From Wall Street to Bay Street

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Canada's History · From Wall Street to Bay Street

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In November 2015, Joe Martin, Adjunct Professor of Strategic Management, Executive in Residence, Rotman School of Management at the University of Toronto visited the University of Winnipeg as part of the H. Sanford Riley Fellowship lecture series.

His lecture heard here, From Wall Street to Bay Street: Comparative Financial History of the United States and Canada since the Late Eighteen Century, was co-presented by Canada’s National History Society and the University of Winnipeg’s Oral History Centre.

The lecture is based on research compiled by Christopher Kobrak and Martin. The research was sparked by the 2008 financial crisis that rippled across the globe and triggered a worldwide recession.

Unlike the American banking system which experienced massive losses, takeovers, and taxpayer funded bailouts, Canada’s banking system withstood the crisis relatively well and maintained its liquidity and profitability. The divergence in the two banking systems can be traced to their distinct institutional and political histories.

In 2018, their work was published by the University of Toronto Press with the title From Wall Street to Bay Street: The Origins and Evolution of American and Canadian Finance.

Professor Martin has a distinguished career in the private financial sector, politics, and academia. He attended the United College (University of Winnipeg) during the infamous Crowe Affair, was former Premier of Manitoba Duff Roblin’s Executive, and became a successful business executive with Deloitte Consulting. Professor Martin’s association with the Rotman School of Toronto dates to 1997. He is a past president of the Manitoba Historical Society and Canada’s National History Society. He also served for many years on the University Of Winnipeg Foundation’s Board of Directors. Professor Martin teaches business history at the Rotman School of Management and is completing his research comparing the financial systems of Canada and the United States.