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VICTORIA CAPITAL CLUB

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Early Days

 

In the early 1980s, business networking associations like the Victoria Capital Club (VCC) were still in their infancy. In 1984, Brian Dyer shared the concept of forming such a club with three close business associates, who embraced the idea enthusiastically. This meeting became the genesis of what would officially emerge as the Victoria Capital Club during the winter of 1985–1986.

The club’s original purpose was to promote members’ mutual business interests through networking and to share information about new business opportunities. Our initial name, the 'Business Executive Network Club,' was later changed to 'Victoria Capital Club,' reflecting our growing focus on venture capital and private equity investing.

Membership grew steadily in the early years, eventually settling on a limit of 30 members. Remarkably, as of 2025, seven individuals have remained members since those early days: Brian Dyer, Chris Causton, Steve Clark, Jim Nicholl, Rick Pettinger, Terry Williams, and Rob Wallace.

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Leadership and Operations

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The first Executive comprised a Chair and a Treasurer. Brian Dyer served as the inaugural Chair for a two-year term, establishing a 2 year tradition that continued thereafter. Over the first two decades, ten different Chairs guided the club. Eventually, the roles of Chair and Treasurer merged into a single position responsible for finances and membership oversight.

From the beginning, simplicity governed our rules: no minutes, and meetings concluded promptly at 2:00 p.m. Originally held every second Thursday, meetings later shifted to the first and third Thursdays of each month—reducing the chance of members arriving on the wrong day! A non-smoking policy was also introduced long before it became commonplace.

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Locations

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The club met in several venues before finding its long-term home at the Union Club. Early locations included The Causeway Restaurant, Rattenbury’s, The Regency on Government, Murchie’s, The Courtyard Inn, and the Victoria Golf Club. The Union Club’s downstairs private dining room became the preferred setting for its dignified atmosphere and excellent service—at a cost of just $7.50 per lunch in those days.

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Evolution of the Club

 

Over the decades, technology and demographics have shaped the club’s evolution. In the 1980s, most members worked within walking distance of the Union Club and relied on fax and mail for communication. The rise of email in the 1990s streamlined operations, while population growth across Greater Victoria—rising from 264,000 in 1985 to 415,000 today—diversified the membership and their business backgrounds.

The club’s website, introduced in 2010 through the efforts of Jim Nicholl, further modernized communication and helped preserve the VCC’s legacy.

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Membership

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Initially capped at 30 members, the club occasionally exceeded this number as attendance frequency declined. In the 1980s, the average member was in their mid-40s; today, that average has increased at least by 15 years. However, new members joining in 2025 have lowered it again—an encouraging sign for the club’s vitality.

The Union Club was an all-male institution until 1994, when women were admitted as full members. While women occasionally attended VCC events before then, their participation increased only gradually. Notable female members have included Ethel Taylor (Sears Canada), Chris Cuff (TD Bank), (both of whom moved away from Victoria) and Ruth Getter (TD Bank Chief Economist) whose job took her all over Canada.

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Social Activities

 

Major activities of the club over the years have included

• Boat trips to Pender Island (one member was a co-owner of Bedwell Harbour)

•  Social functions at members’ homes – during the summer time

• Sea King Helicopter trip arranged by a Club Member

•  HMCS Qu’Appelle – (a naval destroyer) - one day trip, again arranged by a club member

• Dinner/Lunch functions, often with a guest speaker (see below)

 

Over the years, we have had many entertaining and enlightening meals with a wide array of speakers over lunch and dinner, including the following:

• Peter Picherack - Cadillac Fairview, the creator of the Eaton Centre in Victoria

Peter C Newman – discussion re power brokers on Parliament Hill and boardrooms 

• Clare Copeland - Clare had a very distinguished career in media and the auto business.

•  Ruth Getter - Chief Economist of TD bank.

• Preston Manning - Founder of the Reform Party in Canada

• Ron Longstaffe - CEO of the 1994 Commonwealth Games

•  Gordon Campbell - Premier of BC

•  Peter Thomas - Peter, Founder of Century 21 fame

• Fiona McFarlane - Managing Partner of Ernst Young Canada, explained the new GST tax

•  David Lam - Lieutenant Governor of BC

•  Alan Filmer - Deputy Minister in the BC Government in charge of Privatization

•  John Rustad told us why he should be Premier of BC

•  Sydney Colman - survivor of a catastrophic hurricane in the Caribbean

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Business Segments Represented by Members

 

Development and construction industry

Property development companies in Victoria and elsewhere

Prominent owner/operated construction companies

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Education

2 past Presidents at the University of Victoria

Director of School of Business at the University of Victoria

Chair of Advisory Board at the University of Victoria

Gustavson School of Business relationship

Several Board positions of major independent schools.

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Economics

Chief Economist of the TD Bank

Senior Economist with BCA research – an internationally respected research firm

 

Financial

CEO of the Canadian Bankers Association

CEO’s and Founders of Custom House Currency Exchange and also Money Mart

CEO and Founder of a mortgage brokerage company in Victoria

Several Victoria managers of TD Bank and BMO

CEO and President of Bank of Montreal, Canada

CEO of BCI (BC Investment Management Company)

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Government – Federal, Provincial and Local

Cabinet and deputy ministers

Minister of Finance of BC

Mayors of Oak Bay and Saanich

Chair of CRD.

Head of Canadian Security Intelligence service – CSIS

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Health and Fitness

Chief of Cardiac Surgery at RJH

Director of Heart Health for Vancouver Island Health Authority

Divisional Head of orthopedic surgery in Victoria

Past President of the British Columbia Orthopedic association

Owner operator of large fitness, sports and wellness business

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Hospitality

Owner of Victoria Pub Company

General manager of the Empress Hotel

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Technology

Significant involvement in a wide variety of businesses

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Media

Founder of large trans-Canadian Cable company

CEO of a marketing company in Victoria

Widely recognized journalists

Publishers of numerous newspapers and journals

General Manager of CHEK-TV

Authors of journals and other publications

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Merchandising

Retailers in a variety of business operations

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Professionals

CPA’s -Senior partners and Fellows of the Institute and prominent lawyers in Victoria

Incoming President of the Institute of CPAs of BC

Past president of the Royal Architectural Institute of Canada

Senior investment counsellors in Victoria

Real estate sales - including Victoria’s top realtor for several years

Commercial real estate sales

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Transportation

2 former CEOs of BC Ferry corporation

CEO of a fast ferry company

CEO of a major bus company

Venture capital and investing activities

A number of our members were and are still engaged in providing capital for emerging companies.

 

Closing Reflections

 

From Expo ’86 to the 1994 Commonwealth Games and 2010 Winter Olympics, from fax machines to iPads, the world has changed dramatically—but the Victoria Capital Club endures. Our strength lies in camaraderie, respect, and the sharing of ideas among friends and colleagues. To that enduring spirit, we raise our glasses and say:

 

“May the Victoria Capital Club continue to thrive for another 25 years with the same fellowship and vitality that marked its first forty.”

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