Today, Scotiabank and MD Financial Management Inc. (MD), in collaboration with the Canadian Medical Association (CMA), are announcing a $1 million commitment over five years in support of the Black Physicians' Association of Ontario (BPAO). The funding will advance the BPAO’s efforts to champion equitable representation and promote the wellbeing of Black physicians across the province and throughout Canada.
“Scotiabank is deeply committed to advancing diversity and inclusion in the communities in which we live and work,” says Glen Gowland, Group Head, Global Wealth Management at Scotiabank. “We are pleased to support BPAO’s important work to advance the representation of Black Ontarians in the field of medicine and to eliminate racialized health disparities, for every future.”
BPAO’s mission is to cultivate an active and engaged network of training and practising Black physicians, provide opportunities for professional development and improve health outcomes for Black Ontarians.
“The wellbeing of physicians is a key pillar of the quality of healthcare in Canada and we recognize that more must be done, especially for groups confronting inequities,” says Daniel Labonté, President and CEO of MD. “We are proud to support the work of BPAO and are confident their efforts will help build more inclusive physician communities, and in turn, better the quality of healthcare for all Canadians.”
“While we strive to build a healthcare system that truly meets the needs of all Canadians, currently our reality falls short of this aspiration,” says Dr. Ann Collins, President of the Canadian Medical Association. “Systemic racism continues to be an entrenched challenge that must be more broadly acknowledged and combatted. The CMA is very excited to support BPAO and their bold plan to break down barriers, reframe medical culture to promote inclusion, and ensure that Black Ontarians are equitably represented in the profession and racialized health disparities are eliminated. The leadership of BPAO on this issue will prove beneficial in Ontario and beyond by creating a model that can be applied to other communities.”
“The events of 2020 have made it more apparent to society that anti-Black racism is a problem in Canada, and more specifically in the field of medicine,” says BPAO President Dr. Onye Nnorom. “Racism is a form of stress, impacting Black Canadians, including Black physicians, who are then tasked with supporting a community that is experiencing disparities, as demonstrated by the COVID-19 pandemic. This funding will allow BPAO to become a stronger, more sustainable organization that can better support Black physicians and trainees to amplify our work – mentorship, advocating for equitable representation, creating strong networks of peer support and educating all physicians on Black health matters. We as Black physicians need to be well in order to better serve our communities and act as champions of health equity for society.”
The funding is part of the 10-year, $115 million pledge by Scotiabank, together with MD and the CMA, to support physicians, medical learners and the communities they serve across Canada. The collaboration has committed $37.1 million to date, supporting a wide range of professional development activities, scholarships, and health and wellness initiatives for physicians across the country.
About Affinity Contributions
Scotiabank, MD Financial Management Inc. (MD) and the Canadian Medical Association (CMA) together are firmly committed to supporting the medical profession and advancing health in Canada. As proof of this commitment, and in collaboration with the CMA and MD, Scotiabank is investing $115 million over 10 years to support physicians and the communities they serve across Canada, with $37.1 million committed to date. To learn more, please visit md.ca/physicianwellness.
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of approximately $1.2 trillion (as at January 31, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.
About the Canadian Medical Association
The Canadian Medical Association is the national voice of Canada's medical profession. We work with physicians, residents and medical students on issues that matter to the profession and the health of Canadians. We advocate for policy and programs that drive meaningful change for physicians and their patients.
About MD Financial Management Inc.
With more than 50 years of physician-focused experience, MD Financial Management Inc. (MD) is dedicated to providing financial peace of mind to Canada’s physicians and their families, so they can enjoy what matters most to them while achieving their career and life goals. MD had more than $56 billion in assets under management as of February 11, 2021. MD Management Limited was the first of the MD Group of Companies to be founded, in 1969. MD Financial Management Inc. wholly owns or has a majority interest in its seven subsidiaries (the MD Group of Companies). It provides financial products and services, is the fund manager for the MD Family of Funds and offers investment counselling services. For a detailed list of the MD Group of Companies, visit md.ca.
For media enquiries, please contact:
Global Wealth Management Communications, Scotiabank
Media & Issue Management, Canadian Medical Association
Communications Manager, MD Financial Management Inc.