SUMMER 2019 SUMMER 2019 CUKCC│CHARTER MEMBERS

2 SUMMER 2019 CUKCC│CONTENTS

Contents

4-5 Messages from the President, CEO & Secretariat

7 Upcoming Events

8 New Board Directors Appointed

10-12 International Trade

15-18 Economics

20-21 Energy, Mining & Natural Resourcces

24-25 Business Leasership

26-27 Your Finances

28 & 18 Women in Business

29-31 Technology Update

32-38 New Members

Editor: Victoria Teeple Business Development & Office Manager +44 (0)20 7930 4553 [email protected]

CANADA-UK CHAMBER OF COMMERCE 3 CUKCC│PRESIDENT, CEO & SECRETARIAT Matthew Moth, President

Rising above the bedlam Uncertainty may be the new certainty for us all. Brexit continues to paralyse UK politics, Canada is gearing up for a Federal Election in the Autumn, global trade agreements (and conflict) ebb and flow, the Ukraine has elected a comedian as President. Amidst these ‘interesting times’ for globalism and populism, we have set a course for the Canada-UK Chamber of Commerce in 2019 where we remain focused on doing the things that we do well, while continuing to adapt to the unusual environment we are inhabiting. The Chamber marked its 97th anniversary in 2018 with the busiest networking programme in its history attracting over 3,500 registrations, and in 2019 our intention has been to deliver another diverse and engaging schedule of events, attractive to a broad membership base. And we’re delighted to see that so far this year, our approach to provide members and potential members at all levels with an exciting programme of networking and new business development opportunities, has been really productive. There have been a number of event highlights already this year with strong attendances throughout. Our two New Member events so far this year have both been splendid evenings, illustrating the wide variety of organisations, from multi-nationals to fascinating start-ups, which have an interest in the Canada-UK trade axis and have chosen to join us. A Diversity & Inclusion Forum International Women’s Day Breakfast Panel debate brought a strong attendance to Canada House. We ran a successful SME Forum event with Nicola Horlick, CEO, Money & Co; a Financial Services and International Trade Forums breakfast with keynote Speaker Peter Hall, Chief Economist of Export Development Canada and an ever popular tax, foreign exchange and currency evening hosted at Quebec House. It was a real pleasure to welcome Ben Page, Chief Executive of Ipsos MORI as our guest speaker at the sold out Chamber AGM lunch at the House of Lords. Ben gave us a brilliant and entertaining run through some of the similarities and differences between the attitudes of Canadians and Britons, in the wonderful setting of the riverside room in the Upper House. Our huge thanks to Baroness Blackstone for her continued support as our official sponsor at the House. Very positively, we have continued to attract a range of new members to the Chamber as part of their wider development plans. Our latest Charter members include Aberdeen Standard Investments, Bell Canada, Canada-UK Foundation, Export Development Canada, National Bank of Canada and White & Case LLP. We are pleased to see a wide range of prospects at all membership levels. We have also been fortunate to have the talents of a number of new Directors join our active Board. This has included Stephan Delisle (Thomson Reuters); Samantha Myers (Gowling WLG); Sherry Roth (Stikeman Elliott); Allan Taylor (White & Case); and Stephen Wilhelm (EDC). It is a pleasure to welcome them all. I would like also to thank all of the Directors and Members who help to run our ever-widening array of Forums across the Chamber. Your ideas and enthusiasm are the lifeblood of what makes us a success and I would encourage other members who like to be involved to get in touch with our Forum Chairs and Co-Chairs. Looking forward, Nigel, Victoria, Jeff and the extended Secretariat team are co-ordinating a fabulous programme of events for the rest of 2019. However, the Chamber has not stayed relevant and engaging for nearly 100 years without consistently introducing new ideas and thinking. Thank you to all of you who have participated in the recent Member Survey. We are combining that feedback with a review of where we are today, that we’ll be able to share with you in the coming months. Separately, we are doing some work on our ‘online experience’ to make sure we are up to scratch in the digital world and we’re hoping to get a new Forum or two off the launch pad. Enjoy this edition of the Chamber newsletter and on behalf of The Secretariat and I, can I thank you all for your continuing enthusiastic support and we look forward to seeing you all over the course of our Summer of activity.

4 SUMMER 2019 CUKCC│PRESIDENT, CEO & SECRETARIAT Nigel Bacon, CEO

Earlier this year we asked our members for their feedback in a member survey and the key results included offering some further business services which we will discuss in more depth in a strategy meeting. We also had suggestions it was time to update our brand and website, feedback we had anticipated having already commissioned a brand partner, former Christmas speaker Phil Pallen, to complete this summer. Members were very happy with our event programme whist also suggesting adding to our current forums. As a consequence we will be launching new property and health sector focused forums later this year. Our Event team led by Jeff has been very busy lining up some impressive events for May-July. We welcomed in June the Honourable John Horgan, Premier of British Columbia, the Honourable Victor Fedeli, Ontario’s Minister of Finance, and Scott Summach, Deputy Director for Manufacturing, Ministry of Trade and Export Development, Government of Saskatchewan. Our annual events at this time of year include our sold-out Annual Golf Day in May and the popular Annual Canadian Chief Economists panel debate and lunch in early June, now in its 10th year. Early July was very busy with our Annual Pancake breakfast (1 July) and Champagne tea at Masterpiece London (2 July). As I reiterated at our recent AGM, a key benefit of Chamber membership is we offer a B2B platform in the Canada-UK bilateral business space. We are uniquely placed to assist you with introductions and referrals and the event programme is a means to that end. Whilst our busy programme continues to attract a record number of registrations drawn from a wide variety of sectors, members are welcome to contact us with specific member introduction requests which we hope to be able to assist with. During 2019 we have maintained a membership of over 300 organisations from across sectors, whilst expanding our numbers of Charter members, and they have been able to enjoy the many events that our current forums have been hosting (Diversity & Inclusion, Energy, Financial Services; International Trade; Mining & Natural Resources; SMEs; and Tech). If you wish to discuss an event with us to raise your brand profile, do get in touch. Thanks are due this edition to our newsletter sponsors Provident Communications, TD Securities, GHS Hospitality and our many contributors. Wishing all our members a happy summer of networking.

Victoria, Jeff, Dudu, Liana, Juline & Anne

We said goodbye earlier this year to Selma Shennib, Events & Membership Coordinator, after 2 years with us. We wish her all the best as she returns to Montreal, Canada. Her successor Jeff Surprenant has been working tirelessly on events since her departure. We have also recently been joined by Anne Manuel and wish her all the best as she helps us with our events programme.

Members should have received the 2019-20 Directory of Members and our 2019-20 Corporate Lists are soon to follow.

CANADA-UK CHAMBER OF COMMERCE 5

CUKCC│UPCOMING EVENTS MARK YOUR CALENDARS

TECH FORUM: ANNUAL 17 SEPTEMBER CYBERSECURITY UPDATE

CFCC INTERNATIONAL 3 OCTOBER WINE TASTING

6 DECEMBER ANNUAL CHRISTMAS LUNCH

CANADA-UK CHAMBER OF COMMERCE 7 CUKCC│THE BOARD NEW BOARD DIRECTORS APPOINTED

Stephan Delisle Senior Account Manager, Corporates Consumer Market, Thomson Reuters

Through his 30+ years career, Stephan has worked with clients in over 100 countries and has lived on three continents (Canada, US, Australia and UK). His experience has been gained via national and global leadership sales and operations roles at Thomson Reuters, IBM, KPMG, Ernst & Young, Bell Canada and several fast-growing technology firms. He has also volunteered his time for several years as Operations Executive and Board Member of the Canada-Australia Chamber of Commerce. He has an Engineering and MBA degree and is fluent in English and French.

Sherry Roth Partner, Stikeman Elliott

Sherry is a partner in the London office where she leads the debt capital markets and banking practices. She advises underwriters and corporate and sovereign issuers in connection with the international debt markets, including Euro Medium Term Note Programmes and global debt offerings by Canadian governments, government agencies, financial institutions and other corporations. Sherry acts for issuers and underwriters in relation to private placements of securities into Canada, with extensive experience acting for issuers and underwriters in the “maple bond” market. Sherry also has a broadly based practice in finance and banking law. She regularly acts for lenders and borrowers in secured and unsecured lending and asset based lending and for lenders, sponsors and borrowers in international project finance transactions, particularly in the mining sector.

Allan Taylor Partner, White & Case LLP

Co-head of White & Case’s EMEA M&A/Corporate Practice, Allan Taylor’s practice focuses on complex international transactions. He is adept at steering cross-border, multi-disciplinary teams to provide innovative solutions to his clients’ business needs. As well as his extensive track record in international mergers and acquisitions, equity capital markets, joint ventures and private equity transactions, he has experience advising on UK corporate governance matters. He also advises both issuers and underwriters on initial public offerings, including London and dual exchange listings.

Stephen Wilhem Regional Vice-President, EMEA, Export Development Canada

Stephen joined EDC in 1997 and has more than 20 years of international trade & structured finance, equity, trade insurance and business development experience. In July 2013, he was appointed Regional Vice-President – EMEA, with responsibility for finance origination, as well as trade facilitation and creation efforts through the provision of EDC’s financing and risk mitigation products and services for Canadian exporters, international obligors and investors. Stephen is a graduate of McGill University (BComm), Montreal, Canada, and holds the Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) designations.

