From the trading floor to Canada’s Top 50 Women Leaders

Stepping into a boardroom and being one of the only women at the table can be challenging, but for Amanda Custodio (MBA ’02), chief growth officer at BMO Wealth Management, it was an opportunity.

With over two decades of experience in finance, Custodio has successfully navigated this fast-paced and high-pressure industry, leading her to approach leadership through impact, mentorship and legacy. Custodio’s breadth of professional experience, commitment to saying ‘yes’ and drive all contributed to her being named one of the Top 50 Women Leaders of Canada for 2025.

In conversation with MBA students Frances Marie Flores and Seyi Oloyede, Custodio reflects on the mentors, lessons and defining moments that shaped her career and offers guidance for women to shape the future of leadership.

Watch the full interview below.

Can you share key moments or experiences in your career that contributed to being recognized as one of the Top 50 Women Leaders of Canada?

I really see this recognition as a culmination of my entire career. When I reflect on the opportunities and the roles I’ve held, they’ve all played a part in this journey, rather than just one or two pivotal moments. More recently, much of the work that contributed to this recognition has centered on growing our wealth business.

After leaving DeGroote, I joined another Canadian bank and spent nearly 20 years in capital markets on the trading floor. Four years ago at BMO, where I’ve now been for 15 years, I transitioned from the trading floor to the wealth business, focusing specifically on growth across the division’s four pillars.

That growth has been both organic and inorganic, and while we work equally hard on all aspects, much of the recognition tends to come from our inorganic growth and acquisitions. Most recently, I had the privilege of leading, alongside my partners, the 2025 acquisition of Burgundy Asset Management, which was truly a pivotal moment in my career.

What initially drew you to the finance sector and what has kept you motivated to grow within it?

I completed the co-op MBA at DeGroote School of Business, and before starting the program, I wasn’t sure which area I wanted to focus on. My co-op terms ended up being in finance, and I quickly realized that I loved financial services, particularly capital markets. My final co-op placement was with a Canadian bank in capital markets, and I ultimately joined that firm after graduation.

What has kept me motivated to grow within financial services, especially in capital markets, is the tremendous amount of opportunity in the sector. Over the course of my career, I’ve worked in corporate and investment banking, equity capital markets, equity sales, fixed income, structuring, global markets and now wealth. Each role has built on the last, layer by layer. I’m sure many fields offer similar growth, but having spent my career in financial services, what continues to motivate me is that I’m still learning every single day, and I love that.

Have there been mentors or role models who influenced your journey?

I could spend all day talking about the people who have shaped me, and continue to do so, but I’ll highlight a few notable mentors. One of my earliest mentors in the workplace was Patti Shugart, a trailblazer in financial services. She wasn’t my direct manager, but as a senior leader in our group, she quickly became an informal mentor. I learned so much watching her lead in a boardroom full of men, guiding with vision and impact, and I took a great deal from her problem-solving approach and her ability to bring people along. Even though we no longer work at the same firm, I still reflect on that time, and she played such an important role early in my career.

More recently, over the last 15 years at BMO, my current boss, Deland Kamanga, has been an incredible role model and sponsor. He has shown me what it takes to be an empathetic leader while delivering exceptional business results, and how to advocate in a respectful and effective way. Having access to his leadership style and vision has been one of the greatest privileges of my career, and so much of my own leadership approach is shaped by what he taught me.

What first inspired you to pursue leadership and how has your understanding of leadership evolved?

When I sat in your seat doing my MBA, I knew some really inspirational leaders around me, in my co-op terms, in my life, in politics, in the news and in my family. Somewhere in the back of many people’s minds is the aspiration to be a leader, to lead people, and to help them bring out their best. But when you start working, you’re often in a production role or an individual contributor role.

My understanding of leadership has evolved over my career, and I now see that to be a successful and impactful leader, the goal is to grow and support those around you so that your own impact can be multiplied.

What advice would you give to young women who may feel hesitant about stepping into leadership or pursuing ambitious career paths?

Being the only, or one of the only, women around a boardroom table certainly has its advantages. I often think about our clients, and even about myself as a client, and many times I want to work with a woman, so there is real opportunity in being different. It’s not always a disadvantage to stand out at the table.

For young women early in their careers, especially those moving into financial services and thinking about leadership as a future goal, my advice is simple: say ‘yes’. Sometimes, not always, young women, myself included, struggle to say yes before they feel 100 per cent confident. I’ve felt that way, and I see it in the workplace, particularly among young women.

My advice is to get comfortable saying yes when you’re 60, 70 or 80 per cent confident. Don’t say you’re 100 per cent if you’re not, but step forward anyway, because saying yes helps ensure you’re part of the conversations where decisions are made.

How does International Women’s Day contribute to conversations around leadership, recognition and collective progress for women?

I think International Women’s Day is really important because it gives us a dedicated day, a formal chance to reflect on how far we’ve come and to collectively celebrate our accomplishments. It’s also a good reminder to be honest with ourselves, challenge convention, and foster diversity of thought and innovation so that we continue moving forward.