The City of Toronto endorsed a report from the recently formed Toronto Financial Services Alliance today. The TFSA, sponsored by the City’s Economic Development Division, wrote the report to 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 in a news release.

The report examines Toronto’s current position as North America’s fourth largest financial centre and puts forth a series of recommendations that will ensure Toronto remains a leading financial centre for the future. The action plan was approved by 30 industry CEOs at a TFSA Leaders Forum on September 26.

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.”