The Top 5 Wealthiest Industries in Canada
Check this article out as it appears in our March Issue of Business Review Canada. Trust us, it's way cooler to read this article when you can flip through our user-friendly e-reader.
TSX Market Capitalization: $459.5 billion
Trends: The TSX is up 2,500 points, a staggering 22%, from this time last year. The TSX is also poised to eclipse its all-time high of 14,969, which it hit in July of 2008, just before the global financial crisis brought down equity markets around the world. Additionally, the recent TSX-London Stock Exchange merger will cut overhead costs for investment banks trading on the markets. What does this mean for the financial industry? It means massive revenue increases and operating cost reductions across the board. We wouldn’t be surprised to see the financial industry up its market cap leading figure to $500 billion.
Key Players: Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce, AGF Management, Brookfield Properties, Canadian Western Bank, Dundee Corp, Manulife Financial, National Bank of Canada, Onex, Riocan, Sunlife Financial
TSX Market Capitalization: $435.8 billion
Trends: Energy prices are starting to spike globally, thanks largely to the revolution in Egypt and the uprisings across the Middle East. Soaring oil prices globally will drive up the demand for Canadian oil. 2011 could also be a big year in the oil sands. Many Canadian oil and gas giants have partnered with Asia energy companies such as PetroChina to speed up development. While those returns probably won’t be seen for two to three years, overall increases in production are to be expected. Factor in the multiple pipelines in construction, the oil sands and the Canadian energy industry will be extremely active, as usual.
Key Players: Vermilion Energy, Uranium One, TransCanada, Talisman Energy, Penn West, Nexen, Imperial Oil, Husky Energy, Encana, Enbridge, Cenovus Energy, Birchcliff Energy, Advantage Oil and Gas
TSX Market Capitalization: $372.8 billion
Trends: Canada is known for its world-class mining sector and is one of the leading producers of raw materials in the world. As the global recovery presses on, countries around the world, especially the emerging economies will be in need of the metals, wood and other elements to sustain growth. Canadian material exporters should see a return to normal, if not a great year. On top of that, there is a growing concern about food shortages, meaning farmers are going to urged to plant more, driving up the demand for the agricultural fertilizer potash. And lastly, should gold continue its record prices, he materials industry is positioned to outperform all other Canadian industries.
Key Players: Yamana Gold, West Fraser Timber, Thompson Creek Metals, Taseko Mines, Potash Corp., Iamgold, Goldcorp, Barrick Gold, Agrium
TSX Market Capitalization: $90.4 billion
Trends: The industrial segment of the Canadian economy is diverse, encompassing construction, manufacturing and supply chain companies. As such, industrial performance is largely influenced by multiple external factors, such as government spending, consumer demand and B2B commerce. As governments around the world invest in transit systems and infrastructure, many Canadian industrial, like Bombardier and SNC-Lavalin, could do well. Should the global economic recovery stall, or worse a double dip recession sets in, industrial demand will slump. Economic activity or lack thereof will dictate the performance of major supply chain players like Canadian Pacific and Canadian Pacific.
Key Players: Aecon, Bombardier, CAE, Canadian National, Canadian Pacific, IESI-BFC, Toromont Industries, SNC-Lavalin, Stantec, Air Canada
TSX Market Capitalization: $70.1 billion
Trends: Canadians have been saving and paying down debt for two plus years now, affecting the performance of major retailers. It remains to be seen whether Canadians will splurge on discretionary spending this year, as their American counterparts are largely expected to do. Spring should continue to be a strong quarter for do-it-yourself retailers such as Rona while the summer should see a drop off. Expect the fall to bump up spending with summer vacation ending, school starting and the holiday season swinging into full gear. The loonie has been flirting with parity against the greenback, and should the loonie exceed the dollar, Canadian retailers will have to compete with American retailers. Spoiler alert: Wal-Mart will make its Canadian debut towards the end of the year, further clouding the outlook.
