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The Global Risk Institute and Finance Montreal Announce Collaborative Agreement

NOVEMBER 5, 2013


Agreement will enhance Canada’s international reputation for financial risk research and risk education

New risk research and education activities are planned with financial institutions and universities in Québec and across Canada

The Global Risk Institute in Financial Services (GRI) and Finance Montreal (FM) today announced the signature of a Memorandum of Understanding (MoU). The two organizations will collaborate with Canadian and international universities on joint risk research and education projects focused on risk management for the benefit of the financial services industry across Canada and around the world.

“This agreement is a great example of how financial centres can work together to everyone’s benefit”, said Dr. Michel G. Maila, President and CEO of the Global Risk Institute. “Since its inception two years ago, the Global Risk Institute has launched research programs in five different areas and made significant investments in a range of education activities, all of which are designed to help strengthen risk management capabilities in the financial services sector. Today’s announcement represents a significant milestone in our development as a pan-Canadian and global reference for research and education in financial risk.”

Mr. Eric Lemieux, Chief Executive Officer of Finance Montreal, added, “This partnership is testimony to the talent and expertise found in Montréal and how we can build strategic alliances across Canada to increase the country’s reputation as a world class leader in financial risk management – a position which was clearly demonstrated during the 2008 financial crisis. This agreement capitalizes on Montréal’s financial industry’s strengths and consolidates our national expertise in this domain.”

The collaboration between the Global Risk Institute and Finance Montreal will be guided by a group of risk practitioners from both organizations and their members, which will meet on a regular basis to review progress with Quebec-based organizations and agree on future projects.


Founded by representatives from Canada’s private and public sectors, the Global Risk Institute in Financial Services enables financial institutions, policy-makers and regulators to better manage the balance between risk and opportunity. Its mandate is the provision of applied research and education programs that build risk capacity and stimulate evidence-based debate for all those engaged in risk management in the financial services sector around the world. Over the past year, GRI has concluded research agreements with the Universities of Toronto, Waterloo and Calgary; McMaster University, the International Centre for Pensions Management at the Rotman School of Management, Toronto and La Fondation du Risque/Institut Louis Bachelier in Paris, France. Researchers currently working on GRI projects are drawn from around Canada, the United States, the UK and Europe. In Risk Education, GRI works with leading educators and experienced professionals from across Canada and further afield to enhance skills and build risk management capacity.


Finance Montréal, Québec’s financial cluster, was created in 2010 by major players of the financial services industry at the invitation of the Québec Government. Finance Montréal’s mission is to continuously expand Montréal’s reputation on the world financial markets, promoting the city as a strong and innovative industrial hub that contributes to Québec’s economic development. The organization helps strengthen Québec’s financial sector by generating growth in high value-added financial activities strategic to its development. A non-profit organization with 22 Governors, 12 Associate Members and close to 100 volunteer professionals, Finance Montréal fosters cooperation among a vast range of financial sector companies to watch over the industry’s common interests while generating higher awareness of the financial specializations found in Montréal. To learn more about Finance Montréal,