2017 News & Media Releases
Time to let the world know Canada is a financial giant
While the prominence of Canada's financial sector continues to grow, it is noteworthy that it is also very often underestimated on the international stage. The fact that Toronto is the second-largest financial centre in North America and the 7th most significant globally generally comes as a surprise to people outside of Canada.
Financial Services Sector plays key role in helping Canada's small and medium sizes business prosper and grow
Small and medium enterprises (SMEs) make up 99.7 per cent of all businesses in Canada and they often rely on financial institutions to provide additional services beyond core banking and insurance functions to help them expand their markets, reduce volatility, manage costs and reduce risks, according to the Conference Board of Canada's fifth annual report card on the financial services sector released today.
Fintech helping Canada power its way from being an exporter of raw materials and manufactured goods to a service export powerhouse
As Canadians and Canadian firms work to develop global-ready products and services, exporting of financial technology, or fintech, is one of the country's strong points. According to research by the Conference Board of Canada, even two years ago finance and insurance services were Canada's largest and fastest growing services sold internationally. Fintech is helping Canada power its way into moving from being an exporter of raw materials and manufactured goods to a service export powerhouse. Already by 2015, services accounted for 44 per cent of Canada's exports and 43 per cent of foreign affiliate sales.
Ontario Improving the Delivery of Financial Services Technology
Ontario has established a team of financial services and information technology experts, including TFSA's President & CEO Jennifer Reynolds, with the goal of strengthening consumer protection and helping promote business growth and development in the financial technology (fintech) sector. Over the coming months, these individuals will continue to help shape a fintech strategy that enhances Ontario's position as a global leader and promotes growth that produces jobs and investment in the province.
Sibos 2017: Toronto Financial Services Alliance Welcomes Sibos to Toronto
Sibos, an international business forum for the global financial community that brings together financial leaders from around the world to network, collaborate and address issues and changes impacting the industry is returning to Toronto. Organized by SWIFT, this year's conference, which runs from October 16-19, titled "Building for the Future," will examine the industry's biggest issues including Cybersecurity, Artificial Intelligence (AI), the impact of geopolitical and regulatory shifts, data and identity, and Financial Technology (Fintech). As a top ten international finance centre and one of the fastest growing Fintech hubs in the world, with an investment rate exceeding that of Silicon Valley, New York City and London in the last six years, Toronto was a natural choice to host Sibos 2017.
Full Press Release
Find out more about the Canadian FinTech scene at Sibos 2017
To help some of the best local FinTechs showcase their solutions to a global audience, the Canada Lounge at the Metro Toronto Convention Centre (MTCC) will host 32 Canadian FinTech startups throughout Sibos week. The Canada Lounge will be located in the Discover Zone (Level 600). The startups will rotate throughout the week. Each day, there will be eight startups present in the Canadian FinTech Corner section of the Canada Lounge. Delegates will be able to interact with them to learn more about their offering, and how they may be able to help your business.
New Program Helps Ontario Business Connect with the Right Talent
A new online portal for Ontario employers and persons with disabilities seeking employment, was launched by the Honorable David Onley, the Ontario Chamber of Commerce and partners of the Discover Ability Network. With the support of industry partners, including the TFSA, Discover Ability, is a data-rich job-matching technology platform powered by Magnet and funded by the Ontario government to connect potential employees directly with Ontario employers.
Liberals target students' skills gap with roll out of educational placement cash
One of the largest programs in the country that has caught the attention of government officials comes out of Toronto where a group of 14 financial services companies have teamed with seven schools to provide educational work opportunities. None want federal cash for wages; instead, the Toronto Financial Services Alliance, which is overseeing the program, is looking for federal cash to scale up. The value for each company is attracting and recruiting students from "STEM" disciplines: science, technology, engineering and mathematics fields.
TFSA Update on new Global Talent Stream
TFSA was pleased to host a roundtable earlier this year to provide coordinated feedback on behalf of the Financial Services (FS) sector on the federal government's new Global Skills Strategy announced last November. The recently announced Global Talent Stream of the Temporary Foreign Worker program incorporates some of the feedback provided in that session and follow-up communications. Read more about the Financial Services Sector input into the Global Talent Stream program.
Toronto Financial Services Alliance Announces New CEO
TFSA's Board of Directors today announced that Jennifer Reynolds will succeed Janet Ecker as CEO, effective October 2nd. Ms. Ecker announced her retirement in April this year. Ms. Reynolds is currently the CEO of Women in Capital Markets.
Canada’s Financial Services: Fueling Growth Since 1867. Happy Birthday Canada!
Canada's post-Confederation history, in many ways, is a history animated by financial services. Banks, insurance companies, stock exchanges, brokerages and credit unions, among others, have financed vast parts of the economy over the years - fueling growth within and beyond a country with enormous natural resources, vast geographies and a small population.
Learn more about Canada's financial services history
Strengthening Fintech Ecosystem Must Be a Top Priority for Financial Services Industry and Governments to Maintain Canada’s Global Position, TFSA Report Says
Strengthening the fintech ecosystem in the Toronto region must be an imperative for the country's financial services sector and governments in order to maintain and grow the region's international market position, according to a new report from the Toronto Financial Services Alliance (TFSA), researched and written by Accenture and McMillan LLP.
BNN Interview: Strengthening the fintech ecosystem in Toronto
TFSA President & CEO, Janet Ecker and Bob Vokes, managing director of financial services at Accenture, join BNN to talk about the TFSA's new report that shows the fintech ecosystem in Toronto must grow in order for Canada to remain competitive.