Key Players: Thomson Reuters, Tim Hortons, Canadian Tire, Magna International, Rona, Shaw, Cogeco Cable
Marketing matters: from IBM to Kyndryl
Prior to joining Kyndryl as Chief Marketing Officer, Maria had a 25-year career at IBM, most recently as the tech giant’s CMO where she oversaw all marketing professionals and activities across North America, Canada and Latin America. She has held senior global marketing positions in a variety of disciplines and business units across IBM, most notably strategic initiatives in Smarter Cities and Watson Customer Engagement, as well as leading teams in services, business analytics, and mobile and industry solutions. She is known for her work with teams to leverage data, analytics and cloud technologies to build deeper engagements with customers and partners.
With a passion for marketing, business and people, and a recognized expert in data-driven marketing and brand engagement, Maria talks to Business Chief about her new role, her leadership style and what success means to her.
You've recently moved from IBM to Kyndryl, joining as CMO. Tell us about this exciting new role?
I’m Chief Marketing Officer for Kyndryl, the independent company that will be created following the separation from IBM of its Managed Infrastructure Services business, expected to occur by the end of 2021. My role is to plan, develop, and execute Kyndryl's marketing and advertising initiatives. This includes building a company culture and brand identity on which we base our marketing and advertising strategy.
We have an amazing opportunity ahead at Kyndryl to create a company brand that will stand apart in the market by leading with our people first. Once we are an independent company, each Kyndryl employee will advance the vital systems that power human progress. Our people are devoted, restless, empathetic, and anticipatory – key qualities needed as we build on existing customer relationships and cultivate new ones. Our people are at the heart of this business and I am deeply hopeful and excited for our future.
What experiences have helped prepare you for this new opportunity?
I’ve had a very rich and diverse career history at IBM that has lasted 25+ years. I started out in sales but landed explored opportunities at IBM in different roles, business units, geographies, and functions. Marketing and business are my passions and I landed on Marketing because it allowed me to utilize both my left and right brain, bringing together art and science. In college, I was no tonly a business major, but an art major. I love marketing because I can leverage my extensive knowledge of business, while also being able to think openly and creatively.
The opportunities I was given during my time at IBM and my natural curiosity have led me to the path I’m on now and there’s no better next career step than a once-in-a-lifetime-opportunity to help launch a company. The core of my role at Kyndryl is to create a culture centered on our people and growing up in my career at IBM has allowed me to see first-hand how to prioritize people and ensure they are at the heart of progress in everything Kyndryl will do.
How would you describe your leadership style?
I believe that people aren't your greatest assets, they are your only assets. My platform and background for leadership has always been grounded in authenticity to who I am and centered on diversity and inclusion. I immigrated to the US from Chile when I was 10 years old and so I know the power and beauty that comes from leaning into what makes you different from other people, and that's what I want every person in my marketing organization to feel – the value in bringing their most authentic self to work every day. The way our employees feel when they show up for themselves authentically is how they will also show up for our customers, and strong relationships drive growth.
I think this is especially true in light of a world forever changed by the pandemic. Living through such an unprecedented time has reinforced that we are all humans. We can't lead or care for one another without empathy and I think leaders everywhere have been reminded of this.
What’s the best leadership advice you’ve received?
When I was growing up as an immigrant in North Carolina, I often wanted to be just like everyone else. But my mother always told me: Be unique, be memorable – you have an authentic view and experience of the world that no one else will ever have, so don't try to be anyone else but you.
What does success look like to you?
I think the concept of success is multi-faceted. From a career perspective, being in a job where you're respected and appreciated, and where you can see how your contributions are providing value by motivating your teams to be better – that's success! From a personal perspective, there is no greater accomplishment than investing in the next generation. I love mentoring younger professionals – they are the future. I want my legacy as a leader to include providing value in work culture, but also in leaving a personal impact on the lives of professionals who will carry the workforce forward. Finding a position in life with a job and company that offers me a chance at all of that is what success looks like to me.
What advice would you give to your younger self just starting out in the industry?
I've always been a naturally curious person and it's easy for me to over-commit to projects that pique my interest. I've learned over years of practice how to manage that, so to my younger self I’d say… prioritize the things that are most important, and then become amazing at those things.