Ontario’s Businesses and Universities Support Toronto as Global Headquarters for the Defence, Security and Resilience Bank

(Toronto, December 17) — The Ontario Chamber of Commerce and the Council of Ontario Universities strongly support Ontario’s bid to locate the Global Headquarters of the Defence, Security and Resilience Bank in Toronto, citing the city’s unmatched strengths in talent, financial services, global connectivity, and defence-related industries.

“As Canada’s largest city and its leading financial and commercial centre, Toronto offers the scale, expertise and global reach a new multinational institution of this importance requires,” said Daniel Tisch, President & CEO of the Ontario Chamber of Commerce. “A Defence, Security and Resilience Bank headquartered in Toronto would have immediate access to deep capital markets, global pension funds, and one of the most sophisticated financial services workforces in the world.”

Toronto is the second-largest financial services hub in North America, home to all five of Canada’s largest banks and a globally connected ecosystem of financial institutions and senior executives. This concentration of expertise positions the city to mobilize capital, manage risk, and support large-scale international investment aligned with the bank’s mandate.

The city’s global orientation further strengthens its candidacy. Toronto hosts more than 100 foreign consular offices, offering diplomatic reach and engagement critical to a multinational institution serving allied partners. It is also Canada’s primary global transportation hub, anchored by the country’s busiest international airport and integrated rail, highway, and freight networks linking Canada to global markets.

“Ontario’s universities are a strategic asset for the Defence, Security and Resilience Bank,” said Steve Orsini, President and CEO of the Council of Ontario Universities. “Toronto and the surrounding region offer an extraordinary, highly-skilled talent pipeline through world-class universities and research institutes, supporting advanced skills in finance, engineering, defence technology, cybersecurity, AI and advanced manufacturing.”

Ontario is home to Canada’s largest defence sector, with more than 300 companies, including global leaders such as RTX, Lockheed Martin and General Dynamics. As allied defence spending expands over the coming decade, Ontario’s advanced manufacturing capacity — including in legacy industrial communities — is well positioned to scale and adapt to support defence and resilience objectives.

Ontario’s universities further strengthen this ecosystem through leading world-class research and a pipeline of highly skilled graduates in areas central to defence, security and resilience. As outlined in Strengthening Ontario’s Defence Capacity universities play a critical role in advancing talent and research in fields such as engineering, cybersecurity, AI and advanced manufacturing – capabilities that align with the bank’s mission.

The Ontario Chamber of Commerce and the Council of Ontario Universities also point to Toronto’s political stability and reputation as a welcoming, diverse and globally connected city as key advantages for hosting this institution.

“Locating the Defence, Security and Resilience Bank in Toronto would strengthen Canada’s contribution to global security and economic resilience, while delivering lasting benefits for allied partners,” the organizations said. “Ontario stands ready to support the success of this important institution.”

– Daniel Tisch, President and CEO, Ontario Chamber of Commerce

– Steve Orsini, President and CEO, Council of Ontario Universities

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About the Ontario Chamber of Commerce 

The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, non-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC convenes, mobilizes and empowers business and local chambers in pursuit of its purpose: to bring inclusive and sustainable prosperity to Ontario’s businesses, workers, and communities.

For more information, please contact:

Andrea Carmona
Senior Manager, Public Affairs
Ontario Chamber of Commerce
andreacarmona@occ.ca | Mobile: 647-234-0255