Financial Service Cluster By Jacqueline Hall-Fusco Toronto | London | Zurich | New York
What is a Cluster? A geographic grouping of companies working within the same industry that are interconnected by the markets they serve, and the products they produce as well as their supplier, trade associations and educational institutions. Network of compatible and/or competitive inter-related organizations, sharing information between one and another. Main purpose of furthering innovation.
Toronto Financial Services The GTA is Canada’s business and financial capital by providing a financial service network that is stable, strong and credible. Toronto's financial services sector sustains many other industries as a leading consumer of resources, including law, accounting, information technology, education training, and business services. Toronto’s financial services sector is responsible for generating 12% of the city’s total GDP and is one of the fastest expanding financial sectors in North America. Key Players Banks Insurance Companies Fund Providers Securities Dealers Stock Exchanges
London Financial Services London is Europe’s financial capital. Considered the gateway to the EU, London was voted Europe’s most internationally accessible city, attracting a large mass of foreign investors. London’s accumulation of experienced work force and specialist suppliers increases the city’s value, and it is what makes this financial services hub one of the most attractive cities compared to other centres. Key Players Banks Accounting Firms Legal Offices Securities Dealers Stock Exchanges
Zurich Financial Services Zurich ranks as one of the five most competitive and attractive financial centers in the world. One third of all banks and insurance companies in Switzerland have their headquarters in Zurich because of the city’s standard of expertise in private banking and assets management. The city offers a concentration of knowledge and innovation within different segments of the financial sector. It has grown into a center for insurance companies, asset managers, and providers of alternative investment products. Key Players Banks Insurance Companies Fund Providers Securities Dealers Stock Exchanges Special Financial Service Providers
New York Financial Services New York is the financial capital of North America, and is home to Wall Street and the New York Stock Exchange, the world’s largest stock exchange by market capitalization of it’s companies listed. Key Players Banking Securities Trust Insurance
Toronto in the News Canadian FY2010 budgets plans to financially support GTA clusters. CIBC is the first Canadian bank to introduction the mobile banking applications for Smartphone's. Islamic finance course available at Toronto’s Centennial College.
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