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  1. 1. GTA Financial Services Cluster<br />MRK625w10<br />Johnny Paspalovski<br />MRK625MS<br />GTA CLUSTER/SENECA COLLEGE<br />
  2. 2. What is a Cluster?<br />Michael Porter defines a cluster as follows…<br />A concentration of companies and industries in a geographic <br />Region which are interconnected by the markets they serve, <br />and the products they produce, as well as the suppliers, <br />trade associations and educational institutions.<br />
  3. 3. Benefits of a Cluster<br />Cluster environment helps create local jobs <br />& fuels economic growth in a region<br />Clusters contribute to a higher quality of life<br />for the community, the region and the country<br />Clusters foster high levels of productivity and<br />innovation and lays out the implications for <br />competitive strategy and economic policy<br />
  4. 4. What Can A Cluster Be?<br />A cluster can be any of the following………<br />Incubator<br />Convergence Centre<br />Accelerator<br />Innovation Centre<br />Centre of Excellence<br />
  5. 5. Who makes up the GTA’s Financial Services Cluster?<br />Banks<br />Credit Agencies<br />Big 5 banks<br />Insurance Companies<br />
  6. 6. Toronto has a concentration of 1,700 financial services firms<br />Employment in the financial services sector has grown steadily <br />The financial services sector has added stability to the City's economy<br />The Financial Services Cluster consists of three main industry groups<br />
  7. 7. What is happening around us?<br />Making Toronto one of the world’s top 10 financial centres<br />CIBC Expands its Branch Network<br />ING Direct Launches Mobile App<br />
  8. 8. Ranking/Competitors<br />North America’s top 3 financial clusters<br />New York<br />Chicago<br />Toronto<br />
  9. 9. BMO Calls for Companies to Innovate<br />Leaving Off on This Note<br />
  10. 10. Please Visit My Blog….<br /><br />