List of trust and loan companies in Canada

The following is a list of trust companies that operate or that have operated in Canada. Historically, trust companies were one of the "four pillars" of the Canadian financial system, along with banks, insurance companies, and investment brokerages.[1] The country's first trust company was the Toronto General Trusts Corporation, which received its charter in 1872.[2] By the turn of the century, 14 trust companies had received charters.[3]

For much of the 20th century, Canada's trust companies were controlled by the major banks through interlocking directorates. However, revisions to the Bank Act in 1967 forbade individuals from sitting on a bank and trust company board simultaneously; this had been a recommendation in the 1964 Report of the Royal Commission on Banking and Finance (or Porter Commission).[4] Until 1991, Canadian banks were barred from performing trust duties. Amendments to the Bank Act in 1991 allowed bank holding companies for the first time to acquire trust companies. Since 1991, most of Canada's major trust companies have been acquired by banks. Canadian trust companies with federal incorporations are regulated by the Trust and Loan Companies Act.[5]

Trust companies owned by big five banks

The following list is of trust companies operated currently by Canada's Big Five banks:

Bank of Montreal

  • BMO Trust Company

Bank of Nova Scotia

Canadian Imperial Bank of Commerce

Royal Bank of Canada

Toronto-Dominion Bank

Other subsidiary trust companies

Independent trust companies

Defunct trust companies

Company Origin Established Disestablished Fate
Acadia Trust Company Truro 1918 1961 Acquired by the Montreal Trust Company
Agricultural Savings and Loan Company London 3 May 1872 1911 Acquired by the Ontario Loan & Debenture Company
Atlantic Trust Company of Canada
Bankers' Trust Company Montreal 20 May 1905 Acquired by Royal Trust
Barclays Trust Company of Canada Montreal 11 March 1931 1957 Acquired by Royal Trust
Brantford Trust Company Brantford 16 December 1907 31 August 1927 Acquired by Canada Permanent Trust
British Canadian Trust Company Lethbridge 1901 1961 Failed; assets acquired by Canada Trust
British Columbia Permanent Loan Company Vancouver 12 March 1909 1927 Acquired by Canada Permanent Mortgage
British Mortgage & Trust Company Stratford 5 October 1877 26 September 1965 Acquired by Victoria and Grey Trust
British Western Trust Corporation Regina 3 January 1913
Brockville Trust & Savings Company Brockville 11 May 1885 1955 Acquired by the Montreal Trust Company
Building and Loan Association 15 December 1899 Merged with Union Loan to form the Toronto Mortgage Company
Canada Landed and National Investment Company Limited Toronto 12 February 1891 30 December 1927 Acquired by Canada Permanent Mortgage
Canada Landed Credit Company 1858 12 February 1891 Merged with National Investment Company to form Canada Landed and National Investment Company
Canada Permanent Mortgage Corporation Toronto 1 March 1855 31 December 1985 Merged into Canada Trustco Mortgage Corporation
Canada Permanent Trust Toronto 7 March 1913 31 December 1985 Merged into Canada Trust
Canadian Financiers Trust Company Vancouver 1907
Canadian Guaranty Trust Company Brandon 1906
Canadian First Mortgage Corporation 27 September 1963 31 October 1980 Acquired by Victoria and Grey
Canadian Mortgage Investment Company Toronto 11 August 1899 1926 Originally the Canadian Birkbeck Investment and Savings. Name changed in 1912. Acquired by the Debentures and Securities Corporation.
Canadian Savings & Loan Company London 2 September 1875 29 December 1905 Acquired by Huron & Erie
Canadian Trust Company Montreal 1905 1957 Acquired by the Montreal Trust Company
CanWest Trust Company of Canada
Capital Trust Corporation, Limited Ottawa 1 April 1912 12 June 1947 Acquired by Guaranty Trust
Central and Eastern Trust Halifax 21 July 1976 1 March 1981 Merged with Federal Trust to become the Central Trust Company
Central and Nova Scotia Trust Halifax 1974 21 July 1976 Merged with Eastern Canada Savings to form Central and Eastern Trust
Central Canada Loan and Savings Company Toronto 7 March 1884
Central Guaranty Trust Halifax 31 December 1988 31 December 1992 Falied
