Focused on community development

Consolidating and developing Québec’s financial sector by driving value-added financial activities

2015–2016 Highlights

5

New IFC companies

100

IFC jobs created

2.000

Participantsto both editions of the Canada FinTech Forum

6

Studieson key issues influencing the business environment of Québec’s financial institutions

Collaborating to joint success

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Claude SéguinChairman of the Board Finance Montréal

Québec’s financial services industry is one of the provincial economy’s core sectors and generates quality, high-calibre jobs.

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24

GOVERNOR MEMBERS

6

PARTNER MEMBERS

12

ASSOCIATE MEMBERS

300

VOLUNTEERS

A reputation we can build on

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Mario AlbertChief Executive Officer Finance Montréal

Over the past two years, Finance Montréal has built an impressive reputation.

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Developing our
industry’s strengths
to drive
growth

PILLARS OF GROWTH

Finance Montréal brought together the industry’s most influential players to develop its assets and expand its distinctive advantages in financial sectors in which Québec is renowned and has positioned itself as a leader, including:

  • Finance and Technology
  • Retirement
  • Responsible Investment
  • Talent Development
  • Quebec Emerging Manager Program
  • Studies

2015-2016 Achievements

WORK GROUPFinance and Technology

Guy cormier President and CEO,
Desjardins Group, Governor of Finance Montréal and leader of the Finance and Technology work group

“The many tech firms established in Montréal are a force we need to leverage further to drive the emergence of a dynamic and prosperous FinTech sector in Québec. Finance Montréal’s FinTech...

“The many tech firms established in Montréal are a force we need to leverage further to drive the emergence of a dynamic and prosperous FinTech sector in Québec. Finance Montréal’s FinTech work group helps involve various stakeholders in developmental projects with tangible results for the sector. Both established institutions and start-ups should have a vested interest in fostering a technological shift among financial services, and we believe this to be a key growth vector for Québec’s finance industry.”

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Investments in financial technology (FinTech) are booming, and Finance Montréal aims to further confirm the city’s status as a choice hub for this industry. This work group seeks to foster a closer collaboration between stakeholders in the finance and tech sectors to create a unique vector for FinTech development.

2015 Canada FinTech Forum

Joint venture on shared services

2016 Canada FinTech Forum

Study on the FinTech ecosystem’s development in Québec

2015-2016 Achievements

WORK GROUPRetirement

Michael Sabia President and CEO, Caisse de dépôt et placement du Québec, Governor of Finance Montréal and leader of the Retirement work group

“Canadian pension funds are renowned worldwide, as they have developed the means to grow the funds they manage by investing in quality, sustainable assets, which are increasingly sought-after...

“Canadian pension funds are renowned worldwide, as they have developed the means to grow the funds they manage by investing in quality, sustainable assets, which are increasingly sought-after in an environment of low interest rates. As a result, managers are looking for expertise enabling them to be more selective and invest in assets that provide pension funds with the returns they need to meet their long-term commitments. In order to grow as a financial hub, Montréal must keep developing such expertise.”

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Over the next few years, pension funds’ assets under management should grow considerably. Both Québec and Canada enjoy a level of know-how and sophistication based on decades of experience. In order to leverage this strong position, Finance Montréal seeks to consolidate Québec’s leadership in retirement management.

3rd edition of the International Pension Conference of Montreal

Pole on Retirement Applied Research launched

Five socio-demographic research projects on retirement completed

4th edition of the International Pension Conference of Montreal

2015-2016 Achievements

WORK GROUPResponsible Investment

André Bourbonnais President and CEO,
PSP Investments, Governor of Finance Montréal and leader of the Responsible Investment work group

“A few years ago, only a few financial institutions were integrating environmental, social and governance issues into their investment process. This practice has since become the norm...

