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May 6, 2015

Sun Life CEO sees Asian, asset management units driving growth

TORONTO, May 6 (Reuters) – Canadian insurer Sun Life
Financial Inc expects gains in its Asian and asset
management segments to drive growth this year and beyond, it’s
chief executive said on Wednesday.

Sun Life CEO Dean Connor’s comments came a day after the
company, whose rivals include Manulife Financial Corp
and Great-West Lifeco Inc, reported a first-quarter
profit that topped market expectations and raised its quarterly
dividend.

May 4, 2015

TSX at one-week high as Couche-Tard, financials gain

TORONTO, May 4 (Reuters) – Canada’s main stock index hit a
one-week high on Monday, helped by strength in the financial
sector and shares of Alimentation Couche-Tard.

Convenience store operator Couche-Tard was by far the most
influential gainer on the index. Its shares climbed 4.6 percent
to C$47.59, recouping some of last week’s losses, after the
company issued a statement to clarify that the Circle K Corp
referenced in a Chapter 11 bankruptcy filing in the United
States was not its subsidiary.

Apr 29, 2015

Exclusive: Hedge fund Mangrove urges Atlantic Power to return cash – sources

TORONTO/NEW YORK (Reuters) – Hedge fund Mangrove Partners is urging Atlantic Power Corp (ATP.TO: Quote, Profile, Research, Stock Buzz) to return cash to shareholders and could push for a possible sale or break-up of the company, according to two sources with knowledge of the situation.

Mangrove, which owns about 7.5 percent of Toronto-listed Atlantic, is looking at all options to unlock value at the owner of U.S. and Canadian power plants, the sources said.

Apr 29, 2015

Hedge fund Mangrove urges Atlantic Power to return cash -sources

TORONTO/NEW YORK, April 29 (Reuters) – Hedge fund Mangrove
Partners is urging Atlantic Power Corp to return cash
to shareholders and could push for a possible sale or break-up
of the company, according to two sources with knowledge of the
situation.

Mangrove, which owns about 7.5 percent of Toronto-listed
Atlantic, is looking at all options to unlock value at the owner
of U.S. and Canadian power plants, the sources said.

Apr 23, 2015

CIBC loses advisory vote on executive compensation at AGM

Calgary, April 23 (Reuters) – Canadian Imperial Bank of
Commerce lost an advisory vote on its executive
compensation structure on Thursday, in the face of blowback from
investors over mega payments to two retired executives.

Two of Canada’s top pension fund managers, Ontario Teachers’
Pension Plan Board and the Canada Pension Plan Investment Board
(CPPIB), last week both outlined plans to oppose the bank’s pay
structure in a nonbinding vote.

Apr 23, 2015

CIBC says it in talks on potential $2 billion U.S. acquisition

CALGARY (Reuters) – Canadian Imperial Bank of Commerce (CM.TO: Quote, Profile, Research, Stock Buzz) is in talks with several U.S. companies on a potential $2 billion wealth-management and private-banking acquisition, its top executive said in an interview.

But Chief Executive Victor Dodig said CIBC, which has been eyeing the U.S. wealth management space for a while, must be patient as such companies don’t come cheap.

Apr 17, 2015

Two top Canada pension funds to oppose CIBC’s executive pay plan

TORONTO, April 17 (Reuters) – Two of Canada’s largest
pension funds, shareholders of Canadian Imperial Bank of
Commerce, said on Friday they will demonstrate their
unhappiness with CIBC’s executive pay structure at the lender’s
annual meeting next week.

The Ontario Teachers’ Pension Plan Board, vexed by
multimillion-dollar payments to two retired executives, plans to
withhold support for members of CIBC’s compensation committee
and to oppose the bank’s pay structure in a nonbinding vote.

Apr 17, 2015

India’s Modi courts Canadian banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded a bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 17, 2015

Modi courts Canada banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 9, 2015

Scotiabank sees opportunities in Pacific Alliance bloc

OTTAWA, April 9 (Reuters) – Bank of Nova Scotia
expects strong growth this year in the Pacific Alliance markets
of Mexico, Peru, Chile and Colombia, and could make acquisitions
to bolster its position there, a top executive said on Thursday.

“We’re seeing momentum in the international division,”
Scotiabank Chief Financial Officer Sean McGuckin said in an
interview. “We’re seeing good, top-line volume growth in the
Pacific Alliance countries. We’re projecting out stronger growth
in our international banking segment as the year progresses.”