Central Trust Company Halifax 1 March 1981 31 December 1988 Merged with Guaranty Trust, Yorkshire Trust, and Nova Scotia Savings to form Central Guaranty Trust
Central Trust Company of Canada Moncton 24 April 1920 1974 Merged with Nova Scotia Trust to form Central and Nova Scotia Trust
Chartered Trust Company Toronto 20 July 1905 29 November 1963 Merged with Eastern Trust to form Eastern & Chartered Trust
Colonial Investment and Loan Company Toronto 14 June 1900 1928 Liquidated
Commercial Trust Company Halifax 1907 Acquired by the Montreal Trust Company
Community Trusts Corporation Chatham 26 April 1928 9 April 1938 Acquired by Canada Trust
Consolidated Trusts Corporation London 25 June 1903 21 January 1930 Acquired by Canada Trust
County Savings and Loan Company 26 November 1964 30 June 1974 Merged with Federal Trust and Savings to form the Federal Trust Company
Crédit foncier franco-canadien Montreal 24 July 1880 1 January 1987 Acquired by the Montreal Trust Company
Crown Savings and Loan Company Petrolia 30 January 1882 24 December 1935 Acquired by the Industrial Mortgage and Trust Company
Crown Trust Company Montreal 29 May 1909 21 May 1946 Acquired by Trusts & Guarantee, which became Crown Trust and Guarantee, and later Crown Trust
Debenture Company of Canada, Limited Regina 1914
Dominion Savings & Investment Society London 20 April 1872 29 August 1922 Acquired by Huron & Erie
Dominion Trust Company Vancouver 1 April 1912 1943
East Lambton Farmers' Loan and Savings Company Forest 19 December 1891 1934 Acquired by the Industrial Mortgage and Trust Company
Eastern & Chartered Trust Company Toronto 29 November 1963 20 December 1967 Acquired by Canada Permanent Trust
Eastern Canada Savings and Loan Company Halifax 11 November 1887 21 July 1976 Merged with Central and Nova Scotia Trust to form Central and Eastern Trust
Eastern Trust Company Halifax 1893 29 November 1963 Merged with Chartered Trust to form Eastern & Chartered Trust
Empire Loan Company Winnipeg 8 February 1904
Equitable Trust Company Winnipeg 10 April 1958 Acquired by Guaranty Trust
Federal Trust Company 30 June 1974 1976 Merged with Central and Eastern Trust to become Central Trust
Federal Trust and Savings Company 4 October 1972 30 June 1974 Merged with County Savings and Loan to form the Federal Trust Company
Fidelity Trust Company Winnipeg 1909 1983 Failed
Fidelity Trusts Company of Ontario London 23 March 1910 30 June 1941 Moved to Niagara Falls in 1928. Acquired by Guaranty Trust.
Financial Trust Company 1988 Failed
Fort Garry Trust Company Winnipeg 1 October 1982 Acquired by Fidelity Trust
Great West Permanent Loan Company Winnipeg 19 May 1909 1927 Liquidated
Grey and Bruce Loan Company Owen Sound 10 May 1889 8 April 1926 Merged with Owen Sound Loan and Savings to form Grey and Bruce Trust and Savings
Grey and Bruce Trust and Savings Company Owen Sound 8 April 1926 9 November 1950 Merged with Victoria Trust to form Victoria and Grey Trust
Guaranty Trust Company Windsor 12 June 1925 31 December 1988 Merged with Central Trust, Yorkshire Trust, and Nova Scotia Savings to form Central Guaranty Trust
Guelph and Ontario Investment and Savings Society Guelph 19 January 1876 1 December 1949 Acquired by Huron & Erie
Guelph Trust Company Guelph 26 May 1917 1 December 1949 Acquired by Canada Trust
Halton and Peel Trust and Savings Company Oakville 20 January 1955 30 June 1971 Acquired by Waterloo Trust
Hamilton Provident & Loan Society Hamilton 6 June 1871 13 October 1926 Acquired by Huron & Erie
Hamilton Trust and Savings Corp. Hamilton 4 July 1963 31 December 1977 Acquired by Canada Permanent Trust
Huron & Erie Mortgage Corporation London 15 March 1864 1 January 2005 Renamed Canada Trustco Mortgage Corporation in 1976. Merged with its subsidiary Canada Trust, which continued.
Huron and Lambton Loan & Savings Company Sarnia 1 November 1877 4 January 1907 Acquired by Lambton Loan & Investment
Imperial Canadian Trust Company Winnipeg 24 March 1911 1927 Liquidated
Imperial Trust Company Montreal
Imperial Trusts Company of Canada Toronto 23 June 1887 24 April 1934 Acquired by Premier Trust
Industrial Mortgage and Trust Company Sarnia 20 August 1889 17 July 1969 Acquired by Royal Trust
Interior Trust Company Winnipeg 6 March 1918 Acquired by Mutual Life; became Mutual Trust Company in 1985. Now Sun Life Financial Trust.