“A few years ago, only a few financial institutions were integrating environmental, social and governance issues into their investment process. This practice has since become the norm. Indeed, stakeholders’ growing expectations, the alignment of operational efficiency with environmental and social impacts, as well as the development of innovative technologies and business models, foster change and growth within the financial services industry. We believe that Montréal boasts several competitive advantages that enable it to seize these opportunities and build a reputation as a dynamic, world-class hub for responsible investment.”

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The Responsible Investment work group’s mission consists in identifying developmental projects to foster responsible investment practices. The group works to optimize the involvement of relevant financial institutions in forward-looking projects, and promote commitment in responsible investment among targeted stakeholders.

Study on the development of Québec’s responsible investment ecosystem, spring 2016

Responsible Investment work group created, fall 2016

Key action areas determined, winter 2017

2015-2016 Achievements

Talent Development

Raymond Rio Head of Human Resources Canada,
BNP Paribas

“We are thrilled to count on Finance Montréal’s support. They helped us with various facets linked to human resources.”

Finance Montréal stays in constant contact with universities to ensure the implementation of a training framework that adapts to current and future market needs.

Online internship platforms

University tours
(7 luncheons)

Career guide on finance jobs (career entry guide)

2015-2016 Achievements

Quebec Emerging Manager Program

Vital Proulx Co-Chief Investment Officer and Chairman of the board, Hexavest

“Creating the QEMP through Finance Montréal’s efforts is a step forward in developing new asset management firms in Québec. This tool already enables...

“Creating the QEMP through Finance Montréal’s efforts is a step forward in developing new asset management firms in Québec. This tool already enables dozens of managers to reach their full potential and apply their investment strategies through a strategic input of new assets for management. They can also build a performance history and better position themselves to obtain new management mandates from national and foreign institutional investors. Over the next few quarters, we plan to increase the number of firms participating in this program, in order to directly contribute to building Montréal’s reputation as a first-class financial hub.”

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The Emerging Manager Program was created through the efforts of Finance Montréal’s Entrepreneurship work group, as well as contributions from several industry players. The program’s mission consists in promoting financial entrepreneurship in Québec by mandating emerging managers.

Emerging managers accepted in the Program

Two funds capitalized for a total of $250 million

Selected managers mandated

Studies conducted by Finance Montréal

Studies

Mario Albert Chief Executive Officer
Finance Montréal

“Through the various studies conducted by Finance Montréal, Québec’s finance industry has access to factual data to analyse and understand the major trends that shape it, as well as practical measures it can take to foster its own development.”

In order to gain an in-depth understanding of the financial market and its operations, Finance Montréal has conducted several studies on key issues affecting the business environment of Québec’s financial institutions. The data collected will be invaluable in fostering industry growth and providing a practical look on new market realities.

Study on funding methods for infrastructure projects

Study on the corporate financing chain in Québec

Study on the development of Québec’s responsible investment ecosystem

Study on the depth of the finance sector’s specialized labour pool

Study on attracting foreign direct investment in finance and the IFC tax measure

Study on the FinTech ecosystem in Québec

Attracting foreign financial corporations that will help expand our industry

A WINDOW ON
THE GLOBAL FINANCIAL
SERVICES INDUSTRY

Finance Montréal strives to spread awareness of Québec’s business opportunities among foreign investors.

By promoting various practical tax measures, such as the IFC tax credit, Finance Montréal guides corporations seeking to expand their activities in Montréal.

2015-2016 Achievements

Mario Albert Chief Executive Officer
Finance Montréal

“Our international prospecting activities enable us to build trusting relationships with major world-class financial institutions. These efforts help expand our own finance sector and its interconnection...

“Our international prospecting activities enable us to build trusting relationships with major world-class financial institutions. These efforts help expand our own finance sector and its interconnection with other financial markets, as well as attract direct foreign investments in Montréal.”

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Contributing to the sector’s development As a financial hub, Montréal offers many benefits, including quality talent and low operating costs. Moreover, Finance Montréal has rolled out various initiatives to attract foreign companies that will actively contribute to the sector’s development.

