TORONTO (Reuters) – Canadian insurer Sun Life Financial Inc (SLF.TO: Quote, Profile, Research, Stock Buzz) is interested in raising its stake in its Birla Sun Life Insurance joint venture in India as it weighs several acquisition opportunities in Asia and North America, its top executive said on Thursday.
Birla Sun Life is a joint venture with Indian conglomerate Aditya Birla Group and is one of India’s biggest insurance companies.
TORONTO, Aug 6 (Reuters) – Manulife Financial Corp
reported a higher adjusted quarterly profit that was in line
with market expectations on Thursday, boosted by growth in its
wealth management and life insurance operations.
Core profit at its wealth and asset management business
climbed 20 percent in the second quarter, while earnings at its
insurance division rose 22 percent. The company says core profit
is a measure of underlying earnings capacity that excludes the
impact of short-term factors such as fluctuations in interest
TORONTO, Aug 4 (Reuters) – Canada’s main stock index climbed
modestly on Tuesday as strength in its consumer discretionary
and consumer staples groups overwhelmed a decline in the energy
The Toronto Stock Exchange was closed on Monday, a public
holiday in most of Canada, when U.S. indexes slipped on weaker
TORONTO, Aug 4 (Reuters) – AGF Management Ltd, one
of Canada’s largest independent fund managers, expects its push
into the institutional segment and infrastructure-related
investments to drive growth over the next few years, its top
executive said on Tuesday.
The shift is part of a broader strategy to diversify beyond
its core mutual fund business, which has struggled with
redemptions by retail investors since the 2008 financial crisis.
TORONTO, July 24 (Reuters) – Canadian mining-focused
investment bank Edgecrest Capital has put itself on the auction
block, hurt by a prolonged downturn in the natural resource
sector that has hit fees and activity, according to two sources
familiar with the situation.
The move comes two years after Toronto-based Edgecrest,
which is led by investment banker David Beatty, opened shop. The
company acquired boutique dealer Stonecap Securities Inc and its
U.S. unit last year and made some hires earlier this year.
TORONTO, July 19 (Reuters) – Boutique advisory firm INFOR
Financial Group said on Sunday it agreed to buy the Canadian
operations of U.S. underwriting services provider Incapital
Holdings, boosting its presence in the Canadian investment
The value of the deal was not disclosed. The acquisition
will make Toronto-based INFOR a registered investment dealer and
full-service underwriter in the Canadian market, allowing it to
provide a broader range of services.
TORONTO, July 14 (Reuters) – Canadian money manager CI
Financial Corp wants to expand its small presence in
the fiercely competitive U.S. market with acquisitions worth
C$500 million ($392.25 million) to C$1 billion, its top
Chief Executive Stephen MacPhail also said that the
Toronto-based firm, which manages assets worth C$109 billion
now, targets C$150 billion in assets under management over the
next three to five years,
(Reuters) – Canada’s Rogers Communications (RCIb.TO: Quote, Profile, Research, Stock Buzz) has put The Shopping Channel up for sale and received interest from foreign buyers for the television asset that may fetch over C$300 million ($237 million), according to three people familiar with the matter.
The move fits into a refreshed strategy at Rogers, which hired a chief executive with a reputation as a turnaround artist in late 2013, as it tries to shake up its corporate culture and stem declines in its wireless and cable divisions, the company’s biggest sources of revenue.
TORONTO (Reuters) – Canadian startup Influitive, a marketing-software provider, has raised $30.5 million in funding as it looks to finance growth and expand into Europe and Asia, its top executive said on Thursday.
Canadian and U.S. technology companies have been benefiting from a recent flood of venture capital-investments with investors rushing to buy stakes in promising startups as early as possible.
TORONTO, July 6 (Reuters) – A raft of Canadian companies set
up with a mandate to make acquisitions and led by prominent Bay
Street names is taking advantage of buoyant capital markets and
strong demand from institutional investors.
Several other such vehicles are set to flood the Canadian
market this year and are in the process of pitching their cases,
said three banking sources who are familiar with the plans but
are unauthorized to speak publicly about them.