As Toronto looks to elect a new mayor in the coming months, observers say international investors are looking for another business-savvy leader like John Tory to take the helm.
, capping off a turbulent week at Toronto City Hall that started Feb. 10 when he announced his resignation after admitting he had an "inappropriate relationship" with a former staffer.
Tory, 68, is a member of Toronto's business and political elite, and honed that reputation over the course of his business and broadcasting careers before entering politics as a straitlaced moderate conservative. He sits on the advisory committee of the Rogers family trust, which controls Rogers Communications Inc.
"If the next mayor's someone who might be considered unfriendly to businesses, that could potentially have an economic impact on American investment in Toronto," Speel said. "There's probably trade trips or meetings that are already scheduled, that are on the book that will take place," said Zac Spicer, an associate professor with York University's public policy and administration department.
Investors and Toronto residents alike may also want a mayor "similar to Tory" because the city is still overcoming some of the economic hardship caused by the COVID-19 pandemic, James said. Another factor on the city's side for keeping a good reputation on the international stage could be how quickly Tory announced plans to resign after news of his affair broke.
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