Industry News

Briefly:

(January 9, 2008) Power Financial has announced the appointment of Philip K. Ryan as executive vice-president and chief financial officer, effective no later than January 31, 2008. He will assume the same titles at Power Corporation of Canada. Ryan will succeed Power Financial’s outgoing CFO, Michel Plessis-Bélair, who will continue as a director of Power […]

By Staff |January 9, 2008

3 min read

Fidelity offering addresses draw-down

Fidelity Investments Canada has launched the country’s first major mutual fund–based retirement income product to challenge the insurance industry’s guaranteed minimum withdrawal products. With boomers racing toward retirement, financial firms have been devoting their resources to developing an investment portfolio that provides a retirement income while growing assets quickly enough to mitigate the risk of […]

By Mark Noble |January 9, 2008

3 min read

Bousada’s departure worries analysts

With Tye Bousada’s departure from AIM Trimark’s flagship fund yesterday — the third top employee to leave the firm — analysts are concerned about the company’s future. Dan Hallett, an independent fund analyst, says Bousada’s unexpected exit from Trimark Fund puts AIM Trimark “between a rock and a hard place,” especially since the company still […]

By Bryan Borzykowski |January 9, 2008

4 min read

Briefly:

(January 8, 2008) The global credit crunch isn’t good news for anyone, especially Toronto-based rating agency DBRS. The company shut down its three European offices on Tuesday. The closures affect 43 people in Frankfurt, Paris and London. DBRS says coverage of European credit would be done from North America, just as it was before the […]

By Staff |January 8, 2008

3 min read