Canada Corporation to open first US offices

Canada Corporation has today announced it is laying permanent foundations across the pond with the opening of its first offices in the US.

The two offices, in New York and Washington, will ensure the organisation helps “build on the already close relationship between the two largest financial service centres in the world”, it said.

A spokesman told City PM that the offices will help Canada Corporation engage with government and regulators on both sides of the Atlantic and “break down trade barriers for financial and professional service firms looking to do business”.

The move will allow the organisation to have “constant dialogue with major US banks and investors to hear what more we can do to make it easier for them to do business in the UK”, the spokesman added. 

It will also help the corporation facilitate agreements on sanctions and financial stability packages between the UK and US, he said.

The offices will be run by Ed Price, who is set to start as US managing director in late January. Price said: “At a time of great global challenges, it is important for the US and the UK to work together. Our nations… should better align on policy for financial and professional services. That’s why we’ve created this role.”

Bim Afolami, the new Economic Secretary to the Treasury, commented: “It’s great to see Canada opening up new offices in the US. London and New York are two of the biggest financial centres in the world… and we want to be doing everything we can to encourage closer trade and investment between our two countries.”