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B.C. the best spot for global defence bank

Press Release

Feb. 9, 2026

NORTH VANCOUVER

Summary

  • Government is supporting private-sector bid to locate the new multilateral Defence, Security and Resilience Bank headquarters in Vancouver
  • Opportunity would bring approximately 3,500 high-paying jobs
  • Builds on the Province’s Look West economic and job creation strategy by positioning key sectors to benefit from generational federal defense investments

The Province of British Columbia is supporting a private-sector-led proposal to the Government of Canada to put forward Vancouver as the preferred home for the new international headquarters of the Defence, Security and Resilience Bank (DSRB).

“Vancouver is the perfect place to establish the headquarters of this new bank,” said Premier David Eby. “B.C. has what the world needs, as well as major ports and strong relationships with NATO nations and allied partners. As the economic engine of the new Canadian economy, we are ready to seize the economic and strategic advantages in hosting a global institution of this scale.”

The DSRB is a newly created multilateral institution focused on financing defence, security and resilience projects for NATO members and allied nations. As countries around the world increase investments to secure borders and meet their geopolitical commitments, the DSRB is intended to help address financing challenges facing governments and industry. Canada is among the leading contenders to host the headquarters. Once fully established, the bank is expected to include up to 40 member countries and play a central role in supporting global security.

A global institution with local economic impact

Locating the DSRB headquarters in Vancouver would generate significant long-term economic benefits. Early estimates indicate the headquarters could create approximately 3,500 high-paying jobs in defence finance, international operations and specialized research and analysis.

Vancouver would also host regular international meetings of member nations, bringing delegations, investment opportunities and global visibility to B.C.

“British Columbians understand that our national security and defence capabilities matter now more than ever,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “Hosting the DSRB headquarters in B.C. aligns with our Look West plan and is an important step that allows our province to expand Canada’s defence capacity, while anchoring investments that will create opportunities for people and communities across B.C. and Canada. This positions us to play an essential role in Canada’s security, while building a stronger economy for British Columbians.”

Leveraging Vancouver’s strategic advantages

Vancouver offers a unique combination of strengths that align with DSRB’s needs, including:

  • strategic global position that connects NATO partners with key allies in the Indo-Pacific region, and features an active, robust consular corps from all allied nations
  • capacity to host the DSRB using existing institutions, infrastructure and talent to minimize incremental federal costs
  • anchoring B.C.’s defence-related industrial base across marine, aerospace and ocean technologies
  • strengths in AI, quantum tech, aerospace, marine and cybersecurity with rapidly growing dual-use innovators, such as Photonic, AbCellera and Sanctuary AI
  • being home to Canada’s largest and most-integrated port, and a world-class airport that provides direct access to almost all DSRB member countries

“Vancouver is the strategic choice for the Defence, Security, and Resilience Bank,” said Bridgitte Anderson, president and CEO, Greater Vancouver Board of Trade. “Our city offers a secure, world-class environment that naturally attracts global talent. With a deeply integrated international business community, Vancouver is ready to accelerate the bank’s operations and deliver immediate results for our collective security.”

Supporting B.C.’s economic future

Backing the DSRB bid aligns with B.C.’s Look West strategy to create good jobs, attract investment and expand opportunities for people and businesses throughout the province. Hosting a major international financial institution would strengthen B.C.’s economic resilience and position the province as a leader in the rapidly evolving global security and resilience sector.

Quick Facts:

  • The Vancouver bid is being led by the Pacific Security Bank Bid Committee, which includes prominent local business leaders.
  • The DSRB is expected to be fully established by the end of 2026 and is anticipated to include up to 40 member countries

Learn More:

Two backgrounders follow.

Contacts:

Office of the Premier
Media Relations
Premier.Media@gov.bc.ca

Ministry of Jobs and Economic Growth
Media Relations
250-880-5179

BACKGROUNDER 1

Members of the Pacific Security Bank Bid committee

  • Bridgitte Anderson, Greater Vancouver Board of Trade
  • Peter Armstrong, Major Rock Corporation
  • Jess Ketchum, Ketchum Communications Ltd.
  • Grant Damery, Royal Bank of Canada
  • Tamara Vrooman, Vancouver Airport Authority
  • Laura Jones, Business Council of British Columbia
  • Susannah Pierce, president and country chair, Shell Canada, retired
  • Dave Hargreaves, Seaspan
  • Denis Stevens, Seaspan
  • David Negrin, MST Development Corporation (Musqueam, Squamish, Tsleil-Waututh)
  • Jason Kiselbach, CBRE
  • Mark Podlasly, First Nations Major Projects Coalition
  • Peter Dhillon, Richberry Group of Companies
  • Matt Carlson, Floorspace
  • Ray Castelli, Weatherhaven/LMTC 2
  • Jacquie Griffiths, Invest Vancouver
  • Stephen Kukucha, Juno Industries
  • Fazil Mihlar, deputy minister, Ministry of Jobs and Economic Growth
  • Rick Antonson, former president and CEO, Tourism Vancouver
  • Ray LeBlond, Stantec (retired)
  • Christina Zacharuk, Research Universities’ Council of British Columbia

Contacts:

Office of the Premier
Media Relations
Premier.Media@gov.bc.ca

Ministry of Jobs and Economic Growth
Media Relations
250-880-5179

BACKGROUNDER 2

What people are saying about Vancouver potentially hosting the DSRB

Darlene Rotchford, parliamentary secretary for armed forces development and veterans affairs –

“Securing this headquarters would strengthen Canada’s ability to support our allies and advance shared defence priorities. Vancouver offers the expertise, partnerships, and strategic location needed for an institution dedicated to military readiness and resilience. This bid reflects B.C.’s commitment to contributing meaningfully to national security and to the people who serve.”

