With nearly 210,000 workers, or three-quarters of the entire region’s Financial Services workforce, Toronto is the largest financial centre in Canada. Toronto is also headquarters to the country’s largest financial institutions, and is the banking and stock exchange centre of Canada.
Distribution of Jobs in the Financial Services Sector
- Banking & Deposit Taking Institutions – 58.3%
- Securities & Investments – 22.5%
- Insurance Carriers & Related Activities – 17.7%
- Funds & Other Financial Vehicles – 1.5%
[Sector data is derived from a number of sources including the Labour Force Survey, 2006 Census, 2011 National Household Survey, Canadian Business Counts, and the City of Toronto’s Employment Survey. The methodology used to identify clusters and their sizes is based on methodology used by the Institute for Competitiveness and Prosperity in its 2017 Cluster Study.]
Major Financial Services Organizations in Toronto
Banking / Financial Institutions
- Bank of Montreal (BMO)
- Bank of Nova Scotia (Scotiabank)
- Canadian Imperial Bank of Commerce (CIBC)
- National Bank (NB)
- Royal Bank of Canada (RBC)
- Toronto-Dominion Bank (TD)
Insurance Companies
- Aviva Canada
- Foresters Canada
- Intact Financial Corp.
- Manulife Financial
- RSA Canada
- Sun Life Financial
- Zurich Canada
Public Pension Funds
- CPP Investment Board
- Healthcare of Ontario Pension Plan
- OMERS Administration Corp
- Ontario Teachers’ Pension Plan
Asset Management Firms
- AGF Investment Ltd
- BlackRock
- CI Global Asset management
- Fidelity Investments
- IGM Financial
- Vanguard Canada
- Wealthsimple Inc.
[While not comprehensive, the above list provides a snapshot of Toronto’s diverse Financial Services sector and some of the companies located here.]
Key Sector Assets
- Toronto Stock Exchange (TSX)
The ninth-largest stock exchange in the world by market capitalization, the TSX has more mining and oil and gas companies listed than any other stock exchange.
Sector-specific Education – MBA Programs
