15:27:22 EDT Thu 25 Apr 2024
Enter Symbol
or Name
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SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2019-08-15 C$ 16.81
Market Cap C$ 2,951,066,976
Recent Sedar Documents

Globe says BMO chairman defends role batting for SNC

2019-08-16 08:45 ET - In the News

See In the News (C-BMO) Bank of Montreal

The Globe and Mail reports in its Friday edition that Bank of Montreal chairman Robert Prichard is defending his involvement in the political and legal fracas over SNC-Lavalin, saying he informed the bank of his activities. The Globe's James Bradshaw writes that Canada's fourth-largest bank was drawn into the controversy over the Trudeau government's handling of the SNC file after the federal Ethics Commissioner released a report Wednesday that found the Prime Minister broke the rules in directing government officials to find a solution to SNC's legal troubles. The report revealed two senior BMO officials, Mr. Prichard and vice-chairman Kevin Lynch, made multiple attempts to lobby cabinet minister Scott Brison to help SNC avoid a criminal prosecution. The two men met with Mr. Brison, who was Treasury Board president at the time, in October and November. Mr. Brison, in turn, conveyed their legal arguments and concerns over SNC to then-attorney-general Jody Wilson-Raybould, and to the Prime Minister's Office. In January, Mr. Brison announced he was quitting politics, and in February he joined BMO Nesbitt Burns. In pushing SNC's case, Mr. Prichard and Mr. Lynch sought to meet their obligations to SNC, rather than to BMO.

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