Diversity Makes Good Business Sense says TD Bank Boss

Canadian corporations not only have a moral responsibility to embrace diversity in hiring, it makes good business sense.

By Madhavi Acharya-Tom Yew, Toronto Star

Canadian corporations not only have a moral responsibility to embrace diversity in hiring, it makes good business sense, the head of TD Bank Group says.

“Most progressive corporations understand that this is one of those instances where what you think is the right thing to do and what is in your business interest, cross over perfectly,” Ed Clark, president and chief executive officer of Toronto-Dominion Bank said in an interview.

Public companies have a responsibility to shareholders to hire the best and the brightest, and doing that in a country as multicultural as Canada means that inclusive hiring practices are a must, Clark said.

There are collateral benefits to hiring executives with diverse backgrounds and experience, Clark added. “Our chief accountant comes from Shanghai and he can provide insights on what’s happening in China. That’s a collateral benefit but he didn’t get the job for that reason.”

Clark was among the headlining guests at the fall conference of Ascend Canada on Wednesday.

The conference included executives from financial firms such as TD Bank, Royal Bank of Canada, as well as Deloitte, Ernst & Young, Manulife Financial, and Osler, Hoskin & Harcourt. The executives shared their perspectives on diversity and leadership in Canadian companies.

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