McKinsey designates Toronto as global tech hub

Erez Eizenman, senior partner and head of the Toronto Office

Erez Eizenman

October 2023 – The next wave of consulting innovation will be anchored in using the latest in technology and advanced analytics to build solutions to help companies improve their performance. Successfully building capabilities, modernizing platforms, creating software engineering cultures, leveraging data and analytics to improve operations and products are critical for organizations to thrive in the modern Canadian economy.

To meet the demand for technology innovation, McKinsey has designated its Toronto office as one of 16 global hubs focusing on accelerating technology advancements for McKinsey clients. The global network offered to clients is the backbone of McKinsey’s technology-enabled consulting which harnesses the firm’s proprietary assets, distinctive insights, and a talented team of leading technology experts.

Toronto Office

Office lobby

Toronto is an attractive destination for entrepreneurs and the tech industry to have an impact locally and on an international scale. Toronto has seen a 40 percent jump in tech workers over the last five years,¹ counts over 2,000 startups in its ecosystem,² and has one of the most highly educated and diverse labour forces.³ For McKinsey, it is the firm's fastest-growing location in Canada, proudly serving the most impactful organizations and investing in technology and innovation. “Our existing connection within Toronto’s community of startups, academics, VCs, and the growing number of big tech players, coupled with our deep and diverse tech talent pool, made for an easy decision to formalize the Toronto office as a McKinsey global innovation hub. We are thrilled to bring the best of the country's talent to the forefront, to enable our clients' success, and have a deep impact in the community,” explains Erez Eizenman, McKinsey senior partner and head of the Toronto Office.

Toronto Office

Toronto Hub

Toronto’s Hub plans to grow its current team of over 100 technology experts, which includes data scientists and machine learning engineers from the QuantumBlack AI team, software and data engineers from Build by McKinsey, along with product, design, and research science specialists spearheading McKinsey’s proprietary software, diagnostics and benchmarking tools. “This unique environment allows for seamless integration between technology experts and consultants from a multitude of backgrounds and industries, creating stronger capabilities and impact,” says Gisele Ho, the Hub people leader.

The Toronto hub further accelerates years of proudly collaborating with the nation's world-class tech ecosystem to drive joint innovation. McKinsey is proud to have recently launched a partnership with Cohere, a leading developer of enterprise AI platforms and state-of-the-art large language models (LLMs). Together, McKinsey and Cohere will harness the power of generative AI—the ability of machines to create and use human language—to drive clients’ business performance through tailored end-to-end solutions. “It is meaningful partnerships of this nature, with organizations leading out of Toronto that excite and inspire the very best,” says Federico Berruti, partner in the Toronto office, “McKinsey is invested in being a holistic impact partner to local clients and are thrilled to bring Canada to the world stage.”

_{1. “Technology,” City of Toronto, last accessed August 30, 2023.}

_{2. Ibid.}

_{3. “Indicators and targets: A diverse and highly skilled workforce,” Government of Canada, last modified March 4, 2019.}