Toronto Financial Services Alliance Welcomes Head Office of Canada Infrastructure Bank
The Toronto Financial Services Alliance (TFSA) welcomes today's announcement that the head office of the Canada Infrastructure Bank (CIB) will be located in Toronto. The Government of Canada stated in their news release announcing the recruitment of leadership candidates for the CIB that Toronto had established a global reputation for excellence as a centre for infrastructure financing. The Bank will be set up to be able to finance infrastructure in all parts of Canada.
Toronto Financial Services Alliance Welcomes Ontario’s Support for Fintech Sector
The Toronto Financial Services Alliance (TFSA) welcomes today's announcement of an Ontario FinTech strategy, contained in the Province's Budget. TFSA supports the three primary goals of Ontario's FinTech strategy, which are to: enhance Ontario's position as a global leader for financial services, promote growth in Fintech that produces jobs and investment in the sector, and maintain a high level of consumer and privacy protection.
10,000 New Student Opportunities by End of 2020: Toronto Financial Services Alliance Launches Ambitious Pilot to Help Young Canadians Jump-Start Their Careers
Toronto region’s financial services employers are increasing their investment in young Canadians through a ground-breaking, sector-wide initiative to create 10,000 new work-integrated learning opportunities for post-secondary students by the end of 2020. Named ASPIRE, the pilot program has been designed by the Toronto Financial Services Alliance (TFSA), with the help of 10 financial services employers and 7 Ontario colleges and universities. ASPIRE’s complementary goals are to improve students’ transition from school to the workplace and grow the pipeline of in-demand skills needed in the sector.
RECAP: Finance Cybersecurity Partnering Forum
More than 200 experts from financial services and fintech companies, academia and government gathered March 8 to exchange ideas and identify the potential for future collaborations in finance cybersecurity innovation...
TFSA Welcomes New Member: DBRS
DBRS is an independent, privately held, globally recognized credit ratings agency with offices in Toronto, New York, London, Chicago and Mexico City. They strive to differentiate ourselves from competitors through a more pragmatic rather than mechanistic approach, in-depth research and unequalled mandate execution.
TFSA Welcomes New Member: Morneau Shepell
Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits, and retirement needs. The Company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada.
Ontario and Israel Partner on $20-Million Research Network
Ontario Centres of Excellence (OCE) and the Israel Innovation Authority (IIA) have launched a new, $20-million bilateral program. Both jurisdictions have committed $5M each over 5 years to support the Ontario - Israel Research Network Program-MAGNET (OIRNP-MAGNET) for a total of $10M that will be matched by participating SMEs.
Toronto Financial Services Alliance (TFSA) Welcomes Jane E. Kinney as Chair of the Board
At its first Board meeting of the year, the Toronto Financial Services Alliance (TFSA) appointed Jane E. Kinney as the new Chair of the Board of Directors. With over 30 years of experience in the financial services sector, Jane is a recognized leader in governance, risk management, regulatory compliance and internal audit services. Currently Vice-Chair of Deloitte and a member of its leadership team, she has also filled the roles of Chief Risk Officer, Managing Partner of the quality & risk practice, global Chief Risk Officer, a member of the firm's Board of Directors and a member of the Board Risk Committee.
TFSA Welcomes the Official Launch of Toronto Global: a One-Stop Shop Investment Agency for the Toronto Region
Today, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Ministry of Economic Development and Growth, the Cities of Toronto, Mississauga, and Brampton, and the regional municipalities of Halton, York and Durham announced the launch of Toronto Global, an investment attraction agency dedicated to showcasing and leveraging the unique, multi-sector strengths of the Toronto Region to drive Foreign Direct Investment (FDI) and growth. As part of today's announcement, all three levels of government committed $19.5 million in funding over three years to enhance the business attractiveness of the Toronto Region when competing against other major global cities like New York, London, San Francisco, Singapore and Shanghai.
Join Canada's FinTech Mission to Hong Kong
Global Affairs Canada through the Consulate General of Canada in Hong Kong and Macao and the National Research Council Industrial Research Assistance Program (NRC-IRAP), are looking for fintech companies to participate in the "Canadian Financial Technologies Mission to Hong Kong".
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Global Survey Rates Toronto as Major Fintech Centre
A global survey on trends and innovations in financial services ranks Toronto as one of the top fintech centres in the world. The survey, conducted at the end of last year by the Toronto Financial Services Alliance (TFSA) and Z/Yen, a leading UK think-tank, received unique responses from over 300 individuals working in financial centres worldwide. The survey rated Toronto as the fourth leading global fintech centre of the future.
TFSA Welcomes New Member: Bank of America Merrill Lynch
Bank of America Merrill Lynch recognizes and embraces the importance of building a strong presence in Canada. We provide financial products and services throughout the country to corporate, institutional and commercial clients. Bank of America Merrill Lynch's affiliated entities in Canada include Bank of America, National Association (Canada Branch), Merrill Lynch Canada Inc. and Merrill Lynch Canada Services Inc. We hire talented people from diverse backgrounds who are committed to providing the very best products and services to Bank of America Merrill Lynch customers.
TFSA Welcomes New Member: Robert Walters
Robert Walters is a global, specialist professional recruitment consultancy.Over the last 30 years the business has grown and they now operate across 27 countries and employ over 3,000 people.
TFSA Welcomes New Member: OPTrust
With net assets of $18.4 billion, OPTrust invests and manages one of Canada's largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with almost 87,000 members and retirees. OPTrust was established to give plan members and the Government of Ontario an equal voice in the administration of the OPSEU Pension Plan and the management of the assets through joint trusteeship. OPTrust is governed by a 10-member Board of Trustees, five of whom are appointed by OPSEU and five by the Government of Ontario.
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