List of trust and loan companies in Canada

The following is a list of trust companies that operate or that have operated in Canada. Historically, trusts were one of the four main financial institutions in Canada, along with banks, insurance companies, and investment brokerages.^[1] The country's first trust company was the Toronto General Trusts Corporation, which received its charter in 1872.^[2] By the turn of the century, 14 trust companies had received charters.^[3]

For much of the 20th century, Canada's trust companies were controlled by the major banks through interlocking directorates. However, revisions to the Bank Act in 1967 forbade individuals from sitting on a bank and trust company board simultaneously; this had been a recommendation in the 1964 Report of the Royal Commission on Banking and Finance (or Porter Commission).^[4] Until 1991, Canadian banks were barred from performing trust duties. Amendments to the Bank Act in 1991 allowed bank holding companies for the first time to acquire trust companies. Since 1991, most of Canada's major trust companies have been acquired by banks. Canadian trust companies with federal incorporations are regulated by the Trust and Loan Companies Act.^[5]

Trust companies owned by big five banks

The following list is of trust companies operated currently by Canada's Big Five banks, as well as properties acquired by those companies.

Bank of Montreal

BMO Trust Company

Bank of Nova Scotia

Bank of Nova Scotia Trust Company
Montreal Trust Company
- Commercial Trust Company
- Northern Trusts Company
- Maritime Trust Company
- Brockville Trust & Savings Company
- Canadian Trust Company
- Prince Edward Island Trust Company
- Acadia Trust Company
- Credit Foncier Franco-Canadien
- Wellington Trust Company
National Trust Company
- Victoria & Grey Trust Company
  - Grey and Bruce Trust & Savings Company
  - Victoria Trust & Savings Company
  - Grey and Bruce Loan Company
  - Toronto Savings & Loan Company
  - British Mortgage & Trust Company
  - Lambton Loan & Investment Company
    - Huron and Lambton Loan & Savings Company
  - Metropolitan Trust Company of Toronto
    - Canadian First Mortgage Corporation
    - Kent Trust & Savings Company
    - York Trust & Savings Company
    - International Savings & Mortgage Corporation
  - Premier Trust Company
    - Security Loan & Savings Company

Canadian Imperial Bank of Commerce

CIBC Trust Corporation (formerly Morgan Trust Company of Canada)

Royal Bank of Canada

Royal Trust Company
- Bankers' Trust Company
- Barclays Trust Company of Canada
- Okanagan Trust Company
- Ontario Loan and Debenture Company
- Industrial Mortgage and Trust Company

Toronto-Dominion Bank

Canada Trust
- Waterloo Trust and Savings Company
- Halton and Peel Trust and Savings Company
- Canada Permanent Mortgage Corporation
  - Canada Permanent Trust
    - Toronto General Trusts
      - Trusts Corporation of Ontario
      - Winnipeg General Trusts Company
      - Ottawa Trust and Deposit Company
      - Saskatchewan Mortgage and Trust Company
    - Eastern & Chartered Trust Company
      - Eastern Trust Company
      - Chartered Trust Company

Other subsidiary trust companies

B2B Trustco – B2B Bank
Central 1 Trust Company – Central 1 Credit Union
Cidel Trust Company – Cidel Bank
Citizens Trust Company – Vancity
Community Trust Company – Questrade
Computershare Trust Company of Canada – Computershare
Concentra Trust – Equitable Bank
Desjardins Trust – Desjardins Group
Equitable Trust – Equitable Bank
Fiduciary Trust Company of Canada – Franklin Templeton Investments
FNB Trust – First Nations Bank of Canada
Industrial Alliance Trust – IA Financial
Investors Group Trust – Investors Group
Laurentian Trust of Canada – Laurentian Bank of Canada
LBC Trust – Laurentian Bank of Canada
Manulife Trust Company – Manulife
Natcan Trust Company – National Bank of Canada
Northern Trust Company of Canada – Northern Trust
Solus Trust Company – Raymond James Financial
State Street Trust Company Canada – State Street Corporation
Sun Life Financial Trust – Sun Life
TSX Trust Company – TMX Group

Independent trust companies

Effort Trust Company
Home Trust Company
Legacy Private Trust
Odyssey Trust Company
Peace Hills Trust Company
Peoples Trust Company

Defunct trust companies

Crown Trust Company
- Trust & Guarantee Company of Canada

Central Guaranty Trustco
- Guaranty Trust Company
- Central Trust Company of Canada
- Yorkshire Trust Company
- Nova Scotia Savings & Trust Company

Valiant Trust Company

References

^ Patricia Best and Ann Shortell, A Matter of Trust: Power and Privilege in Canada's Trust Companies, (Viking, 1985), 1.
^ E. P. Neufeld, The Financial System of Canada: Its Growth and Development, (Macmillan of Canada, 1972), 48.
^ Philip Smith, The Trust-Builders: The Remarkable Rise of Canada Trust, (Macmillan of Canada, 1989), 50.
^ Report of the Royal Commission on Banking and Finance, (Queen's Printer, 1964), 563.
^ Branch, Legislative Services (2024-01-01). "Consolidated federal laws of Canada, Trust and Loan Companies Act". laws-lois.justice.gc.ca. Retrieved 2024-07-08.

[1] Patricia Best and Ann Shortell, A Matter of Trust: Power and Privilege in Canada's Trust Companies, (Viking, 1985), 1.

[2] E. P. Neufeld, The Financial System of Canada: Its Growth and Development, (Macmillan of Canada, 1972), 48.

[3] Philip Smith, The Trust-Builders: The Remarkable Rise of Canada Trust, (Macmillan of Canada, 1989), 50.

[4] Report of the Royal Commission on Banking and Finance, (Queen's Printer, 1964), 563.

[5] Branch, Legislative Services (2024-01-01). "Consolidated federal laws of Canada, Trust and Loan Companies Act". laws-lois.justice.gc.ca. Retrieved 2024-07-08.

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