8 SUMMER 2019 CUKCC│EVENT RECAP

97th AGM & Lunch at the House of Lords

The Chamber hosted its 97th Annual General Meeting & Lunch us are wrong about everything, Millenials, Gen Z and Perennials at the House of Lords in May. The morning began with our AGM and the challenging opportunities of our ageing societies. at which members voted to approve the accounts from last year The Vote of Thanks was delivered by Canada’s Deputy High and approve the in-year Board appointments. After drinks on Commissioner Sarah Fountain Smith. The Chamber would like the terrace, lunch was served and Mr. Ben Page, President, to sincerely thank Mr. Page for his address and Baroness Tessa IPSOS Mori, delivered an amusing and incisive speech about Blackstone for hosting us at the House of Lords. social and political trends in the UK and Canada, why most of

CANADA-UK CHAMBER OF COMMERCE 9 CUKCC│EVENT RECAP

INTERNATIONAL TRADE

Brexit in a Global Economy with Export Development Canada & CGI

In April the International Trade & Financial Services Forums The panel included: held a breakfast entitled: ‘Brexit in a Global Economy: • Jerry Norton, VP Global Marketing & IP Strategy, CGI Opportunities for expanding bilateral trade and investment • Stephan Delisle, Senior Account Manager, Corporates between the UK & Canada’. Keynote speaker Peter Hall, Consumer Market, Thomson Reuters VP & Chief Economist from Export Development Canada, • Jennifer Hawkins, Senior Manager, Trade & Customs, led a fascinating discussion on the roots of populism in PwC Ireland the run up to Brexit, cost of separation and expected • Seamus Nevin, Chief Economist, Make UK outcomes. This talk was followed by a panel discussion The Chamber wishes to thank event sponsors Export moderated by Chamber Vice President Matthew Grisoni. Development Canada and CGI.

10 SUMMER 2019 CUKCC│FEATURES

INTERNATIONAL TRADE

Beyond Brexit: Engagement with Brussels is the Key to Canadian Success Under CETA

If Brexit has demonstrated one thing, it is that the EU to comment early in the EU decision-making process matters. It matters a great deal. to help ensure that free trade is, indeed, free. This is an With a market of over 500 million people, the EU is a opportunity that Canadian businesses should not overlook formidable economic and political force and will remain or squander. so, even after Brexit. Underpinning this strength is the EU Yet perhaps even more important than the formal Single Market. The rules adopted in respect of the Single structures of CETA are the informal opportunities for Market often become the dominant standards in many Canadian businesses to understand and influence policy industries, and even businesses operating outside the discussions in Brussels through more regular engagement EU are increasingly required to conform to EU rules and with the “Brussels bubble” (as the Brussels based EU requirements. regulatory ecosystem is referred to). This does not Brussels is the home of the key institutions and rule- necessarily require an office or staff in the city, or even an makers of the EU, all of which play a central role in extensive budget – it does, however, require a more active, promoting, sustaining and protecting the Single Market. strategic and even coordinated degree of participation by Brussels therefore also matters a great deal. It is the place Canadian businesses than exists at present. where many of the issues affecting the EU are defined, its For Canadians and Europeans alike, the EU is a complex agenda is set and policy options are presented, debated creature – with its myriad of institutions, presidents and decided. In fact, it has been estimated that around and decision-making processes. It is not, however, an 80% of the rules directly affecting the lives of EU citizens impenetrable one. In order to understand the EU and are initiated in Brussels. manage its risks and opportunities, Canadian businesses Given the importance of Brussels from a policy, legislative must, however, engage with it, and for this, there is no and regulatory perspective, Canadian businesses seeking substitution to Brussels. to do business in, or with, the EU should pay much more attention to the workings of its capital. Many Canadian companies in Europe, however, focus their attention almost exclusively on the individual EU states or regions where they do business. With respect, this approach is flawed and needs to be complemented with a Brussels- specific strategy. Canadian businesses must have eyes, ears and voices in Brussels in order to protect and promote their investment and interests, and to take advantage of the opportunities the EU offers. Contrary to what some say, rules from Brussels are neither rash nor ill-considered. They are the outcome of a process that takes a great deal of time and debate, not just in the corridors of power, but in conferences, roundtable discussions and informal discussions throughout the city. Contact: Mark Camilleri With the implementation of the Canada-EU Lawyer Comprehensive and Economic Trade Agreement (CETA), Camilleri Law Canadian businesses have a unique advantage in terms T: +32 (0) 289 56025 of formal contribution to the EU decision-making process [email protected] www.camillerilaw.com compared with other non-EU countries (including the UK following Brexit). CETA gives Canadians an opportunity

CANADA-UK CHAMBER OF COMMERCE 11 CUKCC│EVENT RECAP

INTERNATIONAL TRADE

The Rt Hon The Lord Gus O’Donnell & The Hon Andrew Percy MP

The Chamber’s International Trade Forum was delighted to A few weeks later nearly 15 Board Directors, members and host a breakfast briefing on 29 November 2018 with Guest of invited guests joined The Hon Andrew Percy MP, the UK Prime Honour The Rt Hon The Lord Gus O’Donnell GCB, Adviser Minister’s Trade Envoy to Canada, for a roundtable discussion at to the CEO at TD Bank Group, and Former Cabinet Secretary McCarthy Tetrault’s offices in the City. Mr. Percy discussed the & Head of the UK Civil Service. The occasion was very well UK’s international trade and investment priorities and listened supported with over 100 members and their guests registering. to guests views of Canada and the UK as trading partners, and We would like to thank both The Lord Gus O’Donnell for his challenges or opportunities they are experiencing. The Chamber address and TD Securities for sponsoring the breakfast. would like to warmly thank Mr Percy for his time and McCarthy Tetrault for kindly hosting this event.

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12 SUMMER 2019

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Artist renderings, may not be exactly as shown. WestJet’s Boeing 787-9 Dreamliner coming early 2019 and seats will be available for purchase fall 2018. Canary Wharf Group is delighted to sponsor the Canada-UK Chamber of Commerce

14 canarywharf.comSUMMER 2019

00129_Canada-UK Chamber of Commerce - Print Ad - v01.indd 1 30/11/2016 12:59 CUKCC│EVENT RECAP

ECONOMICS Financial Services Forum: Governor of the Bank of Canada, Stephen S. Poloz

Last November the Canada-UK Chamber of Commerce from 1.75% to what it calls its neutral policy rate of around welcomed Governor of the Bank of Canada, Stephen S. Poloz, 3%. Members and their guests valued the opportunity to to the Grange St. Paul’s Hotel to address over 375 members listen to the central bank’s kingpin whilst networking over and guests. Governor Poloz discussed recent developments lunch. The Chamber would like to sincerely thank Governor in global financial markets – particularly rising long-term Poloz for his address and our event sponsors: Canary Wharf bond yields and volatile stock markets – as a reflection of Group plc, Concord London, Borden Ladner Gervais LLP, strong economic fundamentals. The Governor’s remarks Export Development Canada and KPMG. signalled the Bank of Canada would raise the benchmark

CANADA-UK CHAMBER OF COMMERCE 15 CUKCC│FEATURES

ECONOMICS

Has the productivity payoff arrived?

Author: Sal Guatieri, Senior Economist, BMO. similar large gains in 2017. True, corporate tax cuts and lighter regulations stoked spending last year, but so did the drive We’ve talked about the three major structural forces applying a to expand capacity (amid typical late-cycle constraints) and heavy brake on inflation, namely automation, e-commerce and to enhance competitiveness (amid a fierce online battle led globalization. To this list we might add one more: productivity. by Amazon). More firms are turning to automation to satisfy Among US nonfarm companies, labour productivity grew 2.4% demand in the face of worker shortages. For instance, Walmart in the year to Q1, the fastest since 2010. Part of the increase has rolled out robots across its stores (to sweep floors and reflected one-off boosts from inventory building and import stock shelves) well ahead of schedule. paring. Still, even the four-quarter average rate has climbed to If productivity growth stays healthy, inflation will likely stay low. eight-year highs of 1.7%, nearly a full percentage point above The drive to automate is also heightening “automation anxiety”, the eight-year norm (0.8%). While it’s premature to claim that which is dissuading wage increases. Hourly compensation was the long-awaited payoff from recent investments in digital subdued at 2.5% y/y in Q1, little changed from the past eight- technologies and advanced automation has finally arrived, the year mean (2.4%). Normally, wage growth tracks productivity current productivity trend is promising. higher. But not today, as more workers across industries fear Higher productivity means the economy could grow faster than that more of their day-to-day duties will be eventually done previously thought without sparking inflation. In fact, 2.5% by algorithms and robots. The OECD estimates that 14% of might be the economy’s new speed limit if the productivity global workers will be displaced by automation within two trend stays at 1.7% and the labour force expands 0.8% as in decades, while another one-third of jobs will be radically the past seven years. This would be materially faster than Patrol changed. Because wages haven’t kept pace with productivity, Officer Powell and Company’s 1.9% estimate. One way to know unit labour costs – the biggest driver of inflation along with whether the economy’s speed limit has indeed shifted higher is price expectations – barely rose in the past year (0.1%), far less if real GDP grows consistently faster than the current perceived than the eight-year norm (1.5%). Barring a sharp upturn, core limit, while rates of unemployment and core inflation hold inflation could stay below the Fed’s 2% target for some time. relatively steady… as per the past year for the most part. For equity investors, sustained healthy economic and job growth, There’s no doubt American companies are investing heavily in rising productivity, tame inflation and low interest rates are about new automation. Spending on information processing gear rose as close to nirvana as you can get. While it’s too soon to crack 9.5% in 2018 and that on software jumped 10.3% following open the champagne, recent trends are worth toasting to.