Ken Sim, mayor of Vancouver –

“Our city is in a strategic position unlike anywhere else in the country. We’re the only city in Canada that can conduct business across the Indo-Pacific, Europe, and Arctic time zones within a single business day, a critical advantage in a rapidly shifting global environment. Vancouver already has the secure space needed for the DSRB and the robust consular corps and private sector needed to support its ongoing operation. Put simply, Vancouver is the city with the readiness, strategic location, private-sector strength and secure, trusted access to world markets make the DSRB effective on day one.”

Jess Ketchum, president, Ketchum Communications –

“The DSRB will be an international institution of global importance that must be set up for success. The strategic advantages of locating in Vancouver cannot be ignored. The ability to span doing business in Europe, North America and Asia all in one day is one and can be a uniquely Vancouver gamechanger. The appeal of Vancouver’s natural beauty and recreational assets can impact recruitment of highly skilled, mobile professionals.”

Peter Dhillon, president and CEO, Richberry Group of Companies  –

“Vancouver’s global connections, diverse talent, and strong innovation economy makes it the right place for an institution that is focused on resilience and international partnership. Securing the DSRB headquarters will deliver long-term economic benefits for people and businesses across B.C.”

Matt Carlson, founder and executive managing director, Floorspace –

“Vancouver is exceptionally well positioned to accommodate a large, international institution like DSRB. We have a deep inventory of high-quality office space and a proven track record of welcoming global organizations. Hosting DSRB would reinforce B.C.’s reputation as an innovation-driven location with the infrastructure and talent to support an organization of this scale.”

Ray Castelli, CEO, Weatherhaven–

“Weatherhaven has found Vancouver to be an ideal location for a global defence-focused organization which supports NATO, but also seeks to outreach to partners in the Indo-Pacific region. This location provides unequaled reach to the most relevant major cities, both in terms of time zones and the most efficient travel distances.”

Rick Antonson, former president, Tourism Vancouver –

“Vancouver steps up with confidence when needed on the international stage at a propitious moment in time, be that Expo 86, or the 2010 Olympic and Paralympic Winter Games, or inviting the world to anchor the global Defence, Security and Resilience Bank in our city.”

Stephen Kukucha, board of directors, Juno Industries –

“There is a deeply rooted ethos shared by Vancouver and the DSRB, making the city a natural fit to become the future home of this global multilateral institution. Situating it here would not only enable Canada’s West Coast advantage, but also position Vancouver as a global conduit, offering the opportunity to deepen ties with NATO members and allies in an unparalleled way.”

Christina Zachauk, CEO, Research Universities’ Council of British Columbia –

“British Columbia offers the talent, stability, and innovation ecosystem needed to ensure the Defence, Security and Resilience Bank succeeds from Day 1. B.C.’s research universities deliver a deep pipeline of skilled graduates and applied expertise in areas from cybersecurity to critical-infrastructure resilience. Together, we stand ready to partner with the bank, providing research capacity and a long-term workforce to support dynamic, secure operations.”

Susannah Pierce, former president and country chair, Shell Canada –

“As the former head of the Canadian arm of a major European multi-national company, I can attest British Columbia is uniquely positioned to host the DSRB. Its geographic location on the Pacific Coast of Canada offers both logistical and strategic advantages as it relates to our Indo-Pacific allies. B.C. has everything the bank needs to scale quickly and operate effectively from Day 1.”

Jason Kiselbach, managing director, CBRE –

“The selection of Vancouver for the DSRB headquarters would be a testament to our city’s status as a global hub for innovation. With a thriving tech sector and a deep bench of talent in aerospace, AI and green infrastructure, Vancouver provides the intellectual capital necessary to drive the bank’s mission. We are ready to provide the resilient, modern physical environment this institution requires to safeguard our collective future, all within one of the world’s most stable and livable urban centres.”

Tamara Vrooman, president and CEO, Vancouver International Airport –

“Vancouver International Airport is built to connect Canada to the world, and that same global reach underpins Vancouver’s bid to host the Defence, Security and Resilience Bank. From here, institutions can operate seamlessly across the Indo-Pacific, Europe and North America in a single day. Vancouver offers the connectivity, reliability and readiness a global security institution needs to succeed from Day 1.”

Mike Hurley, chair, board of directors for Metro Vancouver –

“Invest Vancouver is proud to support efforts to attract the DSR Bank to the Metro Vancouver region, as this investment aligns strongly with our region’s economic strengths and long-term priorities. As Canada’s third-largest economic hub, the region offers world-class talent, a reputation for exceptional quality of life, and global connectivity allowing same-day business with Europe, Asia and North America.”

Mark Podlasly, CEO, First Nations Major Projects Coalition –

“A global institution like the Defence, Security, and Resilience Bank represents the kind of long-term investment that can unlock opportunity here at home and abroad. First Nations are ready to participate as economic partners and contributors to resilient, future-focused institutions that mobilize capital with purpose. Vancouver’s infrastructure, talent and global connections make it a compelling home for an institution of this scale.”

Grant Damery, managing director, enterprise strategic clients, RBC –

“I hope Canada is selected to establish the Defence Security and Resiliency Bank, and the prime minister selects Vancouver as its headquarters. In addition to its natural beauty, I think Vancouver offers many attractive considerations including bringing together world-class talent, advanced technology and the Pacific gateway that strengthens Canada’s economic and national security.”

Contacts:

Office of the Premier
Media Relations
Premier.Media@gov.bc.ca

Ministry of Jobs and Economic Growth
Media Relations
250-880-5179

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