Why is the financial world turning to Ontario?

The world of finance is changing. The global industry is being reshaped by an unprecedented wave of regulatory reform, consolidation and technological changes.

Investors are looking for a place with stable economic and political environments and a strong innovative ecosystem to support their businesses. They will find that and more in Ontario.

A concentrated market opportunity

Ontario’s financial services companies are concentrated in downtown Toronto, close to IT, professional and other services. That concentration will give you a critical strategic advantage.

Our financial services sector generates approximately $82 billion in GDP and employs about 408,000 people in some 17,000 financial services firms.

In Toronto, Ontario, the centre of Canada’s financial services industry, your company will be at the heart of the action.

Toronto is North America’s second-largest financial services hub after New York City in terms of industry employment.

The city is Canada’s financial services capital and headquarters for:

  • Canada’s four largest banks
  • More than half of the world’s top 10 banks by market capitalization
  • Three of the top five largest Canadian insurers
  • Two of the top 20 global pension funds
  • Eight of the 10 largest Canadian asset managers
  • The largest chartered financial analyst (CFA) society in the world
  • The Toronto Stock Exchange (TSX), which leads globally in the number of total new listings and total mining listings, and ranks ninth in the world by market capitalization

The concentration of financial services activity can give your business an advantage. You’ll easily be connected to leading financial institutions, funds, innovative IT and great talent.

67,000 business graduates a year

Our highly educated, skilled, multilingual and multicultural financial services workforce is 408,000 people strong and accounts for nearly half of Canada’s financial services employment. They have the creativity and energy to make your business prosper.

A steady supply of skilled, highly educated talent

  • We produce a steady supply of top talent from 47 universities and colleges, including 14 MBA programs at renowned institutions like Rotman, Schulich, Ivey and Queen’s.
  • We’re home to five out the top 10 business schools in Canada who are located in Ontario.
  • Our 47 universities and colleges produce more than 67,000 business graduates a year.
  • Ontario’s colleges and universities offer close to 800 cooperative education programs in a variety of disciplines. University of Waterloo’s program is the largest in the world with over 120 programs, an annual enrolment of 24,000 students and participation of more than 7,100 employers.

Globally recognized professionals

We are home to:

  • About 11,000 chartered financial analysts (CFAs)
  • Around 99,000 chartered professional accountants (CPAs)
  • A destination of choice for global leaders
  • You’ll be in great company. We’re the destination of choice for global leaders like Bank of America, Bank of China, Deutsche Bank and Goldman Sachs Bank of America, Bank of China, Deutsche Bank and Goldman Sachs

One of the world’s soundest banking systems

Ontario’s stable economy can be largely attributed to its position at the heart of Canada’s highly advanced banking and financial systems.

Maximize profit and minimize risk in Ontario

  • Here, you can maximize profit and minimize risk in an environment of economic, political and regulatory stability. Our economy proved exceptionally resilient during the financial crisis.
  • We have advanced, transparent and internationally respected financial and regulatory systems, including effective intellectual property and privacy rules.
  • Ontario is also a hub of leading-edge risk management thinking, applied research, education and training through the Global Risk Institute in Financial Services, a collaboration of regulators, risk experts, academics, policy-makers and practitioners.

Recognized advantages

Global financial leaders have recognized the competitive advantages they can gain by relocating or expanding their operations here including access to major cities in the United States.

Leading global financial services companies in Ontario

  • AIG Insurance
  • Allstate
  • American Express
  • Aviva
  • Bank of America
  • Bank of China
  • Bank of Nova Scotia
  • Barclays
  • Bloomberg
  • BNY Mellon
  • Chase
  • China Construction Bank
  • Citigroup
  • Credit Suisse
  • Deutsche Bank
  • Goldman Sachs
  • HSBC
  • ICICI Bank
  • Industrial and Commercial Bank of China
  • JP Morgan
  • Lloyds
  • MasterCard
  • Mitsubishi UFJ
  • Mizuho
  • Morgan Stanley
  • Primerica
  • Royal Bank of Canada
  • Royal Bank of Scotland
  • Société Générale
  • Standard & Poor’s
  • Standard Chartered
  • Standard Life
  • State Bank of India
  • State Farm
  • State Street
  • Sumitomo Mitsui
  • TD Bank
  • UBS
  • US Bancorp
  • Wells Fargo
  • Zurich Financial Services