Industry News

Briefly: “United Financial reassigns fund managers” and more news

United Financial has announced changes to the management of 13 managed portfolios, some of which will now be managed by corporate cousins under the CI Financial umbrella. Three U.S. Equity Value mandates will be transferred from AllianceBernstein to Epoch Investment Partners. The three International Equity Value mandates managed by AllianceBernstein and AGF International Advisors will […]

By Staff |February 27, 2009

4 min read

Banks agree to shareholder proposals on executive pay

In a major victory for the “say on pay” campaign, two of Canada’s big banks have agreed to implement a shareholder resolution on executive compensation. At its annual general meeting on Thursday, RBC shareholders voted 54.4% in favour of a resolution filed by Meritas Mutual Funds and 56.9% in favour of a similar resolution filed […]

By Doug Watt |February 27, 2009

2 min read

Canadian banks show resilience

Globally, financial service stocks have offered investors a rough ride — but if you are going to put your money in the sector, it appears Canadian banks are the place to be. Three of Canada’s “Big Five” banks have reported positive quarterly earnings in the last couple of days, highlighting their resilience in an extraordinarily […]

By Mark Noble |February 26, 2009

4 min read

Falling stocks force banks to market

It may have marked the worst period of stock market performance since the Dirty Thirties, but the fourth quarter of 2008 saw a surge in equity issuance, according to the Investment Industry Association of Canada. Equity financings for the final three quarters totalled $12.7 billion, thanks in large part to the financial sector’s need to […]

By Steven Lamb |February 26, 2009

2 min read