TORONTO, Jan 9 (Reuters) – Low interest rates and favorable
market conditions spurred a banner year for corporate and
government debt issues in Canada in 2013, with Royal Bank of
Canada emerging as the big winner among banks that worked
on the deals.
RBC, Canada’s largest bank, was the lead book runner on the
lion’s share of the issues, accounting for about 22 percent of
overall debt deal volumes in 2013, according to data released by
Thomson Reuters on Thursday.
TORONTO, Dec 12 (Reuters) – Bank of Nova Scotia’s
new chief executive, Brian Porter, said the lender will not
follow the lead of competitors that have sought to expand their
retail banks through U.S. acquisitions, but will instead push to
grow within its current Canadian, Latin American and Asian
“Are we going to make a (U.S.) acquisition on the retail
side? The answer’s ‘no’,” he told Reuters in an interview on
TORONTO, Dec 10 (Reuters) – Bain Capital, the U.S. private
equity firm, has bought a majority stake in Canada Goose Inc, a
family-owned company which had been seeking an investor to help
it meet demand for its high-end cold-weather gear.
The two companies did not disclose the purchase price or the
size of the majority stake bought by Bain, but said in a
statement on Tuesday that Canada Goose Chief Executive Dani
Reiss will remain in his position and maintain a “significant”
stake in the company.
TORONTO (Reuters) – Bank of Nova Scotia (BNS.TO: Quote, Profile, Research, Stock Buzz) reported a 12 percent rise in quarterly profit due to its acquisition last year of online bank ING Direct, but the results were marred by a sluggish performance at its international and investment banking units.
The results from Scotiabank, Canada’s No. 3 lender, cap off a fourth-quarter earnings period that saw the country’s top lenders benefit from steady if unspectacular growth in domestic lending and strong wealth management returns.
TORONTO, Dec 6 (Reuters) – Bank of Nova Scotia
reported a 12 percent rise in quarterly profit due to its
acquisition last year of online bank ING Direct, but results
were marred by a sluggish performance at its international unit.
Shares of Scotiabank, Canada’s No. 3 lender, were up 0.7
percent at mid-morning, slightly underperforming most of its
TORONTO (Reuters) – Royal Bank of Canada Chief Executive Gordon Nixon will step down next summer after 13 years at the helm of Canada’s largest bank, handing the reins to the RBC’s retail banking head, Dave McKay, the bank said on Thursday.
Nixon is the longest-serving of Canada’s current crop of bank CEOs, but at 56, by no means the oldest. McKay, 50, had been widely expected to be Nixon’s heir apparent, though not quite so soon.
TORONTO, Dec 5 (Reuters) – Royal Bank of Canada
Chief Executive Gordon Nixon will step down next summer after 13
years at the helm of Canada’s largest bank, RBC said on Thursday
as it announced a stronger-than-expected quarterly profit.
Nixon is the longest-serving of Canada’s current crop of
bank CEOs, but, at 56, by no means the oldest. He will hand off
to RBC’s retail banking head, Dave McKay, in a move that
analysts said was expected, just not so soon.
TORONTO (Reuters) – Toronto Mayor Rob Ford may have offered cash and a car to buy a video allegedly showing him using crack cocaine, according to notes from police wiretaps.
Details of the alleged offer were included in a 450-page police document released on Wednesday by an Ontario Superior Court judge after a petition by media lawyers.
TORONTO, Dec 3 (Reuters) – Quarterly earnings at Bank of
Montreal rose 1 percent due to stronger wealth
management profit, and Canada’s No. 4 bank raised its dividend,
but its shares fell on Tuesday on the back of a sluggish
performance at its U.S. Harris Bank unit.
Shares of BMO, the first Canadian bank to report fiscal
fourth-quarter results, were down 3.7 percent at mid-morning,
making BMO the weakest performer among financial stocks on the
Toronto Stock Exchange’s benchmark index.
TORONTO (Reuters) – More than 40 percent of Toronto voters still approve of the job Mayor Rob Ford has done, even after he admitted smoking crack cocaine and city council stripped him of much of his authority.
A Forum Research survey of 1,049 Toronto voters released on Friday showed that 42 percent of respondents approve of the job Ford has been doing as mayor of Canada’s largest city.