Industry News

Briefly: “Thow waives extradition hearing” and more news

Disgraced former investment advisor Ian Thow has waived his right to an extradition hearing, meaning he’ll likely soon be in Canada to face charges of investment fraud. Thow, who’s been accused by some of bilking former clients in Victoria, B.C., by more than $30 million, appeared in United States Federal Court in Seattle, Washington, regarding […]

By Staff |March 4, 2009

4 min read

Equity funds continue long decline: Morningstar

The vast majority of Canadian equity mutual funds saw declines in February, further adding to the cumulative losses of the past six months, according to data from Morningstar Canada. The double-digit losses prevalent in previous months subsided, but Morningstar points out that much like in January, almost all of the Morningstar Canada Fund indexes that […]

By Mark Noble |March 3, 2009

2 min read

AIG to spin off operations

AIG will spin off its major operations into independent companies in what CEO Edward Liddy calls “the most extensive corporate restructuring in American history.” The financial services conglomerate is “too big” to reposition as a single entity, and the company’s latest steps will maintain its core businesses as it works to strengthen its capital base […]

By Terri Goveia |March 3, 2009

3 min read

Briefly: “DundeeWealth shuffles senior management” and more news

DundeeWealth has moved around a couple of its top executives into new positions within the company. David Whyte has been announced as the company’s vice-chair and chief operating officer. Whyte, a 30-year veteran of the mutual fund industry, has been with DundeeWealth since 2005 and was most recently the vice-chairman of distribution and investments of […]

By Staff |March 3, 2009

3 min read