Let’s face it, the pandemic has caused lots of uncertainty for businesses, individuals, and just about everybody else on the planet. Therefore, the market has changed significantly. In 2019, Canada had 13 companies in the Fortune Global 500. While the pandemic may have caused some changes, here are the three companies generally considered to be the biggest in Canada!
Brookfield Asset Management
Listed at 180 in the Fortune 500 back in 2019, Brookfield Asset Management has a long and storied history having been founded in 1899. Not only is the company the largest alternative asset management company in Canada, but it’s also the leader in its field on the planet.
Recent reports suggested over $626 worth of AUM (assets under management). What’s more, the company has assets of over $340 billion and a total of 150,000 employees. Although headquartered in Toronto, there are offices in London, New York, Shanghai, Dubai, Sao Paulo, Sydney, and Mumbai.
Despite many years in the industry, Brookfield Asset Management recently proved that there’s no time to stand still by launching a new service – reinsurance. Similarly, it bought Oaktree Capital in 2019 and now invests in distressed securities. Interestingly, the Sao Paulo part of the business was where it all started. The company went through many name changes and only settled on Brookfield Asset Management in 2005.
Next up, we have a company that may seem surprising at first. However, this surprise will soon fade once you learn the magnitude of the operation. Alimentation Couche-Tard is the company behind the following convenience stores:
- Circle K
- On the Run
- Dairy Mart
- Daisy Mart
While Brookfield Asset Management had over 120 years of experience, Alimentation Couche-Tard is significantly newer to the Canadian market having launched in 1980. Yet, this hasn’t stopped the company from spreading throughout Canada. Headquartered in Quebec, the company had $54 billion in revenue last year and employs over 100,000 people.
Loosely translated to ‘night owl’, couche-tard is now a household name in Quebec and the company’s convenience stores are also available in Mexico, Ireland, Denmark, Sweden, Indonesia, Lithuania, Poland, the US, China, Japan, and more.
Royal Bank of Canada
Thirdly, this is probably the name that most people were expecting. Sitting in 256th place in the Fortune Global 500, the Royal Bank of Canada has the largest market share in terms of banking in Canada. As well as employing over 86,000 people, the company has over 16 million customers right across the country.
The story for the Royal Bank of Canada all began in 1864 in Nova Scotia, and the company still calls Canada home today. While the head office is in Montreal, Toronto is home to the headquarters.
In 2020, the company reported revenue of CA$47 billion with nearly CA$850 billion assets under management. In terms of total assets, this number last year reached $1.6 trillion. Millions of people all over Canada look for the famous RBD Royal Bank or RBC Banque Royale branding every day. After over 150 years, the company doesn’t look like it will be slowing down any time soon.
In terms of revenue, these are the three largest companies in Canada (and the businesses with the strongest positions on the Fortune Global 500). However, it’s always interesting to look at other metrics, and the Toronto-Dominion Bank is second behind only the Royal Bank of Canada in terms of profit. Meanwhile, George Weston Limited is one of the largest employers in Canada with nearly 200,000 workers. Canada is becoming a major destination for global brands like https://kingkong.co/ca/. Understanding the potential, and the growth, makes Canada one of the most sought after places to launch a new business.
Other companies in the Fortune 500 include Enbridge, Manulife, Suncor Energy, Scotiabank, Onex Corporation, Bank of Montreal, Magna International, and Power Corporation of Canada.