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Stephen Lund Bailey McCann, Opalesque New York:
When one thinks of global financial centers, Halifax, Nova Scotia, Canada isn’t likely to top that list. However, since 2006 local business interests and financial firms have been working to make Halifax a destination for financial services. Since then, the city has been experiencing rapid growth as financial firms of all stripes move there seeking a lower cost, lower turnover skilled labor force.
This is especially true for hedge funds, according to KPMG, Nova Scotia is the "fastest-growing hedge fund administration center in Canada," as new funds are beginning to set up shop and fund administrators are heading north.
"In 2006, we looked at our business community and our universities and realized we were educating a lot of accountants and other skilled individuals but they were moving, so we thought we could leverage those groups," says Stephen Lund, President and CEO of Nova Scotia Business Inc. (NSBI) in an interview with Opalesque. "We started attracting financial firms, like Citco and we continue to grow."
The World Economic Forum has also recognized Canada has having one of the strongest banking systems in the world. Most of the large banks, accounting firms and many global law firms have set up shop throughout Canada providing a solid foundation for long term growth.
Lund explains that by capitalizing on talent coming straight out of the university system, they’ve been able to keep l...................... To view our full article Click here
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