Powell sounds a bit like Poloz

Author: Benjamin Reitzes, Senior Economist, BMO. so the March data, out next week, could have a big impact on 3 May 2019 Q1 tracking (partially because there can be chunky revisions). We’ll also get some housing figures and the first data point for The Fed drove some wild market swings this week, but the Q2 in April jobs next week. Barring something extreme, the message in the end was clear: policy rates are on hold until BoC’s conservative forecast should remain intact, which means something material changes. Hmmm… where have we heard that rates aren’t going anywhere for a while. before? The Bank of Canada delivered a very similar message last week, though the backdrop is a bit different with below- target inflation in the US and a widening output gap up here. And, the impact on the BoC from this week’s FOMC meeting only reinforces the view that policymakers will be patient. This Contact: week’s data were consistent with the BoC’s narrative as well. Douglas Porter February GDP was below consensus, falling 0.1%, but that’s Chief Economist & Managing Director still in-line with the Bank’s 0.3% Q1 forecast. There’s a bit of BMO Financial Group a disconnect in the data, currently, with the industry figures T: +44 (0)20 7664 8120 [email protected] (production data) showing growth of slightly below 1% for the www.bmo.com quarter. Meantime, demand side data have been materially weaker. Trade, in particular, was exceptionally weak in February,

16 SUMMER 2019 CUKCC│FEATURES

ECONOMICS

Third time unlucky?

Author: Avery Shenfeld, Managing Director & Chief In addition, a heavier dose of fiscal stimulus, particularly at Economist, CIBC Bank. the federal level where Canada’s debt service costs are well 23 April 2019 contained, might be a better approach. Someone has to borrow and spend when tough times come, but Canada seems to be coming out of its second brush with putting the debt on the nation’s books rather than on those of recession risks, but will it be a case of third time unlucky? The individual households could be the safer approach. first close call was back in 2015, when we went through two Market Call consecutive quarters of falling real GDP after oil sector capital • In forecasting, as in poker, sometimes it pays to stick with the spending tumbled. That didn’t count as a recession, because we hand you’ve been dealt. We’re standing pat with nearly all escaped without a climb in the jobless rate, but it was enough of what we laid out a month ago. These calls largely rest on to prompt two insurance rate cuts from the Bank of Canada. a view that global growth indicators will look a bit better as The second soft patch was driven by a deceleration in global winter turns to spring. growth in the second half of 2018, a slump in Canadian home • A spring awakening, even if not a sign of even better things sales and related retailing, and a bottleneck that depressed to come thereafter, will prove negative for fixed income Canadian heavy oil prices. That yielded a near zero growth rate markets, at least until the fading of US fiscal stimulus brings in Q4. a return to rate cut risks in 2020, particularly in the US where But a pause on rate hikes by the Bank of Canada, early signs we’re showing a token ease next year as a placeholder for a of a turn in China, and at least some reduction in Canada-US more dovish Fed picture beyond 2019. trade fears, seem to be keeping growth positive in Q1. Some We see the US dollar as has having room to give ground adjustments to add flexibility in mortgage regulations while against many major currencies, in the lead up to a 2020 Fed interest rates are higher might be helpful to cushioning the ease. But after a rally on a better Q2 Canadian GDP outturn, downturn now evident in housing (see pages 9-11). the Canadian dollar looks likely to weaken off, and we’re A third brush with at least some recession risks lies in wait in nudging our 2020 target more in that direction. The economy 2020, when the US could be hit with a bit of fiscal restraint has held up well since 2008 despite a lackluster export sector after having been lifted by tax cut and spending stimulus in and has steadily been a net borrower abroad without adding 2018-19. Will Canada be lucky again? If so, it will have to have to an investment income deficit (see pages 3-5). But red ink its longest run near full employment since the 1960s. in the trade balance will eventually test foreign appetites to That feat is also rare among other countries (see pages 6-8), and continually offset that with additional Canadian investments, those that managed it often built up excessive financial risks and we’ll need a weaker loonie in 2020 as our key export that deepened the next recession when it came. market, the US, sees a further slowing. That said, there are some reasons why Canada and the US Read more at: https://economics.cibccm.com/economicsweb/ could muddle through 2020 with sluggish but still positive cds?ID=7077&TYPE=EC_PDF growth. Both central banks seem to have wisely stepped to the sidelines and away from further rate hikes before it was too late. On the trade front, Canada’s exporters might get some relief if, as we expect, the Canadian dollar trades at somewhat weaker levels in 2020 and beyond. But if global growth sours more than in our base case for next year, perhaps due to a more heated trade war, policymakers in Canada will need to consider what steps to take to add domestic stimulus. Contact: The lesson from other jurisdictions is that achieving a long Avery Shenfeld expansion by leaning heavily on ultra-low interest rates and Managing Director & Chief Economist ever expanding household debt carries some risks. Putting CIBC a regulatory floor under mortgage qualifying rates if market T: +1 (416) 594 7356 [email protected] interest rates tumble sharply could reduce those side effects www.cibc.com by giving households cheaper mortgages while restraining mortgage sizes.

