Industry

Manulife cuts 700 jobs as part of digital transformation

Manulife announced on Thursday it will cut 700 jobs as part of a digital transformation plan. Manulife has launched a program to digitize customer transactions and consolidate “administrative and operational back office functions.” The resulting job cuts will come from voluntary exits and natural attrition in the next 18 months, said the financial services company […]

By Staff, with files from The Canadian Press |June 21, 2018

1 min read

Banks team with virtual assistants, raising security concerns

Hey Alexa, what’s my bank account balance? Big banks and financial companies in the U.S. have started to offer banking through virtual assistants—Amazon’s Alexa, Apple’s Siri and Google’s Assistant—in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voices. And with the […]

By Staff, with files from The Associated Press |June 20, 2018

3 min read

General Electric booted from Dow

After more than a century in the Dow Jones Industrial Average, multinational industrial General Electric (GE) will be replaced by pharmacy chain Walgreens Boots Alliance when trading begins on June 26, reports the Financial Times (with paywall). GE was an original member of the index in 1896 and has been a continuous member since 1907, […]

By Staff |June 20, 2018

1 min read

MFDA’s strategic plan includes boosting advisor professionalism

If you’re an MFDA advisor, your regulator wants to enhance your professionalism. The MFDA has published its strategic plan for the next four years (2018-2022), comprising three strategic goals, one of which is collaboration and education. Specifically related to that goal, the SRO says it will strengthen advisor proficiencies and professionalism, and establish a continuing […]

By Staff |June 20, 2018

1 min read