a wealth of talent .

Montréal

Co-operation and Development ( OECD ) countries . This type of investment permeates throughout Canada ’ s economy and is critical in driving forward innovation .

Innovation and venture capital funding is moving into Canada ’ s fintech subsector too . Global IT services and consulting company Accenture ranked Toronto , Vancouver , Montréal and Calgary among 16 world leading fintech hubs . The innovation and entrepreneurship bubbling within the country ’ s economic hubs have been the stimuli for the modern growth in the emerging fintech arena .

To fully understand the importance of Canada ’ s fast developing F & I sector to the economy , let us take a closer look at just three of the thriving knowledge hubs driving growth forward .

HEAVY HITTERS

Toronto , Montréal and Québec City are three prominent examples of Canadian hubs pushing the country ’ s traditional F & I industry forward , allowing Canada to share this knowledge worldwide and attract international interest and

co-operation .

Toronto

Toronto , the most populous city in Canada and the fourth largest in North America , is widely considered to be the centre of the country ’ s F & I sector . When it comes to finance , Toronto is also seen as the second most important city in North America , having one of the highest concentrations of financial service company headquarters on the continent . The sector is supported by around 210,000 workers , which equates to 8.1 % of Toronto ’ s employed population . Even compared to other financial global hubs , such as London ( 7.3 %) and New York ( 6.3 %), this is high . As a result , Toronto ’ s F & I prowess contributes greatly to the Canadian economy and business activity as a whole .

Toronto ’ s F & I industry is also able to reap the benefits of the city ’ s extensive knowledge capital . In The Times World University Rankings 2022 , the University of Toronto is placed 18th in the world . It is just one of the many quality educational and research institutions that provide the city ’ s F & I industry with

Above left : Toronto ( Credit : Destination Canada )

Right : Montréal ( Credit : Tourisme Montréal )

Montréal is home to both a wide array of historic and cultural sites , and a vibrant centre that supports the city ’ s prosperous economy . F & I is central to this success , with 3,000 financial organisations based in the city , employing over 100,000 skilled workers .

The city is home to many renowned financial institutions . Founded in 1874 , the Montréal Exchange ( MX ) is Canada ’ s oldest stock exchange , and this signifies the city ’ s engrained links to the country ’ s F & I industry . Montréal ’ s importance in this space is also reflected in the Global Financial Centres Index ( 2017 ), where the city was ranked 14th in the world .

Québec City

Québec City is nicknamed the ‘ capital of insurance ’, and for good reason : the city and surrounding area is a leader in the insurance and financial services industry , with 48 % of Canadian insurance

4 CONFERENCE & MEETINGS WORLD