The document discusses the Toronto Financial Services Cluster. It notes that Toronto is home to the headquarters of Canada's 5 largest banks and houses 80% of foreign bank headquarters. With over 1,700 financial firms, Toronto has the 3rd largest concentration of financial services employment in North America. The cluster benefits from partnerships with UofT and York University. While it has a large skilled labor pool and central location, weaknesses include high real estate costs and lack of national regulation. Competition comes from London, New York (ranked 1st globally), and Hong Kong (ranked 3rd). The document provides details on the financial clusters in these other cities.