Did you even read this example I gave? I never said the banks were not diverse:
An example, say the bank employs 1,000 people in year 1, 800 in traditional markets and 200 in energy and in year 2 they employ 1200 people, 850 in traditional markets and 350 in energy. The banks still saw good growth and are still healthy in their traditional markets, but the majority of their growth has come from energy.
This is what I'm talking about that is so frustrating about ignoring KEY points I'm making. I never said that Canada's banks are no diverse, I just said that the high growth industry right now fueling the growth in the banks is energy. Their existing and previous growth engine industries are still there, but they are just not growing like they used to.
Also it is important to note that investments are just one of the key components that make up at Tier 1 bank. The majority of the sought after jobs in a bank are in their client advisory positions, which involve performing M&A transactions, issuing debentures and equities, and general consulting, which provide the bulk of employment and spin off employment in the Toronto finance world. Where the bank has invested its capital actually provides far less employment to Toronto than the other services provided by banks.