The Toronto Region financial services sector is the heart and soul of Canada’s economy. The Banker's International Financial Centre rankings placed the Toronto Region second in North America and in the Top 10 overall of 56 international financial centres in 2014. The region also ranks third overall in the 2016 PricewaterhouseCoopers (PwC) Cities of Opportunities Study and ahead of Shanghai, Los Angeles, Paris and Beijing in the Global Financial Centres Index (2016).
CANADA’S FINANCIAL HEARTLAND
The Toronto Region is home to five of the largest banks in Canada. The sector employs more than 261,000 people and houses the third-largest stock exchange in North America, and ninth-largest in the world. The TSX is also the world’s largest exchange for mining, oil and gas companies and cleantech companies. For investors looking for a stable market to set up operations, Toronto consistently outperforms most international centres and provides service levels better than most of the financial centres in the world.
“We decided to launch our North American expansion from Toronto as the region is one of North America’s leading financial services hubs, and is particularly renowned for financial technology, which is a rapidly expanding part of our business. Our initial experience has been very positive, and we have already established successful client relationships in two core sectors: private equity and non-financial corporations.”
– Kevin Lester, Co-CEO, Validus Risk Management
STRONG AND STABLE FINANCIAL SYSTEM
Over the last 10 years, the World Economic Forum ranked Canada’s banking system, headquartered in the Toronto Region, as one of the safest in the world. With a diverse economy and an even more diverse population comes the need for a broad and wide-ranging financial services sector. The Toronto Region presents a myriad of opportunities in terms of capital, banking and financing, and has the solid, trusted infrastructure to back it up. As a result of our well-developed financial infrastructure, stable capital markets and risk management expertise, as well as our strong economic relationship with China, the Toronto Region was chosen as the first Renminbi (RMB) offshore trading centre in the Americas.