Why Toronto is the right location for new global defence bank


There is also the question of market depth. Toronto is the second-largest financial centre in North America, with more than 300,000 professionals working in all aspects of finance and insurance. Each of Canada’s Big Five banks — RBC, TD, Scotiabank, BMO and CIBC — runs its global operations from Toronto’s financial district, as do leading insurers including Manulife, Sun Life, Intact Financial, and Fairfax Financial Holdings. Half of the Canada’s Maple 8 pension funds are based here: CPP Investments, OMERS (Ontario Municipal Employees Retirement System), the Ontario Teachers’ Pension Plan, and the Healthcare of Ontario Pension Plan. The Global Risk Institute and the Toronto Centre for Global Leadership in Financial Supervision operate here as well, the latter having trained financial supervisors and regulators from more than 190 jurisdictions.



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