Financial Timeline

Intro 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005

Nova Scotia Financial Services Sector

Historic Timeline

© Nova Scotia Business Inc. 2015

2015• March 2015 – RBC opened a new finance-shared services centre, creating

a potential of 500 jobs in Halifax.

• February 2015 – Nova Scotia Business Inc. awarded the 2015 Acquisition International Hedge Fund Award for Best Business Development Agency in Canada.

• January 2015 – The Financial Services Social Group hits a new milestone; reaching 800 members and still growing!

• January 2015 – Citco Fund Services expands its global shared services center in downtown Halifax, signing a new 10-year lease in the Bank of Montreal building. It will support up to 475 staffers.

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2014• October 2014 – CNS Accounting Solutions, a wholly owned subsidiary of

BDO Cayman Ltd., opens its first North American location in Halifax. The shared services centre will provide additional support for accounting, auditing, and financial analysis to the company’s international clients.

• September 2014 – Working with industry, NSCC implements a financial services concentration to expand curriculum and skills development, better preparing students for the current workforce. Students in the concentration can expect an industry-led education in fund administration, trading, and compliance training; and can graduate with their Certified Financial Planning and Chartered Investment Manager designations.

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2014• July 2014 – Manulife expands its nearshore shared services operation in

Halifax creating new career opportunities in a variety of positions such as claims processing, underwriting, contact centre and management. With this expansion, Manulife could be the largest employer in the financial services sector in Nova Scotia.

• April 2014 – One year after opening, reinsurance company AnalyzeRe expands operations. AnalyzeRe specializes in data mining of Catastrophe (CAT) Modelling Analytics. By providing statistical analyses of CAT model results to their clients, AnalyzeRe helps identify potential payout losses and empirical magnitude analysis of possible CAT claims payouts.

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2013• Aug 2013/Mar 2014 – Mitsubishi Bank, the third largest bank in the world,

enters the Canadian market via the acquisition of two top ranked hedge fund administrators located in Halifax. Butterfield Fund Services and Meridian Fund Services were acquired by Mitsubishi UFJ in August 2013 and March 2014, respectively. Via this acquisition, Mitsubishi UFJ now employs over 150 employees and continues to grow its nearshore presence in Nova Scotia, servicing its international client base.

• May 2013 – San-Francisco based Conifer Fund Services, LLC joins growing portfolio of financial services companies in Nova Scotia, opening its first North American shared services centre in in Nova Scotia

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2012• April 2012 – Admiral Insurance, the UK’s top auto insurance provider,

expands in Nova Scotia with hundreds of employees supporting its UK market. Admiral Administration joins leading hedge fund service providers in Nova Scotia.

• April 2012 – Premium hedge fund information and news provider, Opalesque, reports Halifax, Nova Scotia is positioning itself to be the next world financial centre.

• March 2012 – eVestment HFN, leading source for hedge fund data, reports Nova Scotia has become the a new haven for fund administrators.

• March 2012 – KPMG recognizes that Nova Scotia is the fastest growing hedge fund administration centre in Canada.

• January 2012 – Financial services consulting firm, Intelligii Consulting Ltd, opens in Halifax.

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2011• November 2011 – Beaumont Advisors Limited, a specialist consulting firm

offering hedge fund operational due diligence services to clients internationally, announces the launch of its new business.

• June 2011 – UK-based media and research group, International Fund Investment, launches global research study results on the Future of Fund Administration to 2015 in Halifax.

• May 2011 – TD Insurance, part of the TD Bank Group, one of Canada’s largest financial services organizations, announces expansion in Nova Scotia.

• April 2011 – Citco Fund Services and Nova Scotia Business Inc. agree to an expansion deal that will bring addition jobs to Citco’s existing shared services centre.

• January 2011 – Citco launches its first North American Real Estate Investment Funds (REIF) practice in Nova Scotia.

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2010• April 2010 – Independent investment dealer, Grafton Securities, chooses

Nova Scotia for second global office location.

• April 2010 – RSA Canada, leading home, car, and business insurer, expands operations in Nova Scotia.

• March 2010 – Castle Hall Alternatives, the hedge fund industry’s leading provider of institutional and private investor due diligence announces Halifax expansion.

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2009• September 2009 – Citco partners with Dalhousie University’s Corporate

Residency MBA.

• September 2009 – In partnership with industry, Saint Mary’s University launches Certificate in Financial Instrument Analysis program developed to meet the demand for skilled labour in financial services.

• July 2009 – Eclipse Corporate Services Ltd, a paralegal firm, specializing in corporate transactions, opens in Halifax, providing services to North American and off-shore jurisdictions.

• March 2009 – Flagstone Reinsurance opens its first global shared services operation in Halifax.

• January 2009 – Bermuda-based BF&M Insurance Limited establishes a strategic nearshore operation in Nova Scotia.

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2008• August 2008 – UK-based insurance service provider, Admiral Insurance,

opens a strategic mid/ back office operation in Nova Scotia, servicing its UK market.

• February 2008 – Citco announces creation of industry-specific IT centre in Halifax.

• February 2008 – Nova Scotia industry representatives rang the closing bell at the New York Stock Exchange.

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2007• September 2007 – Bermuda based IT firm Ignition opens its first North

American centre in Halifax, focusing on providing IT solutions and services to the FS industry.

• February 2007 – Citco Fund Services launches its strategic shared services centre in Halifax, in addition to a global training centre.

• January 2007 – Bermuda-based hedge fund administrator, Meridian Fund Services, establishes its first North American shared services centre office in Halifax.

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2006• March 2006 – Marsh, the world’s leading risk and insurance services firm,

establishes technical centre of excellence in Halifax.

• November 2006 – Top ranked hedge fund administration firm, Olympia Capital, opens a nearshore shared services centre in Halifax.

• November 2006 – Citco Fund Services, the world’s leading hedge fund administrator, launches its first Canadian shared services centre, creating of up to 350 jobs in Halifax.

• November 2006 – Top ranked Butterfield Fund Services announces the opening of its first North American shared services centre, creating up to 375 jobs.

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2005• December 2005 – Bermuda based international investment management

firm West End Capital is the first offshore Financial Services firm to select Nova Scotia for its newly created, North American shared services centre.

• August 2005 – NSBI officially launches its strategic plan to grow the Financial Services industry in Nova Scotia.

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Financial Timeline

Economy & Finance

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