Wednesday May 10, 2017 marked the date of the 6th Annual Brookfield RPS Property Summit at One King West in Toronto’s Financial District.
Brookfield RPS hosted a room full of 140 senior representatives from Canada’s residential real estate and mortgage industries including the major banks, mortgage lenders and insurers as well as other key industry stakeholders. These leaders came together for meaningful and insightful discussions about Canada’s economy, policy, future, and trends. The event agenda included a keynote address by the President and CEO of Royal LePage, Philip Soper, and three panels comprised of distinguished industry leaders. A more compressive breakdown of the event follows:
James MacQueen, Executive Vice President of Brookfield RPS and the master of ceremonies of the event, kicked off our 6th Annual Brookfield RPS Property Summit with a warm welcome to the audience. Mr. MacQueen proudly announced that Brookfield RPS is celebrating its 20-year corporate anniversary! He was also humbled that the company was able to broker such meaningful industry discussions, by bringing great panel experts together with leaders from a vast representation of organizations in the industry. Mr. MacQueen also introduced our keynote speaker.
Philip Soper, President and Chief Executive Officer of Royal LePage delivered the event’s opening remarks. Mr. Soper provided insights into the home buying process, looking at how it has changed over the past 20 years, and what it will look like in the next five to ten years. Thanking Mr. Soper for his opening remarks was Spencer Enright, President and Chief Executive Officer of Brookfield RPS. Mr. Enright also thanked his predecessor, Dave Lacey, who is moving on to head up Watserv, another Brookfield company. Mr. Enright spoke of Mr. Lacey’s bold and courageous leadership, which has laid the foundation for Brookfield RPS’ innovative and industry-leading data and analytics and title businesses. Mr. Enright ended by expressing his excitement about the future of the real estate and mortgage spaces, and working collaboratively with Brookfield RPS’ clients and partners.
The Economic Panel was moderated by Mr. Lacey. The session included three of Canada’s most respected economists, Derek Burleton, Vice President and Deputy Chief Economist at TD Bank, Robert Hogue, Chief Economist at RBC, and Benjamin Tal, Deputy Chief Economist at CIBC World Markets.
These panelists discussed their outlook for Canada’s economy and housing, including the impact of federal and provincial real estate policy, foreign ownership, lack of housing data and rent control, among other important related topics.
THE INTERSECTION OF INNOVATION AND POLICY
This panel was moderated by Duncan Munn, Senior Vice President and Chief Operating Officer of the C.D. Howe Institute. The Panelists consisted of Ana Badour, Partner at McCarthy Tétrault, Christine Duhaime, Founder of the Digital Finance Institute, Sheila Judd, Executive in Residence at the Global Risk Institute, and Andrew Smee, Partner at PricewaterhouseCoopers.
The panel spoke about the challenges and opportunities for incumbent financial services companies, FinTechs and regulators to innovate in the current Canadian environment. They also addressed specific practices and technologies such as regulatory sandboxes and passport systems, blockchain and open banking APIs, as well as other programs being tested and/or implemented by regulators, here in Canada and around the world.
ARTIFICIAL INTELLIGENCE (AI): CHANGING THE FACE OF FINANCIAL SERVICES
AI is rapidly altering the financial services landscape, as the speakers in this session identified. The session was moderated by Geoffrey Cher, Partner at Wildeboer Dellelce, and included three panelists: Randy Cass, Chief Executive Officer and Founder of Nest Wealth, Krista Jones, Head of the Work & Learning Cluster at MaRS Discovery District, and Camilo Lievano, Director of Cognitive Analytics at Deloitte Canada. These experts provided an overview of the current state of AI and highlighted how pervasive AI is in our day-to-day lives. They delved into how AI has and is transforming the investment advisory industry, with the proliferation of robo-advisors and bionic advisors. The panel also discussed how AI will transform other parts of the financial services industry as well as how these leaders can leverage AI and what they need to do to prepare their workforce in this changing environment.
Yvonne von Jena
Head of Innovation & Marketing