CANADA-UK CHAMBER OF COMMERCE 17 CUKCC│FEATURES TD Economics TD Securities

ECONOMICS Corporate Canada Is Getting On Board An Update Since Comply or Explain Gender Disclosure Policy Came Into Effect 2 Corporate Canada is gettingBeata Caranci, Chiefon Economist board | 416-982-8067 Leslie Preston, Senior Economist | 416-983-7053 March 27, 2019 TD’s 2013 Report - Rationale for Comply or Chart 2 : Share of Board with Zero Women Author: Beata Caranci, Chief Economist & Leslie Preston, Senior Economist, TD Bank Group.Explain Policy Directors has Dropped Distribution of Firms by Number of Women on Boards, % 60% In 2013, we wrote a report titled “Get on Board Corporate Canada” that called out the lack of progress of women on the 54.8% When we investigated solutions to address Canada’s poor In 2013, we wrote a report titled “Get onboards Board of publicly Corporate traded Canadian these companies. measures Despite women’s have progress only withinbeen the laborrecently market andimplemented increased educational (see 50% 2012 attainment, there was no evidence of the same at the board level. Withinboard the diversity international record rankings, within Canada the S&P/TSX,had also fallen there was a 2013 37.8% Canada” that called out the lack of progressbehind of countrieswomen that on had the implemented Appendix formal diversityA and policies.B). More Thisclear timehad divide a whiffis likely between of market needed countriesfailure. to measure championing the hard lined 40% 2014 2015 quota-based systems versus those preferring a more mar- 2016 boards of publicly traded Canadian companies.In response, Despite we recommended women’s thecombined adoption of a “complyeffectiveness or explain” boardof the disclosure policy policy and in shareholder order to mobilize initiatives. shareholder 30% ket-driven C/E disclosure policy. Quotas mandating the 2017 progress within the labour market and increasedmarket forces educational by creating accountability, However, transparency vigilance and measurability will be required of board selection to ensure and diversity a “hit practices. the number” Canada’s 20% 2018* largest securities regulator, the Ontario Securities Commission (OSC),share agreed of women with this of approach. boards Inwere 2014, gaining the OSC popularity intro- within 7.5% attainment, there was no evidence of theduced same comply at orthe explain board (C/E) disclosurephenomenon that came intodoesn’t effect intakea 2015.number hold.This of requires EuropeanThis mostmight countries,companies be listedin acting the on astheform a bluntS&P/ (but ef- 10% TSX to disclose the number and proportion of women on their boards and in executive officer positions. It also requires dis- level. Within the international rankings, Canada had also fallen of appointing a couplefective) of women tool for to altering board genderseats representation.in order to However, 0% closure on whether there is a policy related to the identification andthey nomination came withof women greater directors, risk howof unintendedthe company conconsequences.- 0 1 or 2 3 or more behind countries that had implemented formalsiders diversity the representation policies. of women avoid in the boardinvestor nomination scrutiny. and executive Or, whenofficer there’sappointments a belief processes, that and diversitywhether there Number of Women on Board Source: Bloomberg, TD Economics are adopted targets at either the board or executive officer level. InChoosing particular, to do none quotas of the ran above afoul requires of harnessingan explanation. market and This had a whiff of market failure. is accomplished with economiconly one forces or totwo address women. root causes This like skirts biases or candi- In response, we recommended the adoptionWith ofonly a four “comply years since or the policyfundamental came into effect, change it has been within datehighly candidatesearch effective and in aselectionnomination number of areas. and practices. First,searches. there In hasaddition, been quotas a notable increase in the share of women on boards across all industries and across all firm sizes. Second, there has been a slightly different manner captures another notable area of risked stigmatizing qualified women on a corporate board explain” board disclosure policy in order to rapidmobilize decline shareholder in the share of boards with zero women. Third, comparing across countries, C/E disclosure policies appear as improvement. There has been a rapid collapse in the share Read more at: by carrying the perception of being the antithesis of merit. market forces by creating accountability,effective transparency at increasing andwomen on boards as quotas, with the passage of time. of firms with no women on their boards (Chart 2). In 2014, https://economics.td.com/corporate-canada-getting-on-board 40% of the firms on the S&P/TSX had zero women on measurability of board selection and However,diversity corporate practices. Canada’s journey is not yet complete. Most publiclyIn traded contrast, companies C/E fall disclosures short of the gaveimportant shareholders minimum the tools 30% threshold that constitutes critical mass. Continued progress mustto hold be made firms by smalleraccountable firms, whichon gender account diversityfor 63% ofat the board their boards, a share that had not moved in at least three Canada’s largest securities regulator, the Ontario Securities the board seats on the S&P/TSX. In addition, C/E policy has not and senior executive level. We preferred this policy since years. This stood at less than 10% in 2018. Commission (OSC), agreed with this approach.compelled Inan improvement2014, the in the representation of women within Chart 1: Progress Made Across Firm Size the senior executive rankings of firms. A similar outcome was alsoit rejects a one-size-fits-all approach and mitigates some Share of Women on Boards by Firm Revenue, % OSC Comply or On the international stage, Canada has stabilized its place 35% Explain Policy OSC introduced comply or explain (C/E) disclosurenoticed with countries that came that mandated diversity quotas. of the2012 downside risks related to non-market30.9 solutions. In Implemented in the rankings (Table 1, page 3). This data uses a more nar- 30% 2013 addition,2014 there was evidence26.5 of progress occurring within into effect in 2015. This requires most companies listed on the 24.4 Institutional shareholders are increasingly acting on the informa- 25% 2015 22.4 row set of firms relative to our S&P/TSX measure. When tion that C/E disclosures provide in order to influence companiesAustralian 2016 and UK publicly listed firms, which were early- S&P/TSX to disclose the number and proportion of women 20% 2017 we wrote the original paper in 2013, the international towards greater gender diversity. A number of these measures have adopters2018* of versions of C/E policy. 15% benchmark was 2011 data, in which Canada ranked higher on their boards and in executive officeronly positions. been recently It implemented also (see Appendix A and B). More 10% than it does today, but did so with a much lower female time is likely needed to measure the combined effectiveness of theWith the OSC enforcing a C/E disclosure rule in 2015, requires disclosure on whether there is a policy related to the 5% policy and shareholder initiatives. However, vigilance will be re- this was essentially opting for a carrot rather than a stick board representation of just 13%. A doubling of this figure 0% identification and nomination of women quireddirectors, to ensure howa “hit thethe number” phenomenon doesn’t take hold. Small Medium Large S&P/TSX Total has allowed corporate Canada to keep pace with peers, but approach(Revenue <1$bn)to incentivize($5bn > Revenue >boards(Revenue > and$5bn) shareholders to chal- This might be in the form of appointing a couple of women to board $1bn) not leapfrog their progress, as more countries are also mak- company considers the representation of women in the board lengeSource: theirBloomberg, views TD Economics and practices on gender diversity. Howev- seats in order to avoid investor scrutiny. Or, when there’s a belief that Note: Horizontal bars correspond to the 2012-2014 average. Revenues are quarterly USD. er, like any regulatory or public policy initiative, measuring ing inroads with the aid of gender diversity policies. nomination and executive officer appointmentsdiversity is accomplished processes, with only one or two women. This skirts *2018 data is drawn from companies’ most recent filing, rather than annual TD Securities leases the top floor of progressreports as in previousis fundamental years. Data is still consistentin assessing for comparison its purposes.effectiveness and and whether there are adopted targets fundamentalat either changethe withinboard candidate selection and searches. One of the criticisms some offer on board policies that whether any adjustments are needed. 2 Dublin Expansion One Molesworth Street, a premier new target gender diversity is that it may cause a phenom- or executive officer level. Choosing to dohttp://economics.td.com none of the above @TD_Economics Broad based progress since 2015 enon called “overboarding” or sometimes referred to as the office space in the heart of Dublin. requires an explanation. “golden skirt” in specific reference to women. Institutional TD’s 2013 Report - Rationale for Comply or Chart 2 : Share of Board with Zero Women With only four years since the policy cameExplain into effect,Policy it has A picture says a Directorsthousand has Droppedwords. Chart 1 shows a clear ac- Shareholder Services (ISS), a proxy advisor firm, defines Distribution of Firms by Number of Women on Boards, % “We are excited about the opportunities for celeration60% in the share of women on S&P/TSX corporate “overboarding” as the same individual sitting on more than been highly effective in a number of areas. First, there has been 54.8% When we investigated solutions to address Canada’s poor boards50% post-2015. Prior to that period,2012 the shares moved four boards. This stigma against women may have become TD Securities in Ireland and this announcement a notable increase in the share of womenboard on diversity boards record across within the S&P/TSX, there was a 2013 around ever so slightly from year-to-year,37.8% but came up rooted during the early years of Norway’s quota implemen- clear divide between countries championing hard lined 40% 2014 all industries and across all firm sizes. Second, there has been against a low ceiling, particularly 2015when it came to small- tation, when there was some concern of a small number of marks another milestone in the expansion of our quota-based systems versus those preferring a more mar- 30% 2016 ket-driven C/E disclosure policy. Quotas mandating the er sized firms. In fact, this group2017 has shown the greatest women occupying a large number of board seats. However, a rapid decline in the share of boards with zero women. Third, 20% 2018* business there. Our increased presence in Dublin share of women of boards were gaining popularity within transformation, with a doubling in female board represen- this phenomenon is not unique to women and has declined comparing across countries, C/E disclosure policies appear as 10% 7.5% a number of European countries, acting as a blunt (but ef- tation in just four years, after virtually no movement in the significantly in recent years under increased board work- will help us support our growing global business, effective at increasing women on boards fective)as quotas, tool for withaltering the gender representation. However, 0% three years0 preceding the1 or 2policy. Looking3 or more at the data in a loads and shareholder scrutiny. Within Canada, a 2017 they came with greater risk of unintended consequences. meet the evolving needs of our clients and respond passage of time. Number of Women on Board In particular, quotas ran afoul of harnessing market and Source: Bloomberg, TD Economics to the changing regulatory environment.” However, corporate Canada’s journey is noteconomic yet complete. forces to address Most root causes like biases or candi- date search and nomination practices. In addition, quotas slightlyhttp://economics.td.com different manner captures another notable area of @TD_Economics risked stigmatizing qualified women on a corporate board publicly traded companies fall short of the important minimum improvement. There has been a rapid collapse in the share by carrying the perception of being the antithesis of merit. Peter Walker of firms with no women on their boards (Chart 2). In 2014, 30% threshold that constitutes critical mass. Continued progress Vice Chair and Regional Head Europe & Asia-Pacific In contrast, C/E disclosures gave shareholders the tools 40% of the firms on the S&P/TSX had zero women on must be made by smaller firms, which account for 63% of the their boards, a share that had not moved in at least three TD Securities to hold firms accountable on genderC ontact:diversity at the board board seats on the S&P/TSX. In addition, andC/E senior policy executive has level. not We preferred this policy since years. This stood at less than 10% in 2018. it rejects a one-size-fits-all approachPeter and Walkermitigates some compelled an improvement in the representation of women On the international stage, Canada has stabilized its place of the downside risks related to non-marketVice Chair, solutions. Head In of Europe & in the rankings (Table 1, page 3). This data uses a more nar- within the senior executive rankings of firms.addition, A similar there wasoutcome evidence of progress occurring within Asia Pacific row set of firms relative to our S&P/TSX measure. When Australian and UK publicly listed firms, which were early- q was also noticed with countries that mandated diversity quotas. TD Securities we wrote the original paper in 2013, the international adopters of versions of C/E policy. T: +44 (0)20 7448 8354benchmark was 2011 data, in which Canada ranked higher Institutional shareholders are increasingly acting on the To learn more about TD Securities, visit tdsecurities.com With the OSC enforcing a C/E [email protected] rule in 2015, than it does today, but did so with a much lower female information that C/E disclosures provide inthis order was essentially to influence opting for a carrotwww.tdsecurities.com rather than a stick board representation of just 13%. A doubling of this figure Toronto New York London Singapore Hong Kong has allowed corporate Canada to keep pace with peers, but companies towards greater gender diversity.approach A to numberincentivize boardsof and shareholders to chal- 1 416 307 8500 1 212 827 7000 44 20 7920 0272 65 6434 6000 85 2 2846 4111 lenge their views and practices on gender diversity. Howev- not leapfrog their progress, as more countries are also mak- er, like any regulatory or public policy initiative, measuring ing inroads with the aid of gender diversity policies. progress is fundamental in assessing its effectiveness and One of the criticisms some offer on board policies that 18 whether any adjustmentsSUMMER are needed. 2019 target gender diversity is that it may cause a phenom- © The Toronto-Dominion Bank 2018. Services if any described in this advertisement are subject to applicable local legislation and regulation. Broad based progress since 2015 enon called “overboarding” or sometimes referred to as the “golden skirt” in specific reference to women. Institutional A picture says a thousand words. Chart 1 shows a clear ac- Shareholder Services (ISS), a proxy advisor firm, defines celeration in the share of women on S&P/TSX corporate “overboarding” as the same individual sitting on more than boards post-2015. Prior to that period, the shares moved four boards. This stigma against women may have become around ever so slightly from year-to-year, but came up rooted during the early years of Norway’s quota implemen- against a low ceiling, particularly when it came to small- tation, when there was some concern of a small number of er sized firms. In fact, this group has shown the greatest women occupying a large number of board seats. However, transformation, with a doubling in female board represen- this phenomenon is not unique to women and has declined tation in just four years, after virtually no movement in the significantly in recent years under increased board work- three years preceding the policy. Looking at the data in a loads and shareholder scrutiny. Within Canada, a 2017

http://economics.td.com @TD_Economics TD Securities

TD Securities leases the top floor of Dublin Expansion One Molesworth Street, a premier new office space in the heart of Dublin.

“We are excited about the opportunities for TD Securities in Ireland and this announcement marks another milestone in the expansion of our business there. Our increased presence in Dublin will help us support our growing global business, meet the evolving needs of our clients and respond to the changing regulatory environment.”

Peter Walker Vice Chair and Regional Head Europe & Asia-Pacific TD Securities

q To learn more about TD Securities, visit tdsecurities.com Toronto New York London Singapore Hong Kong 1 416 307 8500 1 212 827 7000 44 20 7920 0272 65 6434 6000 85 2 2846 4111

© The Toronto-Dominion Bank 2018. Services if any described in this advertisement are subject to applicable local legislation and regulation. CUKCC│EVENT RECAP

ENERGY, MINING & NATURAL RESOURCES

Mining & Natural Resources Forum: Digital Transformation

The Chamber’s Mining & Natural Resources Forum welcomed • Steve Wilson, CEO & Co-Founder, Datum360 members and guests to Canada House for an evening reception • Tim Sylow, Global Director, R&D, Innovation & Technology, entitled ‘Digital Transformation in the Mining Sector.’ ArcelorMittal Jeanne Els, Director Digital Australia Asia at Hatch, moderated The Chamber would like to sincerely thank our guest speakers the discussion with panelists: and our sponsors Hatch and Gowling WLG UK as well as Simon • Anthony Downs, Principal Consultant, Hatch Malin, Chamber Board Director & Co-Chair of the Mining & • David Brennan, Partner & Co-Chair Global Technology, Natural Resources Forum, for their support on this event. Gowling WLG

20 SUMMER 2019 CUKCC│FEATURES

ENERGY, MINING & NATURAL RESOURCES

Where is UK nuclear going?

