Leading Canadian bank, Bank of Montreal (BMO), has announced that it will be constructing a new 350,000 square foot 'urban campus', set to open in 2021, as part of the companies ongoing digital transformation strategy.
Set to be built on site of Sears Canada's former Toronto head office, the facility will feature four floors, each with open plan workspaces containing the latest disruptive and advanced technologies.
"This urban campus is central to the business transformation that's underway at BMO,” said Darryl White, Chief Executive Officer, BMO Financial Group. “We're unified in our focus on the customer and now we're accelerating, moving ahead ready to capitalize on every advantage: our wealth of customer insights, the right investment in technology and the discipline to keep things simple.”
BMO will use the facility to further bolster its presence in Toronto, having also having extended the lease at its First Canadian Place headquarters for a further 15 years, in aim of attracting the city's top financial and technological talent.
Cadillac Fairview, the owner of the current mall, will work in collaboration with BMO to design the campus, whilst also investing $200mn into its development.
"Cadillac Fairview is excited about the opportunity to collaborate with BMO to envision and design this exciting re-imagining of work space," said John Sullivan, President and CEO, Cadillac Fairview. "With CF Toronto Eaton Centre as its home, BMO's urban campus will stand out as a vibrant environment to stimulate bold ideas, foster new ways of working, and ultimately attract the best talent."
Once operational, the campus will house 3,500 employees, in addition to its own public transportation network and a range of entertainment and retail facilities.