Banking

Top ranks shuffled at CIBC Fallback Image Decorative pattern

Industry

Top ranks shuffled at CIBC

CIBC has announced an overhaul in its senior leadership, sparked, it would appear, by the departure of Sonia Baxendale, senior executive vice-president and president of retail markets is leaving CIBC. “I would like to thank Sonia for her significant contribution to CIBC over many years,” said Gerry McCaughey, president and CEO of the bank. “Thanks […]

By Staff |March 28, 2011

1 min read

OBSI cases set record in 2010 Fallback Image Decorative pattern

Industry

OBSI cases set record in 2010

The banking and investment industry set a dubious record in 2010, as review by the Ombudsman for Banking Services and Investments topped 1,000 for the first time its OBSI’s 15-year history. “The fact that complaints have reached another new high demonstrates yet again that financial sector consumers need and deserve an impartial and effective alternative […]

By Staff |March 10, 2011

1 min read

Independence both a blessing and a curse Fallback Image Decorative pattern

Planning and Advice

Independence both a blessing and a curse

With the recent acquisition of DundeeWealth Inc. by the Bank of Nova Scotia, the top 5 banks in Canada now control two thirds of the mutual fund assets under management and about one half of the licensed representatives that distribute mutual funds in Canada. It won’t be long until the disadvantages of an oligopoly will […]

By Vince Valenti |March 7, 2011

4 min read

Bank profits to drive 2011 expansion Fallback Image Decorative pattern

Industry

Bank profits to drive 2011 expansion

Coming out of the recession, Canada’s banking sector looks better than many of its global peers. Tough regulation ensured that the banks steered clear of the leverage minefield that sank some foreign competitors and 2010 profits have topped records set in 2007. This presents the sector with unprecedented opportunities for growth and expansion, according to […]

By Steven Lamb |March 7, 2011

1 min read