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October 10, 2002
City endorses Financial Services Alliance's plan to position Toronto as a competitive financial centre
  
The City of Toronto today endorsed a report from the Toronto Financial Services
Alliance (TFSA), an initiative encompassing financial service industry
companies, government and academia. The TFSA is an innovative and collaborative
effort sponsored by the City's Economic Development Division to help enhance
and promote Toronto as a leading financial services centre.

"The City of Toronto is proud to be working with such an accomplished and
dedicated team on a strategy that will help us in such an intensely competitive
global environment. We need to provide a solid base from which local companies
can expand internationally and one that is also attractive to new business
opportunities," said Deputy Mayor Case Ootes.

The report examines Toronto's current strong position as North America's fourth
largest financial centre and puts forth a series of recommendations that will
position Toronto as a leading financial centre in the future. The action plan
was approved at a TFSA Leaders Forum on September 26 attended by 30 industry
CEOs. The TFSA will now focus its efforts in the following areas:

· Competitiveness - Building a comprehensive understanding of Toronto's
strengths in order to market the City as a leading financial services centre.

· Promotion - Communicating the importance and capabilities of the sector
locally, nationally and internationally.

· Human Capital - Increasing the dialogue among all stakeholders to ensure the
industry continues to attract the most talented and best trained people to work
in the financial services sector. Ensuring all stakeholders collaborate in
order to ensure we have leading edge curricula for use domestically and
internationally.

· Advocacy - Working together to address the issues on which we share concerns
by actively engaging all stakeholders, in particular all levels of government.

The TFSA report is available at http://www.toronto.ca/business. Organizations
interested in participating are invited to contact the TFSA at
416-397-4833.


Media Contact
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