5 new IFC companies qualified in Montréal

3 new financial services firms accompanied

30 prospecting missions conducted

63 corporate tours of Montreal realized

About 100 new IFC-qualified jobs created

Promotingour financial
industry
at the local
and
international
level

Grow our reputation

Finance Montréal leverages a promotional strategy composed of a range of actions. Moreover, the organisation boasts cutting-edge communication tools to effectively promote Québec’s financial industry.

To this end, Finance Montréal has also implemented a sponsorship strategy to support its strategic partners and expand its visibility.

Increased visibility

Over the past two years, Finance Montréal has rolled out several initiatives to expand its visibility and that of the financial sector as a whole:

  • Enhanced multiplatform promotional activities
  • In 2016, the number of followers on Twitter and LinkedIn increased by 46% and 53%, respectively
  • Created a shared activity and event schedule
  • Supported and sponsored several partners

Local and international events

Sophie Palmer Partner, Jarislowsky Fraser
President, Board of Directors, CFA Montréal, Associate Member of Finance Montréal

“Our strategic partnership with Finance Montréal contributes to CFA Montréal’s efforts toward providing our financial community with world-class events and cutting-edge training.”

  • Conferences led by Finance Montréal Governors in London and Paris
  • Foreign missions in Morocco, France and Hong Kong
  • 2015 and 2016 Canada FinTech Forum
  • International Pension Conference of Montreal
  • Conferences on cybersecurity and big data in finance
  • Eight theme breakfasts per year

2016 Finance Montréal Annual Cocktail

Jacques Ménard’s conference in Paris, January 2015

Monique Leroux’s conference in London, March 2015

2016 Conference on big data

Shared objectives to develop our financial community

Collaborating to joint success

In 2015 and 2016, Finance Montréal, Québec’s finance collective, dedicated itself to developing our financial hub by leveraging its leaders’ efforts to drive sector growth. Through its strategic work groups, projects, studies and events, Finance Montréal secured support from financial institutions, which directly contributed to the success of our joint efforts. As a result of these initiatives, Finance Montréal has brought the industry’s key players together like never before. As at December 31, 2016, the organization boasted 24 governor institutions, 6 partner institutions and 12 associate institutions, with over 300 volunteers also contributing to various projects to help Montréal’s financial sector grow and succeed.

The past two years saw the implementation of the Ambition 2020 strategic plan, which aims to position Québec’s financial sector in specialized market segments generating growth worldwide and in which our industry already has a competitive edge. The projects Finance Montréal selects further its goal to strengthen these areas of activities, to the benefit of the collective’s members in particular and Québec’s economy in general. The last few years also featured two key events. First off, Mr. Mario Albert was appointed as Finance Montréal’s Chief Executive Officer and expertly fulfilled his operational management duties. Moreover, Finance Montréal completed its merger with sister organization CFI-Montréal, which increased operational efficiency and strengthened the coordination of various efforts, including the attraction of direct foreign investments to our financial sector.

In compliance with the will of our member institutions, Finance Montréal adopts a results-oriented approach. Its mission consists in fostering the financial sector’s development through practical measures that benefit the industry’s momentum. Over the upcoming years, Finance Montréal plans to further drive and unite industry stakeholders. The vision that inspires our members is bold yet feasible: implement projects that create value within the financial sector, expand promotional efforts with regard to our strengths locally and internationally, and convince foreign institutions to launch cutting-edge operations in Montréal to create quality jobs in specialized market segments.

On behalf of the Board of Directors, I would like to thank the members of Finance Montréal’s Board of Governors for their leadership and vision. Finance Montréal is the fruit of their trust in a robust financial sector, where results benefitting all are achieved through collaborative efforts. Through their oversight and active involvement, they ensure Finance Montréal’s sound governance and give voice to the organizations they represent. I would also like to thank Finance Montréal’s CEO, Mr. Mario Albert, and his team, whose professionalism and constant attention to member satisfaction make every project a resounding success. Last but not least, I would like to thank Finance Montréal’s partners, including the Montréal Metropolitan Community, Government of Québec, Government of Canada, industry volunteers and external partners that help make Finance Montréal a dynamic organization serving an industry playing an integral role in the economic strength of our city, our province and our country.