International Savings & Mortgage Corporation Winnipeg 11 May 1920 Acquired by Metropolitan Trust
Kent Trust & Savings Company Chatham 12 December 1963 30 June 1969 Acquired by Metropolitan Trust
Lambton Loan & Investment Company Sarnia 27 March 1847 31 October 1978 Acquired by Victoria and Grey
Lambton Trust Company, Limited Sarnia 26 April 1928 31 October 1978 Acquired by Victoria and Grey
Landed Banking & Loan Company Hamilton 15 December 1876 18 October 1944 Acquired by Canada Permanent Mortgage
Lincoln Trust and Savings Company Niagara Falls 4 March 1964 10 December 1976 Acquired by Canada Trust
London and Western Trusts Company London 17 September 1896 13 February 1947 Acquired by Canada Trust
London Loan & Savings Company of Canada London 2 May 1877 29 August 1929 Acquired by Huron & Erie
London Permanent Building & Savings Society London 18 March 1895 Acquired by Huron & Erie
Manitoba Trust Company Winnipeg 1896 July 1900 Acquired by National Trust
Marcil Trust Company
Maritime Trust Company Saint John 6 April 1911 18 April 1958 Acquired by the Montreal Trust Company
Mercantile Trust Company of Canada, Limited Hamilton 1907 August 1924 Acquired by National Trust
Metropolitan Trust Company Toronto 7 June 1962 27 June 1968 Acquired by York Trust, which continued under the Metropolitan Trust name.
Midland Loan and Savings Company Port Hope 5 July 1872 4 December 1947 Acquired by Canada Permanent Mortgage
Montreal Loan and Mortgage Company Montreal 1946 Acquired by Canada Permanent Mortgage
Mortgage Corporation of Nova Scotia 1900 1945 Acquired by Eastern Canada Savings & Loan
National Investment Company of Canada 21 August 1882 1891 Merged with the Canada Landed Credit Company to form the Canada Landed and National Investment Company
Niagara Falls Loan and Savings Company Niagara Falls 5 March 1894 13 January 1944 Acquired by Guaranty Trust
North American Trust Company Acquired by Trust général du Canada
Northern Trusts Company Winnipeg 1902 1947 Acquired by the Montreal Trust Company
Nova Scotia Savings & Loan Company Halifax 1964 1988 Merged with Central Trust, Guaranty Trust, and Yorkshire Trust to form Central Guaranty Trust
Nova Scotia Trust Company Halifax 3 May 1912 1974
Okanagan Trust Company Kelowna 27 March 1961 Acquired by Royal Trust
Ontario Investment Association London May 1880
Ontario Loan and Debenture Company London 26 September 1870 1968 Acquired by Royal Trust
Osler & Nanton Trust Company Winnipeg 1911 25 March 1954 Acquired by Toronto General Trusts
Ottawa Trust and Deposit Company Ottawa 23 January 1896 1903 Acquired by Toronto General Trusts
Ottawa Valley Trust Company Ottawa 18 December 1945 19 June 1952 Acquired by Toronto General Trusts
Owen Sound Loan and Savings Company Owen Sound 1 April 1889 8 April 1926 Merged with Grey and Bruce Loan to form Grey and Bruce Trust and Savings
Peoples Loan & Savings Corporation London 22 June 1892 17 January 1931 Acquired by Huron & Erie
Premier Trust Company London 2 April 1913 1983 Acquired by Victoria and Grey
Prenor Trust Company
Prince Edward Island Trust Company Charlottetown 1930 1957 Acquired by the Montreal Trust Company
Provident Investment Company Toronto 2 November 1893 1967 Acquired by Western Savings and Loan
Prudential Trust Company, Limited Montreal 1909
Quebec Savings and Trust Company Montreal 23 March 1936 Acquired by Chartered Trust
Real Estate Loan Company of Canada Limited Toronto 17 September 1879 2 February 1945 Acquired by Canada Permanent Mortgage
Reliance Loan and Savings Company of Ontario Toronto 2 March 1893 21 April 1913 Merged with Standard Loan to form Standard Reliance Mortgage
Royal Loan and Savings Company Brantford 24 March 1876 4 March 1927 Acquired by Canada Permanent Mortgage
Royal Standard Loan Company London August 1877 Acquired by London Loan
Saskatchewan General Trusts Corporation Regina 26 January 1911
Saskatchewan Loan and Investment Company Moose Jaw 17 December 1906
Saskatchewan Mortgage and Trust Company Regina 1908 1928 Acquired by Toronto General Trusts
Security Loan & Savings Company St Catharines 12 March 1870 23 June 1937 Acquired by Premier Trust
Sherbrooke Trust Company Sherbrooke Acquired by Trust général du Canada
Southern Loan & Savings Company St Thomas 31 May 1927 Acquired by Huron & Erie
