TORONTO — Ontario Premier Doug Ford says he doesn’t believe in attacking other cities’ bids to host a multinational defence bank as he makes his own pitch for Toronto as the best choice for the project.
Ford made the comments in a news conference today after he was asked to respond to allegations that Toronto officials have been lobbying for their city by raising the threat of a potential Quebec sovereignty referendum.
The premier emphasized his love of Montreal, throwing in a “Go Habs!” cheer for the city’s hockey team.
Toronto, Montreal, Ottawa and Vancouver are all competing to host the Defence, Security and Resilience Bank, which is set to provide financing for defence projects by NATO members and allies.
A group representing key members of Quebec’s financial sector joined several Quebec politicians in lobbying for Montreal as the natural choice to headquarter the bank, touting its strong financial industry and the presence of dozens of international organizations.
But Ford says Toronto is the only city in Canada that can give the bank what it needs, including access to one of the largest financial hubs in North America, the headquarters of Canada’s five largest banks and many of its largest pension funds, as well as the offices of several international banks.
The province has already found a temporary location for the bank and will help it find a permanent one, he said.
“We need the federal government to choose a host city for the bank that can help it hit the ground running, a place with (a) world-class workforce, the banking and defence manufacturing expertise and the global connections that will help the bank succeed,” Ford said.
“There’s only one city in Canada that can truly provide everything the bank needs, and that city is Toronto.”
The premier said he hasn’t received any clarity from Ottawa on what criteria will be used in selecting the host city.
This report by The Canadian Press was first published May 12, 2026.
The Canadian Press
