BMO signs major HR outsourcing deal

Arrangement will cut BMO’s HR department by half
By David Brown
|Canadian HR Reporter|Last Updated: 08/15/2005

A

second Canadian bank has signed a contract to outsource nearly half of its HR function.

In late April, BMO Financial Group signed a 10-year, $750-million HR outsourcing deal with California-based Exult, Inc. CIBC was the first to make such a move in June 2001, signing a seven-year, $227-million deal with EDS.