Inspired by our past achievements and ready to face tomorrow’s challenges, we will pursue our collaborative efforts to develop Québec’s financial services industry.

Claude Séguin
Chairman of the Board
Finance Montréal

A reputation we can build on

We confirmed our driving role in developing our finance industry and acting as the preferred networking hub for Québec’s financial institutions. We rolled out projects that added value to our sector and organized world-class events that helped rank Montréal among the globe’s active financial hubs. Our reputation is built on the collaborative efforts of those who take part in Finance Montréal’s activities. It’s quite possibly our most important asset, since it’s the key in moving our projects forward. It helps us connect with national and foreign financial institutions, local and international governments, foreign investors, as well as forums where we present the business opportunities Montréal has to offer.

In short, our reputation is founded on our past achievements and the strategic approaches we implement for our sector’s future growth. These approaches include Finance Montréal work groups, in which we develop forward-looking industry projects. Said work groups stem from the choices made to position Montréal in specific segments of the finance industry, as well as broaden its expertise and international reputation. Our current work groups focus on retirement, technologies applied to finance (FinTech), responsible investment, derivatives, entrepreneurship in finance and talent development within the financial sector. Composed of a dozen industry players, these work groups seek to solve issues affecting most of our membership and drive job creation in finance. Through the projects and studies we conduct, these work groups have a material impact on the sector’s momentum. They enable our institutions to collaborate in unique ways and implement joint projects to everyone’s benefit.

Boasting nearly 150,000 jobs, our finance industry is one of Québec’s leading service providers. Montréal currently ranks 14th on the Global Financial Centres Index, ahead of Shanghai, Dubai, Frankfurt and Paris. In 2008, Montréal ranked 31st, which reflects our ability to grow and compete with the biggest players.

Our global presence is also reflected through the international conferences we organize, as well as the international forums in which we contribute as speakers. The activities we organize in New York, London or Paris with Finance Montréal’s governors enable us to promote our financial hub at the highest levels. We also seize opportunities to take part in high-profile events, such as the Asia Financial Forum or Les Entretiens Jacques-Cartier, to highlight the distinct assets of Québec’s finance sector. Moreover, Finance Montréal’s international investment attraction activities, resulting from its merger with CFI-Montréal, connect us to decision-makers working in the world’s foremost financial institutions. These efforts bear fruit and help expand Montréal’s financial hub and link it with other markets around the globe.

Opinions shared with Finance Montréal underscored the industry’s appetite for specialized forums dedicated to finance professionals. Finance Montréal organized several quality events, such as the Canada FinTech Forum, the International Pension Conference of Montreal, theme breakfasts on cutting-edge finance, a conference and an annual cocktail, thanks to which it grew its exposure and relevance. This segment of our activities is growing considerably and most certainly represents one of our key strengths. We plan to keep developing this segment to our members’ benefit.

The finance industry features strong competition among institutions worldwide, and this backdrop is made even more intense due to technological and regulatory changes affecting the entire sector. In order to stay on top, we need to keep sharpening our competitive edge and make the necessary strategic moves. As it pursues its implementation of the Ambition 2020 strategic plan, Finance Montréal will continue on its mission, while fostering the completion of joint projects that have a positive impact on Québec’s finance sector.

Our past achievements enable us to remain confident and optimistic toward the future of our finance industry. I am personally committed to helping this sector face any challenge, and would like to thank the members of Finance Montréal’s team, who show the same drive in their work. I would also like to thank Claude Séguin, Finance Montréal’s Chairman of the Board, Board members, and Finance Montréal’s Board of Governors for their support and sound advice. Lastly, I would like to thank the members of our finance community for their involvement in our projects and activities, which enable us to foster growth within Québec’s finance industry.

Mario Albert
Chief Executive Officer
Finance Montréal