March 04, 2011
As another sign that Calgary is turning into a financial energy centre, Torys, "the venerable Toronto-based law firm," announced it is establishing a Calgary office and "abandoning the suitcase banking business model" to serve the oilpatch and investors in the sector.
Torys' office is situated in the Devon Tower. It will house an initial team of partners whose experience reaches into far-flung regions with a keen interest in Alberta's energy sector.
Torys' managing partner Les Viner, who was born and raised in Calgary, said the firm's decision was driven by a number of key factors. "Calgary is a great place to do business and the energy sector is a crown jewel in Canada," he says, adding that his mother "couldn't be happier."
The fact that Torys' clients, which include a healthy complement of international financial firms, sovereign wealth funds and private pools of capital, wanted to see Torys on the ground in Calgary, also pushed the decision.
"Being from Calgary, I understand it's important to be locally connected and involved in the community," says Les. "In a city like Calgary, business and community are intricately connected."
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