The allegorical figure of Victory is emblematic not of death, but of victory. She stands with her arms folded over a sword covered with palms. The figure is nine feet high, sculptured in white Serezza marble and stands upon a pedestal of Botticinio marble eight feet high. The base of the pedestal is decorated on all four sides with fasces in very low relief, with festoons of laurel hanging between them. Victory stands with her arms folded over a sword covered with palms which with the draperies, corselet and helmet are brought into an impressive unity. The figure has countenance of steadfast serenity, warmed by a touch of human sympathy that in a subtle way conveys the idea of triumph though suffering and sacrifice. The noted American sculptor James Earle Fraser was inspired by the entrance hall of the bank with its majestic columns of dark granite. It was unveiled on December 3, 1923.
When the Bank of Montreal decided to erect a memorial to the 230 members of its staff who had fallen in the Great War, it arranged an international design competition. The winner, James Earle Fraser, submitted two designs, both of which were accepted. One was of the Soldiers' Memorial, that stands guard in front of the Manitoba Métis Federation (formerly Bank of Montreal Winnipeg Main Office).
The First World War Tablet and Second World War Tablet are located on the east wall of the atrium. The Molsons Bank First World War Roll of Honour and The Merchant Bank of Canada Honour Roll are located on the south wall of the banking hall, just beyond the atrium.