Author: Harry Spencer, Senior Account Manager, Madano. see a nuclear energy plant delivering power, heat and hydrogen electrolysis, for example. Achieving a net zero carbon economy by 2050 will require deep Finally, while the Government can adopt a new long-term decarbonisation across the board. Nuclear can play a key role pathway for nuclear technologies, and a tweaked regulatory in achieving this target, and not just through power generation. regime to ease deployment, several voices opined that the Event attendees pointed to the potential role of nuclear energy industry itself needs to change by working together. as a source of heat for residential or industrial networks and for In particular, the industry needs to be more collaborative and use in hydrogen electrolysis. proactive, in making clear the role it can play in decarbonisation However, there are significant barriers to achieving this new role – and in what it needs from Government to do so. It cannot for nuclear. wait for Government to take the lead. If it can do so, there is Firstly, outside investors are concerned at the lack of a market clearly a major role for nuclear energy of all kinds in the new framework to deployment for most nuclear projects – a decarbonised economy. major problem given the extended cost and length of nuclear development when compared to competitors. As observed by one attendee, institutional investors from home and abroad are desperate to invest in UK infrastructure, but feel that the lack of policy certainty makes this impossible. Contact: Another related barrier is a regulatory regime that focuses Matthew Moth on the “strike price” of a given technology, a calculation which Founding Partner ignores the wider benefits for the UK’s energy system of nuclear Madano according to one of our guests. T: +44 (0)20 7593 4000 [email protected] This means that the benefit of nuclear in providing more system www.madano.com inertia is not included in assessments of value. This approach also struggles to account for innovative new proposals, which could

Former Shell Technology Centre Calgary to become innovation hub

The Innovation Hub will be a centre for research excellence and oil and gas activities, and also the renewable energy sector, innovation to help build and grow the promising life sciences sector including wind energy. of the Calgary economy. It will be used by students, researchers, “Going forward, Shell will continue to advance our research start-ups and companies to interact, create and explore new ideas and development activities with third parties and at our other and concepts, as well as provide dedicated wet lab and office operating sites in Canada. For example, it may surprise that we space for companies that are developing and growing. drill long lateral wells in Argentina, more than 10,000 km away, For 35 years, the teams who worked at the STCC provided from our downtown Calgary head office using remote technology. laboratory and technical services to Shell’s upstream and “It’s fitting that this location will continue to spur innovation in downstream businesses in Canada. This ranged from research into Alberta as the new Life Sciences Innovation Hub, supporting the improving oil and gas recovery and innovations in transportation next generation of breakthroughs and Alberta’s future economy.” fuels and lubricants, to award-winning breakthroughs. For The University of Calgary has named the main atrium entrance of example, in the early 2000s a Shell employee and research the Life Sciences Innovation Hub the Shell Atrium in recognition partner were awarded the prestigious ASTECH innovation award of Shell’s generous philanthropic support toward the acquisition for their work on improving oil sands yields using paraffinic froth of this building. treatment – now the core technology used in Alberta. Contact: At the announcement event, Shell Canada President and Country Alex Trott Chair Michael Crothers shared remarks alongside Elizabeth Senior Advisor, Government Relations Cannon, President of the University of Calgary. Shell International Ltd “We are pleased to be here today to pass on this building and its T: +44 (0)20 7934 1234 [email protected] legacy of outstanding science and analytics to the University of www.shell.com Calgary,” said Michael Crothers. “Our Shell teams in this building spent decades supporting research and innovation in traditional

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Chamber member, GHS Global Hospitality, represents over 180 independent partner hotels located in key destinations across the globe ranging from prime city centre corporate hotels in locations such as London, Frankfurt, Dubai, Milan, New York, Chicago and Sao Paolo to major MICE destinations and pristine resorts in the Maldives and Sri Lanka. The diverse facilities and unrivalled service provided at our Hotel Partners can meet the requirements of the most discerning travellers, whether for leisure or business, and Bedroom at Hotel X in Toronto, Canada have made them a preferred choice for many international corporations. Travelling for business?

Travelling to Canada? Conveniently located in central Poznan, Poland, with 9 conference and banqueting rooms and a wellness centre, design hotel IBB Take advantage of the special offer exclusive to Vhamber Andersia Conference Centre & SPA is ideal for meetings and members from Hotel X Toronto – get 15% off the best available events. The hotel, a 19-floor skyscraper is a well-known landmark rates, including breakfast and a complimentary fitness class if in the city and has the capacity for 600 delegates. booked under the code ‘CCC’. Godfrey Hotel Chicago boasts one of the most-sought after Looking for holiday inspiration? rooftop venues in the city – the IO Urban Rooftop bar and lounge featuring a retractable roof, an indoor bar and outdoor With Paris only hours away, and the City of Light remaining lounge with fire pits – all housed in super sleek Cubist-inspired one of the world’s most visited destinations, take a city architecture. Capable of hosting 300 people, this luxury break at Hotel Cambon. This 4-star private mansion house is boutique hotel located in the stylish River North neighbourhood exceptionally located on one of the prestigious streets of Paris has 221 generously-sized, stylist bedrooms, perfect for a US in the heart of the city’s most elegant shopping and art districts. business incentive. The Alcron Hotel is a stunning 5-star Art Deco property in Prague, home to The Alcron, a Michelin-starred restaurant from For further information visit www.g-h-s.com 2012 – 2017 and the elegant Be Bop Lobby Bar. Ranked among To book or enquire about any GHS hotel, the best hotels in Central Europe by Readers’ Choice Awards email [email protected] quoting ‘CCC’. 2015 by Condé Nast Traveler and located only 100m from Wenceslas Square, this unique hotel is worth a long weekend away.

For Summer breaks With over 100 years of service, Amadria Park has a rich and varied Adriatic hospitality heritage, reflected in all 12 unique Croatian hotels from the vibrant Zagreb to the beautiful coasts Contact: to their intimate villas. Laura Westcott Partnerships & Community Featuring Amadria Park Jure, a contemporary, beach- Engagement Manager themed hotel with sea-facing, interconnected open spaces, GHS Hospitality T: +44 (0)20 7152 4120 complemented by a day spa with its own outdoor pool, a [email protected] separate guest infinity pool and luxury En Vogue Beach Club www.g-h-s.com close by.

CANADA-UK CHAMBER OF COMMERCE 23 CUKCC│FEATURES

BUSINESS LEADERSHIP

Come From Away: Executive development in an evening

The most cost effective leadership development with your engaged in problem solving, and involved in the work that executive team this year may simply be to take them to a mattered most driving to a unified feeling of belonging. performance of ‘Come From Away’, followed by a great The leaders truly listened to people, took a personal interest conversation and beer/wine/screech! in them, gave them the space to surface their concerns, Today, more than ever, we are living in a world where events encouraged people to engage, read non-verbal communication shock people, organisations and communities; causing disruption clues, genuinely recognised and respected all aspects of their to our lives and businesses. diversity and valued their input, got to know one another on a It is a world where the emerging gig, machine and data personal level, and most importantly empathised with them. All economies are changing the way we engage labour, capital and of this meant that trust was developed and shared. manage risk. It is a world where navigating through significant What CEO wouldn’t what that from their team? change demands uplifting leadership that cuts through the bull An evening at the Phoenix theatre with your team, could be one and finds a way to successfully take people forward. of the most productive and entertaining you spend this year. Allegorical leadership books and courses are popular, but there Square Peg International is a recognised practice of the UK Institute is no better example of abundant leadership than the story of Business Consulting and the Institute of Certified Management brought to life in the critically acclaimed ‘Come From Away’. Consultants of Canada. This award winning West End musical brings to life characters who exude great authentic, empathetic and situational leadership. Set in the week following the September 11 attacks, ‘Come From Away’ tells the true story of what happened when 38 planes were ordered to land unexpectedly in the small town of Gander, Newfoundland. The characters in the musical are Contact: Doug Ross based on real residents as well as some of the 7,000 stranded Managing Director travellers they housed and fed. Squarepeg International Under the stress people clashed and nerves ran high, but T: +44 (0)7717 665007 uneasiness turned into trust. Strangers and outsiders were [email protected] www.squarepeg.com welcomed, diversity was celebrated, and people were valued,

Chamber SME Forum

The SME Forum holds 3-4 events per year aimed at SME Previous events held for the SME Forum include: businesses and entrepreneurs. The SME Forum is led by: • ‘Business traps for the unwary – and how to avoid them’ SME Forum Co-Chair & Chamber Board Director • ‘SCALING UP TO A BILLION: Ingredients for a unicorn’ Richie Clark, Partner & Head of Corporate at Fox Williams LLP • ‘Where are you on your Entrepreneurship Journey?’ Co-Chairs & SME Members • ‘The development of a financial services & smart cities tech Roz Morris, Managing Director at TV News London cluster’ with Claire Cockerton Steve Ord, Director at Colourview Print Solutions • ‘Crowdfunding: How to fund and expand your business with The SME Forum invites members to quarterly meetings to discuss debt and equity sourced from the crowd’ with Nicola Horlick events and topics of interest. To attend a quarterly meeting, • ‘Going international with your business – the pitfalls’ please contact the secretariat [email protected]

