Our strategy of expanding selectively and strategically  is working, allowing us to build upon our existing strengths. Expansion in recent years gives us a presence in many of the affluent, fast-growing markets in the United States and complements our national distribution in Canada. Our focus now is on executing our strategy, leveraging our acquisitions to meet our financial performance objectives and delivering results that reach our financial targets. In recent years, we have created an organization that is differentiated as much by the synergies that exist between its complementary businesses as by the uniqueness of its parts.  That greater alignment has enabled us to leverage our rep- utation as a trusted advisor. We have in place the breadth of offering and the organizational infrastructure to provide our clients with products and services that are tailored  to their objectives. We can meet people’s financial needs whether they want to build a business, develop a retirement plan or put their kids through school. We have the desire – and the ability – to serve people exceedingly well. That’s always been the secret behind companies that have suc- ceeded in creating great value over a long period of time. We have clear strategies in each of our businesses, and we are dedicated to the successful execution of those strate- gies. To achieve our objectives, the vital role of people must be fully considered in all our strategic  decision- making and implementation plans. With that in mind, we have focused our people strategies on three objectives. We want to make sure that we have top talent in our key roles and throughout our organization.  We want to create a high-performance culture, one whose effectiveness we can measure. And we want to foster an engaged and motivated workforce. Despite the uncertain markets of recent years, the  outlook for the wealth management business is very favourable. Our long-standing experience and our recent expansion position us to benefit from the substantial growth we expect. The largest ever demographic group, the baby boom gener- ation, is shifting from consumption to savings, providing significant opportunities for growth in financial services over the next two decades. More than a century of experi- ence in full-service investing and private banking, as well as our leading position in direct investing, give us a solid foundation in the wealth management business. BMO FINANCIAL GROUP ANNUAL REPORT 2002 5 GILLES G. OUELLETTE President and Chief Executive Officer, Private Client Group, BMO Financial Group  and Deputy Chair, BMO Nesbitt Burns ROSE M. PATTEN Executive Vice-President, Human Resources  and Head, Office of Strategic Management WILLIAM A. DOWNE Deputy Chair, BMO Financial Group  and Chief Executive Officer, BMO Nesbitt Burns 