Meritas law firms: a world of confidence Seeking a safe alternative when evaluating your legal resources? Next door or halfway around the world, Meritas law firms are carefully qualified, offering you partner-led service, local knowledge, local rates — and peace of mind.
Connect with Meritas law firms across Canada 12 full-service, independent law firms Local representation in 13 provinces/territories 500 experienced lawyers
Call or connect online today +1 (612) 339-8680 • www.meritas.org/canada
MERITAS
Boughton Law Corporation www.boughton.ca
Vancouver, BC • Whitehorse, YT 604.687.6789 • 867.456.7811
McLennan Ross LLP www.mross.com
Edmonton • Calgary, AB 780.482.9200 • 403.543.9120
Yellowknife, NT • 867.766.7677 Balfour Moss LLP
www.balfourmoss.com Regina • Saskatoon, SK 306.347.8300 • 306.665.7844
PITBLADOLLP www.pitblado.com Winnipeg, MB 204.956.0560
Harrison Pensa LLP
www.harrisonpensa.com London, ON 519.679.9660
Minden Gross LLP
www.mindengross.com Toronto, ON 416.362.3711
BrazeauSeller.LLP
www.brazeauseller.com Ottawa, ON 613.237.4000
BCF LLP www.bcf.ca
Montréal • Québec City, QC 514.397.8500 • 418.266.4500
Ottenheimer | Baker
www.ottenheimerbaker.com St John's, NL 709.722.7584
Wickwire Holm INHOUSE OCTOBER 2010 •
www.wickwireholm.com Halifax, NS 902.429.4111
39 Matheson & Murray
www.mathesonandmurray.com Charlottetown, PE 902.894.7051
Barry Spalding Lawyers/Avocats
www.barryspalding.com Moncton • Saint John, NB 506.388.4226 • 506.633.4226