24 SUMMER 2019 CUKCC│EVENT RECAP

BUSINESS LEADERSHIP

The SME Forum Leadership Series

The Chamber’s SME Forum has been very active having recently in alternative finance: my experience building great teams’ hosted a breakfast briefing, evening reception and several with Jon Segal, Partner at Fox Williams LLP moderating. The workships for members and guests since January. Chamber would like to thank Fox Williams LLP for sponsoring In February, Phil Pallen, Brand & Social Media Strategist, lead the evening. a half-day workshop entitled: ‘Winning Business by Winning In late April, the Chamber partnered with accountancy firm Instagram’. Phil detailed the musts of having an online presence Menzies LLP to deliver a breafast briefing on ‘Increasing on Instagram, how to get more followers, more leads, more sales business value – improve profit and reduce risk’ with guest and have more fun while doing it. Special thanks to McCarthy speaker Chris Maloney, Partner. Chris lead a very productive Tetrault for hosting us at their offices. If you are a SME and session sharing his insights and advice on what business would like to co-host a workshop with the Chamber, please elements drive value with a number of case study examples of contact the secretariat [email protected] errors, oversights and successes. Many thanks to Menzies LLP A month later the Chamber was pleased to welcome back Nicola for their support of this event. Horlick, CEO at Money&Co, to discuss ‘Being an entrepreneur

CANADA-UK CHAMBER OF COMMERCE 25 CUKCC│FEATURES

YOUR FINANCES

Why foreign exchange may be your biggest investment risk

Most people who invest for their future consider the riskiness of the stocks, bonds and other investments in their portfolio – which is entirely appropriate. Stocks are held out to be ‘riskier’ and bonds are supposed to provide a level of safety when the stock market goes pear-shaped. But what if you’re living, and earning, in a different country than the one in which you might live in the future? Specifically, what if you are living in the UK, earning and saving pounds, but are likely to want to spend your savings in Canadian dollars (e.g. on a child’s education or your retirement home)? Then your greatest investment risk is almost certainly the value of the pound versus the value of the Canadian dollar. For example, a Canadian living in London who, say, made their money during the 2000s, responsibly saved it and then moved back to Canada in 2010 would have seen those savings decline by as much as 40% in Canadian dollar terms (all else being equal). 40%! That’s almost as much as stock prices fell during the financial crisis. While this is an extreme example, it highlights the inherent foreign exchange risk faced by the internationally mobile. It’s possible to mitigate this risk, usually by owning a greater proportion of Canadian dollar denominated investments than is typical for someone living in the UK. Managing the risk is most straightforward when the investor knows precisely when they will leave the UK. Of course, most expats know that “going home” is Contact: usually a nebulous target (mine was 2007…). So the planning has to take account Scott Tindle not just of the possible timing but whether the move will happen at all – owning a Founder & Chief Investment Officer high proportion of Canadian dollars when you decide you’re actually staying in the Tindle Wealth UK is equally risky. T: +44 (0)20 7350 5474 [email protected] With a bespoke portfolio – one that is truly crafted for your unique circumstances www.tindlewealth.com – foreign exchange risk can be mitigated and you can be more confident that your UK earnings will translate into the quality of life that you desire for you and your family, whether that is in Canada, the UK or elsewhere. Changing lives by restoring sight

Worldwide, 253 million people are blind or visually impaired school. This gives families the opportunity to build a brighter but 80% don’t have to be. Their visual impairment can be future and help break the cycle of poverty. cured or could have been prevented. The pinnacle of our work is declaring entire communities as That’s why Operation Eyesight has been working since 1963 avoidable blindness-free. This means that all residents in a to prevent blindness and restore sight. We’re a Canadian community identified with curable eye health issues have international development organization working towards received treatment and everyone in the community has eliminating avoidable blindness with the help of our partners access to ongoing quality eye care. And even better, residents and donors. Today, we have programs in Africa and Asia, understand the importance of visiting a vision centre or where blindness can be deadly, especially to those young, old hospital when they need help, and they’ve been empowered or poor. to take responsibility for their eye health needs. We work in partnership with local hospitals, governments and community development teams building essential resources that give everyone, regardless of age, race, gender or ability to pay, access to quality eye care. Our program model enlists the help of local women who are trained as community health workers. They conduct door- to-door surveys, screening everyone in their community and Contact: referring those with eye problems to our partner hospital or Aly Bandali vision centre for treatment. They teach community members President & CEO the importance of eye health and educate them on other Operation Eyesight health topics such as nutrition and maternal health. T: +1 (403) 283 6323 [email protected] The ripple effect of one person’s sight being restored is www.operationeyesight.com immense. Restored sight means that men and women can work to support their families and children can go back to

26 SUMMER 2019 CUKCC│FEATURES

YOUR FINANCES

The ESG opportunity: Three factors to consider when building your legacy

Balancing social considerations with financial goals can be a long-term perspective, understanding what the client wants to challenge, but one that investors are increasingly willing to achieve and educating them on the methodology, challenges tackle through an Environmental, Social and Governance (ESG) and opportunities available. strategy, particularly in the UK. With the ESG industry still in its infancy, significant expertise is required to build a portfolio that 3. ESG investing does not necessarily mean sacrificing balances financial goals with ethical principles. returns RBC Wealth Management views potential investments through Undoubtedly, a concern for many is that investing with and ESG the lens of environmental, social and governance factors bias will result in a portfolio that generates a lower return. along with traditional investment criteria. Their ESG analysis There’s little data at this stage tracking the returns of ESG goes beyond excluding companies in industries deemed to be portfolios versus other portfolios, although investment research involved in a controversial or unacceptable activity, such as firm Morningstar published a report this year that found US weapons manufacturing, alcohol production or the extraction of investment managers who considered sustainability factors in fossil fuels – a practice known as “negative screening” or “ethical their investment process in the three years between 2015 and investing”. They consider how companies can adopt best-in- 2017 outperformed their investment category by 57%, 55% and class ESG practices such as stronger policies to protect the 54% respectively. health and safety of employees, ethical patient trials and how There’s a Warren Buffet quote about playing the long game to operate with the intention of generating positive social and in investing that reads: “Someone’s sitting in the shade today environmental impact – a practice known as “impact investing”. because someone planted a tree a long time ago.” With Here are three considerations investors should know about the favourable demographics and a push from international bodies, burgeoning ESG arena: there’s good reason to see ESG investing as a long-term way to add value and mitigate risk in a portfolio, but to also look beyond 1. Investing reimagined those traditional investment metrics. While social investing traditionally used to involve negative screening, ESG investing takes a more proactive approach, says Read more RBC research and insights: Eleni Karadimitri, product specialist at RBC Wealth Management www.rbcwealthmanagement.com/gb/en/research-insights/ in London. For instance, an ESG fund can enhance returns and mitigate risk by using proxy voting and engaging in an active dialogue with companies to elicit a change in the company’s behaviour on ESG issues such as climate change, resource depletion, labour conflicts, etc. The goal, she says, is to not simply invest in companies that align with ESG principles, but to help encourage those behaviours which can help companies avoid controversies.

2. The ESG universe is widening By looking beyond negative screening, the universe of potential ESG investments is broad and set to grow significantly, says Karadimitri. Contact: John Younger RBC Wealth Management has in-house ESG experts who work Managing Director to find ESG investment options to fit any portfolio. When Royal Bank of Canada discussing potential alternatives and strategies with clients, T: +44 (0)20 7429 8940 it’s in the context of their overall wealth planning and legacy [email protected] www.rbc.com goals, says Chrys Vakla, Director, Relationship Management, at RBC Wealth Management in London. The approach is from a

CANADA-UK CHAMBER OF COMMERCE 27 CUKCC│EVENT RECAP

DIVERSITY & INCLUSION

International Women’s Day

The Chamber was delighted to launch its first inaugural Our impressive panel included: International Women’s Day event in March. • David Nielly, Global Director, Human Resources at Hatch Canada’s High Commissioner to the UK H.E. Janice Charette • Kshamta Kaushik, MD & Head, European Corporate & welcomed guests to Canada House followed by Keynote Investment Banking at Scotiabank Speaker Jessica Peacock, Head of Inclusion & Research at • Lorna Gavin, Head of Diveristy, Inclusion & Corporate INvolve, starting things off with an address on ‘Womenomics: Responsibility at Gowling WLG UK Why elevating women in the workplace is good for business’. • Parul Kaul-Green, Head of Group Innovation at AXA NEXT Anna Baird, WNORTH, moderated the panel debate. Labs Europe The Chamber would like to thank co-hosts The High Commission of Canada and WNORTH as well as sponsors: Gowling WLG UK, Hatch and Scotiabank.

Chamber Diversity & Inclusion Forum

The Chamber’s Diversity Forum launched in 2018 with the objective to promote and support equality, diversity and inclusion in the Membership and Events Programmes. Vice President Leslie Stephenson is chairing the Diversity Forum and is keen to engage with potential speakers. The Diversity Forum Co-Chair & Chamber Board Director Leslie Stephenson, Head of Governance & Control at HSBC Co-Chairs & Members Mala Manku, CEO at Cavendish Group Karin King, Doctoral Candidate & Guest Lecturer at LSE If you would like to get involved in the Diversity Forum, please contact the secretariat [email protected]

28 SUMMER 2019 CUKCC│FEATURES

TECHNOLOGY UPDATE

The 5G revolution is coming, what does it mean for you?

We’re about to break the next barrier in connectivity by building In healthcare we’re looking at virtual medical consultations and a 5G world, but this requires a revolution – in thinking, planning, remote robotic surgery. In social care, wearable tech will support and implementation and, so far, thinking is not yet mature. older people to live at home for longer. From reducing pollution and congestion, to helping people to shop, learn and explore Moving far beyond the Smart City wherever they are – 5G is coming. It’s predicted that approximately a million devices per square kilometre will connect to the UK’s 5G network in cities, as What’s next? opposed to the 10,000 to 20,000 devices you currently find So what’s the next step to make 5G a reality in the UK? The connected in the average city environment. This step change UK needs to bring the ecosystem of consultants, network gives a hint of the wide-ranging effects of the creation of 5G operators, equipment vendors, politicians, cloud providers and Urban Connected Communities (UCC). They’ll go far beyond end users together, learning from other countries like Canada today’s vision of what a Smart City can achieve, embracing with experience of 5G rollout. And what will it mean for the instead the concept of the city-as-a-platform where everything public and private sector in the UK? Get in touch to discuss in a city is connected and can exchange data to drive outcomes what it’ll mean for you, and how your organisation can harness that meet needs in ways that, up to this point, have only existed the power of 5G. in the realm of science fiction. For more information or to start a conversation, visit Connected like never before www.cgi-group.co.uk/5G or contact Andrew Palmer at So what will the world of 5G look like? Imagine walking down a [email protected]. street where there are sensors on every lamp post and bus stop, as well as on the side of buildings, all using the fibre at street level to create an infrastructure around the city that means you’re always connected to your environment. In rural areas, satellite technology and other access technologies will connect more isolated communities to the ‘network of networks’ so that, wherever you go, you always have a seamless connection that you’ll take for granted. We’re only at the beginning of working out what we’ll be able to achieve with 5G, but what’s clear is that we need to dream big to reach far.

