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BMO LIFE ASSURANCE CEO SUED BY ADVISOR

BMO Life Assurance CEO Peter McCarthy is being sued by David Hébert, formerly the vice-president of business development at BBA Groupe Financier and now a vice-president at Canaccord Financial.

Hébert alleges BMO executives caused his demotion and eventual termination from BBA Groupe Financier, an MGA in Montreal. Hébert has filed email exchanges between BMO Life Assurance executives, including its CEO, with the court; Hébert alleges that these emails defamed him and cost him his job. BMO Life Assurance did not comment on the story, but through its lawyer, BMO Life Assurance denied the allegations, saying it “vigorously opposed” the allegations and consider them “unfounded.” The allegations have not been proven in court.

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