Standard Loan Company Orangeville 14 February 1873 21 April 1913 Merged with Reliance Loan and Savings to form Standard Reliance Mortgage
Standard Reliance Mortgage Corporation Toronto 21 April 1913 1919 Falied?
Standard Trusts Company Winnipeg 18 December 1929 Acquired by London & Western
Sterling Trusts Corporation Regina 19 May 1911 Moved to Toronto in 1913. Acquired by Trust général du Canada.
Toronto General Trusts Toronto 2 March 1872 30 November 1961 Merged into Canada Permanent
Toronto Mortgage Company Toronto 15 December 1899 26 February 1959 Acquired by Canada Permanent Mortgage
Toronto Savings & Loan Company Peterborough 15 June 1885 1946 Acquired by Grey & Bruce
Traders Trust Company Winnipeg
Trusts & Guarantee Company of Canada Toronto 24 February 1897 1983 Changed name to Crown Trust and Guarantee on 21 May 1946, and to Crown Trust on 23 December 1947. Failed in 1983.
Trust & Loan Company of Canada London, England 1845 1978 Formed by Royal Charter. Renamed Toronto and London Investment Company in 1951. Acquired by Slater, Walker of Canada.
Trust général du Canada
Trusts Corporation of Ontario 27 December 1888 1899 Acquired by Toronto General Trusts
Union Loan and Savings Company Toronto 15 December 1899 Merged with the Building and Loan Association to form the Toronto Mortgage Company
Union Trust Company Toronto 7 August 1901 30 December 1933 Acquired by the Trusts & Guarantee Company of Canada
United Trust Company 13 August 1964 31 March 1977 Acquired by Royal Trust
Valiant Trust Company
Vanguard Trust of Canada
Victoria & Grey Trust Company Lindsay 9 November 1950 31 August 1984 Acquired by National Trust
Victoria Trust & Savings Company Lindsay 4 September 1897 9 November 1950 Merged with Grey and Bruce Trust to form Victoria and Grey Trust
Waterloo Trust and Savings Company Waterloo 7 April 1913 Acquired by Canada Trust
Wellington Trust Company 1 January 1992 Acquired by the Montreal Trust Company
Western Counties Permanent Building & Savings Society 1866 Acquired by Huron & Erie
Winnipeg General Trusts Company Winnipeg 1899 1902 Acquired by Toronto General Trusts
York Trust & Savings Corporation Toronto 11 October 1962 31 October 1978 Renamed Metropolitan Trust in 1968. Acquired by Victoria and Gray.
Yorkshire Trust Company Huddersfield, England 1888 31 December 1988 Merged with Central Trust, Guaranty Trust, and Nova Scotia Savings to form Central Guaranty Trust
  • BC Permanent Loan (Vancouver)
    BC Permanent Loan (Vancouver)
  • British Mortgage & Trust (Stratford)
    British Mortgage & Trust (Stratford)
  • Canada Permanent (Toronto)
    Canada Permanent (Toronto)
  • Canadian Birkbeck (Toronto)
    Canadian Birkbeck (Toronto)
  • Central Trust (Halifax)
    Central Trust (Halifax)
  • Crédit foncier (Montreal)
    Crédit foncier (Montreal)
  • Freehold Loan (Toronto)
    Freehold Loan (Toronto)
  • Hamilton Provident (Hamilton)
    Hamilton Provident (Hamilton)
  • Imperial Trusts (Toronto)
    Imperial Trusts (Toronto)
  • London & Western Trusts (London)
    London & Western Trusts (London)
  • Marcil Trust (Montreal)
    Marcil Trust (Montreal)
  • Montreal Trust (Montreal)
    Montreal Trust (Montreal)
  • National Trust (Toronto)
    National Trust (Toronto)
  • Royal Trust (Montreal)
    Royal Trust (Montreal)
  • Toronto General Trusts (Toronto)
    Toronto General Trusts (Toronto)
  • Trust & Loan Company (Montreal)
    Trust & Loan Company (Montreal)
  • Trusts & Guarantee (Toronto)
    Trusts & Guarantee (Toronto)
  • Union Loan (Toronto)
    Union Loan (Toronto)
  • Westminster Trust (New Westminster)
    Westminster Trust (New Westminster)

See also

References

  1. ^ Patricia Best and Ann Shortell, A Matter of Trust: Power and Privilege in Canada's Trust Companies, (Viking, 1985), 1.
  2. ^ E. P. Neufeld, The Financial System of Canada: Its Growth and Development, (Macmillan of Canada, 1972), 48.
  3. ^ Philip Smith, The Trust-Builders: The Remarkable Rise of Canada Trust, (Macmillan of Canada, 1989), 50.
  4. ^ Report of the Royal Commission on Banking and Finance, (Queen's Printer, 1964), 563.
  5. ^ Branch, Legislative Services (2024-01-01). "Consolidated federal laws of Canada, Trust and Loan Companies Act". laws-lois.justice.gc.ca. Retrieved 2024-07-08.
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