Indigenous-owned financial brokerage makes history

Examples of corporate Canada engaging in meaningful action regarding Truth and Reconciliation are growing.

Among the latest is one with a strong Saskatchewan connection.

Last week, the founders of Cedar Leaf Capital rang the bell to open the Toronto Stock Exchange as they marked regulatory approval for the first majority Indigenous-owned financial brokerage in the country.

The firm is led by ScotiaBank with a 30-percent equity stake. The remainder is shared equally among three partners: one First Nation from BC, another in Ontario and the economic arm of Saskatchewan’s English River First Nation. 

The new company will provide brokerage services for major public and private sector players seeking capital from debt markets across the country.

The new company’s name and logo were also designed by Saskatoon-based Creative Fire which is owned by English River’s Des Nedhe Management. 

ScotiaBank says initially it will lead the new organization, utilizing its infrastructure and networks but plans to transition the operation to Indigenous control at some point in the future.