Toronto has a large and growing financial services cluster centered around Toronto that employs over 130,000 workers. The cluster is made up of over 1,700 firms including banks, insurance companies, investment funds, and outsourced services. It is one of the largest financial clusters in North America, ranked third behind New York and London. Key factors in its success include a strong skilled workforce, innovation capacity through research organizations, and networks of partnerships between different financial organizations.
9. GTA Financial Services Cluster Research Organizations Banks Securities Services Insurance Companies Information Providers Outsourced Services Risk Capital Providers Investment Funds Computer & Communication Service Providers
10. GTA Financial Services Cluster Toronto has a concentration of 1,700 financial services firms. 3rd largest financial centre in North America The financial services sector employs approximately 130,000 workers
11. Competing Clusters New York: Ranks # 1 London: Ranks # 2 Emerging clusters Dubai Hong Kong
12. Employs nearly 515,000 workers in New York The insurance region has the largest share of regional financial services employment This cluster is comprised on four major sub-clusters: -Banking and Credit Activities -Securities and Investment Activities -Insurance -Funds NY Financial Services Cluster
13. London is Europe’s financial capital Approximately 2,000 headquartered companies listed on the London markets London is the leader of foreign direct investment Helps with the development of other clusters such as advertising, legal services, and accounting London Financial Services Cluster
14. Centennial College: first institution to offer Islamic Finance CIBC: first bank in Canada to offer mobile banking CFSI Innovators Roundtable (March 10, 2010) Mobile Financial Services Summit (Singapore) GTA News and Events
15. Banks will upgrade their ATMs’ operating systems to Microsoft Codes on Credit Cards to avoid fraud Remote-Deposit Capture Cluster Innovations
16. Visit My Blog http://claucarvajal.wordpress.com/ Thanks!
![A cluster is a concentration of companies and industries in the same geographic region which are interconnected in different levels such as: ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)