Cedar Leaf Capital opens this month, focusing on Indigenous participation in Canada’s capital markets
Cedar Leaf Capital, set to open later this month, is Canada’s first majority Indigenous-owned investment dealer, aimed at boosting Indigenous participation in capital markets.
The firm, a partnership between Scotiabank, Nch'ḵay̓ Development, Des Nedhe Group, and the Chippewas of Rama First Nation, received all necessary regulatory approvals since its initial announcement in February 2024.
Cedar Leaf Capital plans to create commercial opportunities for Indigenous communities while increasing employment in these sectors.
Led by CEO Clint Davis, an Inuk from Labrador and a Beneficiary under the Labrador Inuit Land Claim Agreement, Cedar Leaf Capital is rooted in Indigenous values. Davis brings over two decades of experience in financial institutions and Indigenous organizations.
His focus is on supporting the growth of Indigenous development corporations and businesses while guiding communities toward economic empowerment and self-determination.
Davis remarked, “Our goal is to not only support Indigenous economic participation, but to empower nations through meaningful relationships built on trust and respect.”
He emphasized that Cedar Leaf Capital’s clients will act as partners in shaping a more resilient financial system. Davis added that the firm’s mission includes promoting economic sovereignty and empowering Indigenous communities.
In addition to fostering Indigenous participation, Cedar Leaf Capital will assist corporate Canada and capital market participants in fulfilling their reconciliation commitments.
By partnering with Scotiabank and Indigenous organizations like Nch'ḵay̓ Development, Des Nedhe Group, and the Chippewas of Rama First Nation, the firm merges financial knowledge with Indigenous business expertise.
This partnership is intended to provide Indigenous communities with access to specialized financial advice, enhance capital-building efforts, and spur economic development.
Scott Thomson, president and CEO of Scotiabank, emphasized the importance of the collaboration, stating, “Through this partnership we are supporting Indigenous communities in taking control of their economic futures.”
He added that Cedar Leaf Capital marks a significant step in expanding access and opportunities in capital markets, fostering a financial sector where inclusion and respect are key values.
Scotiabank is dedicated to fostering reconciliation through its Truth & Reconciliation Action Plan, which outlines 37 specific steps to incorporate Indigenous voices, knowledge, rights, and inclusion into its operations.
In the future, Cedar Leaf Capital aims to become wholly Indigenous owned, controlled, and operated. Until then, it will leverage Scotiabank’s infrastructure and enterprise frameworks to develop self-sustaining operations.
Scotiabank intends to facilitate a transition to reduce its controlling interest, subject to regulatory approval, once Cedar Leaf Capital achieves independent operations.
