Old Town Toronto is the old town of the largest Canadian metropolis. However, instead of having a quiet, historical small scale character, with its numerous skyscrapers, the district is one of the economically strongest on Lake Ontario. It is no wonder then that LBBW has established its North American business in the shadow of the famous CN Tower to support real estate, corporate and capital market customers in their businesses.
Steve Gagro heads the representative office with two employees and knows the market on Lake Ontario well. For the past 15 years he has gained real estate financing experience with leading Canadian banks. Thus, he will be focusing on supporting real estate customers and projects in the city centers of Toronto, Vancouver and Montreal.
Canada has a stable market outlook for the long term and an attractive risk/reward ratio. We have operated successfully in this market for a number of years already via our New York branch, says Patrick Walcher, Head of Division. The real estate financiers are still focusing on prime real estate in top locations.
Canada is becoming increasingly interesting for German business
The new representative office also supports the bank's corporate customers in their activities in Canada. The new CETA free-trade agreement between Canada and EU member states will make the Canadian market an increasingly interesting prospect for German business, explained Matthias Heuser, Head of International Business at LBBW. Ultimately, the representative office will also cater to Canadian banks and institutional investors with whom LBBW has worked for many years, for example in the issuance of securities.