Sharing learning globally In Canada, the ENCQOR project is a transformational Canada- Quebec-Ontario partnership focused on research and innovation in the world of 5G disruptive technologies, adoption initiatives and system uses. CGI is working with other world- Contact: Andrew Palmer class digital technology companies to help deliver the five-year Communications Expert strategy to provide access to 5G networks to SMEs, researchers CGI UK and academia to deliver long-term economic growth. T: +44 (0)8450 707765 [email protected] A myriad of use cases for 5G are emerging both within Canada www.CGI.com and the UK, spanning industries as diverse as transport, retail, healthcare and agriculture.

CANADA-UK CHAMBER OF COMMERCE 29 CUKCC│FEATURES

TECHNOLOGY UPDATE

Technology, resources and how not to get lost

In today’s highly competitive private capital markets, organisations are facing the pressure to automate, digitise and optimise their internal processes. Firms are reinventing themselves, discovering more efficient ways of doing business and looking for ways to profoundly disrupt the industry they operate in. The same complexity that technology is meant to solve is the likely reason for the somewhat slow pace of tech adoption in alternative investments. Software solutions capable of handling the online syndication of private placements need to be able to fulfil a long list of requirements and include a wide spectrum of functionalities to fully facilitate the digitisation of private placements. Investing in automation and streamlining of internal processes is no longer a “nice to have” but a prerequisite. As the industry continues to evolve so will the companies looking to be its leaders. Understanding the industry pain points and technology requirements of client firms, Katipult developed a platform that solves some of the most important operational challenges in private placements by: reducing cost of operations, ensuring regulatory compliance and simplifying manual administrative tasks. Rising costs, shrinking margins and increased competition make operational efficiency a central challenge for the private capital markets sector. With more emphasis being placed on agile business practices, there is an increased need to “do more with less” reliably. This means finding new ways to reduce errors while containing, if not reducing, operating costs. Today’s dynamic financial markets require firms to ensure compliance in a rapidly changing environment. Financial institutions have no shortage of challenges: regulations vary by market, country, and asset class; all types of communications must be recorded, stored, and available for replay; and supervisory controls and conflicts must be managed effectively. Excessive reliance on manual tasks inevitably leads to effort being sunk in no value added tasks. Tasks such as validating data accuracy, generating forms, searching for filed documents or any number of similar tasks that divert your employees from their core responsibilities. Katipult’s private placement software allows organisations to automate many manual and labour intensive processes on an all-in-one platform capable of managing the entire private placement process.

Contact: Edward Mercati VP Business Development 25 Canada Square, London E14 5LB T: +44 (0)7584 160889 [email protected] www.katipult.com

Chamber Technology Forum

The Techonology Forum holds 3-4 events per year aimed at Previous events held for the Tech Forum include: profiling the Canadian-UK technology sector. The Technology • ‘Annual Cybersecurity Update’ Forum is led by: • ‘The Future of Audit: The AI Advantage’ Technology Forum Co-Chair & Chamber Vice President • ‘GDPR – Are you ready?’ • ‘Mastering Digital Transformation’ Matthew Grisoni Vice President CGI ISMC (UK) Ltd • ‘What every business needs to know about Quantum Technology Forum Co-Chairs & Chamber Board Directors Computing’ Bob El-Hawary, Timberline Consulting

30 SUMMER 2019 CUKCC│EVENT RECAP

TECHNOLOGY UPDATE

Technology Forum Privacy by Design & Accelerating Change

Recent Tech Forum events included a breakfast panel debate The event was enjoyed by over 60 guests at KPMG’s Number entitled ‘Privacy by Design: From Theory to Practice’, with Twenty. The Chamber would like to kindly thank KPMG for their opening remarks by Mark Thompson, Global Privacy Advisory sponsorship and assistance Lead at KPMG and Bob El-Hawary, Tech Forum Co-Chair. Guest The Tech Forum also hosted a breakfast briefing entitled speakers (photo below right) included: ‘Accelerating change – the impact of changing consumer and • Dr. Ann Cavoukian, Distinguished Expert-in-Residence at societal demands on UK mobility over the next decade’ with Privacy by Design Centre of Excellence, Ryerson University guest speaker Andy Barratt, Chairman and Managing Director at • Abigail Dubiniecki, Associate at Henley Business School Ford of Britain (photo below left). GDPR Andy discussed his thoughts on how car dealerships will have to • Sylvia Kingsmill, Partner, National Leader, Privacy, Information adapt to recognize online selling, sharing ownership, smart cities Management & Regulatory Advisory at KPMG and the transport infrastructure of tomorrow, which were truly • Oxana Iatsyk, General Counsel, Privacy Officer & Corporate inspiring and thought-provoking. Secretary at Ruby Life Inc Thanks goes to CGI and Madano for support of this event.

CANADA-UK CHAMBER OF COMMERCE 31 CUKCC│EVENT RECAP New Members enjoy evening at HSBC’s corporate art gallery

The Chamber hosted a joint networking New members featured included: reception together with the Canada-UK • Canada-UK Foundation Foundation and in partnership with HSBC. • London & Partners We welcomed new member companies and • Mayfair Cloud viewed HSBC’s corporate art collection. It • Montagu Evans was a fantastic evening of networking and • RCS of London perusing. Special thanks to Daniel Lancaster, Art Manager and HSBC for kindly hosting us.

32 SUMMER 2019 CUKCC│NEW MEMBERS

NEW CHARTER MEMBER: NEW CHARTER MEMBER: ABERDEEN STANDARD THE CANADA-UK INVESTMENTS FOUNDATION As a leading global asset manager, Aberdeen Standard Through programs such as Arctic Live, The Canada UK Investments is dedicated to creating long-term value for our Fellowship for Entrepreneurship and Innovation, Academic clients. The investment needs of our clients are at the heart of awards and seed funding for innovation, we contribute to both what we do. We offer a comprehensive range of investment UK and Canadian prosperity by building trust, connections and solutions, as well as the very highest level of service and skills which contribute to the excellence of both nations. We support. are actively seeking to expand the social impact of our grant making and direct service delivery by growing our fundraising and philanthropic outreach.

Contact: Contact: Simon Taylor Wanda Hamilton Client Director Americas CEO Global Strategic Clients Canada House, Trafalgar Square Bow Bells House, 1 Bread Street London SW1Y 5BJ London EC4M 9HH T: +44 (0)7432 650487 T: +44 (0)20 7872 4249 [email protected] [email protected] www.canadaukfoundation.org www.aberdeenstandard.com

NEW CHARTER MEMBER: NEW CHARTER MEMBER: EXPORT DEVELOPMENT NATIONAL BANK OF CANADA CANADA We are Canada’s export credit agency. Our job is to support Whether you are a corporate client, institutional investor or and develop Canada’s export trade by helping Canadian government entity, we provide you with the products, services, companies respond to international business opportunities. and expertise to help you achieve your goals. Our nearly We are a self-financing, Crown coropration that operates at 500 investment professionals, based in Montreal, Toronto, arm’s length from the Government. We provide insurance Calgary, Vancouver, New York, and London, are committed to and financial services, bonding products and small business understanding what is important to you. We operate as one solutions to Canadian exporters and investors and their team, without silos, to ensure that you get the expertise you international buyers. need, when you need it.

Contact: Contact: Stephen Wilhelm Daniel Duggan Regional Vice-President, EMEA General Manager, Head of London, UK Branch Canada House, Trafalgar Square 71 Fenchurch Street, 11th Floor London SW1Y 5BJ London EC3M 4HD T: +44 (0)20 7004 6297 T: +44 (0)20 7265 6500 [email protected] [email protected] www.edc.ca www.nbc.ca

CANADA-UK CHAMBER OF COMMERCE 33 CUKCC│NEW MEMBERS

CIDEL ASSET MANAGEMENT COVENEY NICHOLLS

Cidel is a Canadian-based global private bank and asset We offer a full range of accountancy, audit and tax services to manager that hepls high net worth individuals, families and companies, individuals, partnerships and medical professionals institutions protect and grow their wealth. Cidel’s expertise working in the NHS. We offer a free initial meeting to discuss spans three well integrated service areas: asset management; your requirements. So that we can really undersand what planning structuring & trust; specialised banking. Cidel is a is going on in your business, our fees are inclusive of ad hoc unique firm in the way it combines the scale and capability of a advice to give you certainty over costs while encouraging you large global bank, with the continuity and genuine commitment to engage with us on a regular basis. to service a boutique firm.

Contact: Contact: Lee Fernandes John Mabey Senior Wealth Consultant Partner 60 Bloor Street West, 9th Floor 2 Eaton Gate, London SW1W 9BJ Toronto, Ontario, Canada MLW 3B8 T: +44 (0)1737 223388 T: +1 (416) 928 4343 [email protected] [email protected] www.coveneynicholls.co.uk www.cidel.com

CURRENCIES 4 YOU CYBER TECH FACILITATION SERVICES We save our clients up to 5% on their international transfers, Facilitation of security technology into UK government but more importantly we make it stress free, save them time agencies and defense sectors. Advisor to a number of US and can make payments in over 130 currencies. Our team of security organisations. market experts can help find the right tools to protect you from any volatile fluctuations in the currency market when buying or selling your currency.

