Montréal, 3 é Centre Financier en Amérique du Nord

[jesseps]

I checked the ranking on wikipedia and Montreal is in good company: #11 Frankfurt, #12 Montreal and #13 Melbourne.

So I now understand why after Brexit, many banks decided to go to Frankfurt and not #26 Paris or #30 Dublin.

Compressive list: https://en.wikipedia.org/wiki/Global_Financial_Centres_Index

[rufus96]

Good showing in this ranking. I feel as if it's more of a measure of momentum, and especially reputation (rankings are partially based on a survey which anyone can fill out).

I don't think anyone would claim that Montreal is a larger or more significant financial centre than Chicago, Paris, San Francisco. That being said, reputation certainly counts for something and given that we have climbed to #12 in 2017 from #30 in 2008, this can only enhance our profile.

[theodore123abc]

People like Powercorp, and the caisse de depot deal with huge amounts of money. I don't think this is a public bank ranking. 

[Chris1989]

41 minutes ago, mark_ac said:

Which of Montreal's financial institutions compete on a global scale with the equivalents in Paris/Boston/San Francisco?

This ranking is far removed from reality.

 

If they had us ranked dead last, you would have written something along the lines of "Brilliant ranking, perfectly summarizes my own feelings, Montreal is inferior to other places, I'm right, blah blah" but because they have us ranked higher than you think we deserve, the ranking is therefore "far removed from reality". A ranking that has London and NYC at the very top. Yes, how ludicrous a list indeed.

LOL. 

[ERJ-Boy]

It doesn't say we're a powerhouse. It says that we are an attractive financial centre... We are ahead of a lot of cities for venture capital this year. The economy is doing great, job growth is stellar, the fiscal environment is amazing, YoY growth is at its highest (this province had an annualized GDP growth of 4% in Q1 for god's sake!). 

This ranking doesn't say which city is the largest financial city... It says which city is attractive right now in finance, and with all the factors I've mentionned (and many others), we rank high. Period.

[fmfranck]

il y a 7 minutes, ERJ-Boy a dit :

It doesn't say we're a powerhouse. It says that we are an attractive financial centre... We are ahead of a lot of cities for venture capital this year. The economy is doing great, job growth is stellar, the fiscal environment is amazing, YoY growth is at its highest (this province had an annualized GDP growth of 4% in Q1 for god's sake!). 

This ranking doesn't say which city is the largest financial city... It says which city is attractive right now in finance, and with all the factors I've mentionned (and many others), we rank high. Period.

It's incredible that anyone would despute that, and keep banging on (more than one person) about how we aren't as large as other financial centers. This ranking comes out bi-annually ( i think), and every single time, people misunderstand this survey on purpose (it seems) just to recomfort their personnal opinions. 

[Né entre les rapides]

Il y a 2 heures, mark_ac a dit :

This all feels very loose with little substance behind this "attractiveness indicator"

So true.  There is an amazing proliferation of «ranking surveys», many of them meaningless, and apparently designed so that each and every city might point to a particular one where it can claim championship.

Like of classroom of 30 (pupils), where 30 «prizes» are created/calibrated so that each pupil can claim his/her prize eg. best overall,  best composer, best listener, best progress, most popular, most polite, 1st grammar, 1st math, 1st history, 1st bio, and...........................

We are all equal, and we are all pre-eminent as well.   How wonderful! 

[fmfranck]

Did you read the methodology behind this ranking? If that information means nothing to you, it doesnt mean that this survey is of weak methodology or doesnt mean anything. Having a context that is favourable to investments might not be information that validates the ego that some people (on an internet forum or not) might associate to their cities wealth, but it's an important vector for wealth in the "real world". 

[YUL]

23 minutes ago, fmfranck said:

If that information means nothing to you, it doesnt mean that this survey is of weak methodology or doesnt mean anything.

Exactly! 

If it alerts some financial leaders (for which the criteria used are in line with their own) that maybe Montreal should be considered for their relocation/expansion projects, all the better.

That survey just show (using those criteria) that Montreal is currently an attractive place to be located (for financial business activities) nothing more, nothing less.

Nobody is pretending that Montreal became a financial powerhouse overnight... (but if those indicators keeps improving, maybe we will in 20 years from now ;-)  ) 

 

[mont royal]

4 hours ago, mark_ac said:

This is then a meaningless indicator. Yes our economy is doing (relatively) well - yes Quebec is on track for 2% GDP growth (real GDP adjusted for inflation) - but this doesn't mean all of a sudden that major financial firms now have their sights on Montreal above Boston and San Francisco.

This all feels very loose with little substance behind this "attractiveness indicator"

Is this a useless indicator for New York? for London? for Toronto? Or is this famous bias you keep referring to exist only towards Montreal? This analysis comes our of London and China...why would they have a special bais in favour of Montreal? Maybe the bais is actually quite closer than you think... like about 3 inches above your forehead.