If law firm developments are any indication, the North American economy is firmly on the rebound.
There is a lot of interest in Canada from abroad, says Kevin Morris: non-Canadian businesses are eager to list their shares on Canadian stock exchanges and they are attracted to Canada's stability and niche expertise in several business areas, such as natural resources.
"Going public in Canada is a lot simpler," says Kevin. "It's a less expensive and less time-consuming process, and the ongoing compliance obligations in Canada are less burdensome than in the United States."
There have also been a lot of high-profile deals recently in which sovereign wealth funds from Asia or corporate investors from South America have invested in Canadian companies.
While China and India are growing parts of Torys' practice, the United States remains Canada's biggest trading partner and the firm's office in New York is keeping busy. "Where we sit, our New York office is 35 lawyers, and most of everything they do touches upon Canada – either Canadian pension funds or other Canadian investors investing in U.S. assets, or Canadian public companies accessing U.S. capital markets."