Contact: Contact: Alex Rawlings Peter Boxall Senior Currency Analyst Director Regus House, Victory Way, Admirals Park 6 Spinnaker View, Havant, Hampshire PO9 3JD Crossway, Dartford DA2 6QD T: +44 (0)7939 505955 T: +44 (0)1322 319550 [email protected] [email protected] www.hedgebookpro.com www.currencies4you.com

34 SUMMER 2019 CUKCC│NEW MEMBERS

INCEPTION GROUP K ATIPULT

Six years after the opening of the legendary Battersea bar Katipult is an award winning and market leading investment and pizzeria, Bunga Bunga, an Inception Group restaurant, has platform for private capital markets. Katipult digitises and come to Covent Garden with an even bigger and bolder vision automates private placements, while providing best-of-breed of the original. On the ground floor, discover a family pizzeria standards for elimintating transaction redundancy, enhancing and bar, BungaTINI. Below, accessed through the meat locker, investor experience and accelerating deal flow. Working with lies an incredible secret world serving an Italian sharing feast, a global client base, Katipult is bringing private placement extensive drinks menu and a variety show that is surprising and fulfilment into the future entertaining on every level.

Contact: Contact: Lucy Harrison Edward Mercati General Manager VP Business Development 167 Drury Lane 25 Canada Square, London E14 5LB London WC2B 5PG T: +44 (0)7584 160889 +44 (0)20 7590 3602 [email protected] [email protected] www.katipult.com wwwinception-group.com

KG MOORE LTD LAZARIDIS SCHOOL OF BUSINESS & ECONOMICS Our clients trust KG Moore marketers to become part of their The Lazaridis School of Business is one of the most prestigious team. We work alongside them to ensure marketing supports and selective schools in Canada. We teach our students to their growth objectives. We can become integral to your team. think for themselves, ensuring they can adapt to a world of We can become your SMART Marketers. We love working with ever-growing complexity. Our alumni are making a difference in forward-thinking companies who understand that marketing will the world, and you can too. We have more than 6,000 students help them achieve their growth objectives. enrolled in our full- and part-time undergraduate, graduate and diploma programs, making us one of the largest business schools in Canada.

Contact: Contact: Kim Moore Graham McCormick Director Corporate Engagement Officer 65 North Station Road, Colchester, Essex CO1 1RQ 64 University Avenue West T: +44 (0)1206 848458 Waterloo, Ontario, Canada N2L 3C7 [email protected] T: +1 (519) 884 0710 www.kgmoore.co.uk [email protected] www.wlu.ca/academics/faculties/lazaridis

CANADA-UK CHAMBER OF COMMERCE 35 CUKCC│NEW MEMBERS

MONEX EUROPE LTD MONTAGU EVANS LLP

Monex is recognised as one of the largest commercial foreign We have been providing expert advice in the property sector exchange specialists in the world, trading as a group $198bn in for nearly 100 years. Through our office network we are foreign exchange transactions per annum, operating throughout involved in some of the largest commercial, residential and North America, Europe, and Asia. Focused on providing a mixed-use property projects in the UK today. Partners at secure, personalised, efficient and flexible trading service to Montagu Evans have a hands-on style of working and are help its global client base of publicly listed companies, financial personally involved at all stages of a project – from inception to institutions, large corporations, SMEs and HNW private clients. completion and beyond – making critical decisions that ensure the best possible outcome for our clients each and every time.

Contact: Contact: Alastair Brigg John Prestwich Business Development Partner, Retail Property Management 1 Bartholomew Lane, London EC2N 2AX 5 Bolton Street, London W1J 8BA T: +44 (0)20 3650 6300 T: +44 (0)20 7312 7494 [email protected] [email protected] www.monexeurope.com www.montagu-evans.co.uk

NOVA SCOTIA BUSINESS INC PAUL MCVEIGH KEYNOTE SPEAKER Nova Scotia is home to thriving sectors including seafood and Paul McVeigh, football’s No. 1 keynote speaker, takes the many agri-food, ocean technology, ICT, cyber security, digital media, lessons he learnt from his 16 years at the top of his game as a natural resources, financial services and R&D. Our province is Premier League footballer for Tottenham Hotspur and Norwich known for its highly educated workforce, cost competitiveness, City and translates these into strategies for success for advantageous location, and ocean lifestyle. NSBI attracts global organisations from all different walks of business life. investment and works with companies to be more successful Since retiring from football, Paul has seamlessly made the exporters. We work with business across Nova Scotia and transition from professional athlete to keynote speaker international partners to help bring Nova Scotia to the world, alongside his regular spot as a sports presenter for Sky Sports, and the world to Nova Scotia. TalkSPORT and BT Sport.

Contact: Contacts: Sean Meister Paul McVeigh Advisor, Global Business Partnerships Keynote Speaker 1800 Argyle Street, Suite 701 PO Box 2374 45 Henley Road, Norwich, Norfolk NR2 3NL Halifax, Nova Scotia, Canada B3J 3E4 T: +44 (0)7894 584772 T: +1 (902) 424 4147 [email protected] [email protected] www.paulmcveigh.co.uk www.nsbi.ca

36 SUMMER 2019 CUKCC│NEW MEMBERS

PROMETHEUS EVENTS INC PROVIDENT COMMUNICATIONS How brands act is more important than what they say. With decades of experience working with, and for, some of We create experiences that strengthen the relationships the world’s biggest organizations, we craft and tell stories that between brands and the people who matter most to them. resonate and get results. We turn executives into thought Clients build a better customer experience by investing in leaders, companies into valuable sources of information, issues event & experiential, integrated campaigns, digital & content, into opportunities, and creative content into consumer action. sponsorship marketing and employee engagement. We also have special skills in public events, exhibits, broadcast design, immersive and inventive technology and moving image.

Contact: Contact: Mohamed Serkhane Morgan McLellan Project Manager Senior Account Director 6000 Ch. de la Cote-des-Neiges, Suite 570 340 King Street East, 2nd Floor Montreal, Quebec, Canada H3S 1Z8 Toronto, Ontario, Canada M5A 1K8 +1 (514) 690 9946 T: +1 (604) 825 5009 [email protected] [email protected] www.prometheusevents.ca www.providentcomms.com

SHANGRI-LA, AT THE SHARD, STRAIGHTVIEW LONDON INTERNATIONAL Feel an unparalleled connection to London, at Shangri-La Hotel, Strategic intelligence, decision-making and execution in complex At The Shard, London. Stay in the capital’s highest hotel, in one and culturally sensitive environments. Wide cross-sector/ of the world’s most iconic buildings, whilst enjoying panoramic market expertise acquired in a global career working in and skyline views that connect you to the whole city. This is the with MNCs, governments, private equity management and civil only five-star luxury hotel in London Bridge, contrasting sleek society organisations. Piers currently holds Board, executive and modern style with the area’s rich historic character. Connect advisory roles with high-growth companies. with the real London in our vibrant neighbourhood, balancing old and new, raw and refined, traditional and visionary.

Contact: Contact: Rana El Zein Piers Cumberlege Director of Business Development Chair Shangri-La Hotel, At The Shard, 1 St Thomas Street The Old Casino, 28 Fourth Avenue, Hove BN3 2PJ London SE1 9QU +44 (0)7447 314880 T: +44 (0)20 8747 8484 [email protected] [email protected] www.linkedin.com/in/pierscumberlege www.shangri-la.com/london/shangrila

CANADA-UK CHAMBER OF COMMERCE 37 CUKCC│NEW MEMBERS

THE LONDON CHAUFFEUR TINDLE WEALTH RCS OF LONDON LTD MANAGEMENT Robinson Chauffeur Service provides chauffeurs and a range Tindle Wealth Management provides bespoke financial planning of specialized luxury chauffeur services for executives, families and investment management services for individuals and their or anyone who needs a prompt, respectful, courteous and families. With a particular focus on clients with complex affairs professional means of travel. We offer airport transfers, day, that often span multiple jurisdictions, TindleWealth has the evening and full-time contract hire. Our quality chauffeur expertise to design, implement and manage portfolios that give services extend from London to Paris, Monaco, Rome, Milan, our clients the greatest likelihood of achieving their financial throughout Germany, Russia or even to Norway or Iceland. aspirations. Discretion and privacy are assured at all times and destinations.

Contact: Contact: Vince Robinson Scott Tindle Managing Director Founder & Chief Investment Officer Suite 10, Rainham House, Manor Way 124 Goswell Road Romford RM13 8RM London EC1V 7DP T: +44 (0)20 3551 7127 T: +44 (0)20 3858 0637 [email protected] [email protected] www.chauffeurservicelondon.com www.tindlewealth.com

TOP PROFESSIONAL UNIVERSITY OF CALGARY RECRUITS We work with freelance professional recruiters with a UCalgary offers students a high-quality educational experience specialism in almost every professional sector. Our hybrid that prepares them for success in life, as well as research that recruitment agency still provides the full service of a traditional addresses society’s most persistent challenges. Our creation recruitment agency, whilst opening unique opportunities for and transfer of knowledge contributes every day to our expert freelance professional recruiters to work alongside us; to country’s global competitive advantage and makes the world a support the ever demanding needs of the business world. better place. We’re pioneers at heart, innovators by necessity and desire, and community-builders because it’s in our DNA.

Contact: Contact: Rifat Sheikh Christine Verdonck Director Director, Community & Strategic Engagement 207 Regent Street, London W1B 3HH 2500 University Drive NW T: +44 (0)20 3953 7640 Calgary, Alberta, Canada T2N 1N4 [email protected] T: +1 (403) 220 5110 www.topprofessionalrecruits.com [email protected] www.ucalgary.ca

38 SUMMER 2019

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