Scotiabank was named the global bank of the year by The Banker magazine, a Financial Times publication.
Royal Bank of Canada has reported record net income of $7.5 billion for the year ended October 31, 2012, up $1.1 billion or 17% from the prior year.
Scotia Asset Management L.P. has launched six new mutual funds, including four new core mandates to Scotia Corporate Class Funds and two new mutual fund trusts to ScotiaFunds. The four corporate class funds are Scotia Fixed Income Blend Class, Scotia Canadian Equity Blend Class, Scotia U.S. Equity Blend Class and Scotia International Equity Blend Class. […]
When it comes to making investment decisions, many Canadians admit to engaging the emotional right side of the brain rather than the logical left. Two in five (40%) Canadians say emotions play a role in their investing decisions, says the latest BMO Psychology of Investing Report. Read: Do your clients make these mistakes? “While we’re […]
CIBC Asset Management Inc. (CAMI) intends to replace Aletheia Research and Management, Inc. as sub-advisor for its Imperial U.S. Equity Pool, Frontiers U.S. Equity Pool, Renaissance U.S. Equity Growth Fund and Renaissance Global Focus Fund. Read: CIBC is Canada’s strongest bank…or is it? On November 11, 2012, Aletheia filed for protection under Chapter 11 of […]
The majority of Canadians find lack of affordability a real barrier to their saving efforts, says a recent Scotiabank poll. “We know that every customer’s finances are unique and require a saving or investing plan tailored to work for each specific situation,” said Mike Henry, senior vice-president of retail payments, deposits and lending at Scotiabank. […]
The Financial Services Authority (FSA) is investigating allegations that State Street overcharged Ireland’s state pension fund, as well as the Royal Mail and Sainsbury pension funds, reports ft.com. Read: Fraud slipping past Canadian regulators Ireland’s national debt agency says it notified Irish police that State Street reaped €3.2m in improper fees and trading profits from […]
New York’s attorney general is filing a civil lawsuit against Credit Suisse for misleading investors who lost billions of dollars due to mortgage-backed securities, reports reuters.com. Read: SEC charges J.P. Morgan, Credit Suisse with misleading investors The lawsuit is expected to be filed tomorrow. It alleges that Credit Suisse misrepresented the quality of loans packaged […]
Several U.S. banks, including Ally Financial, Bank of America, JPMorgan Chase, Citigroup and Wells Fargo, are providing billions of dollars in mortgage relief to homeowners, reports ft.com. Read: Vik’s Pick: Slow and steady U.S. hops over Canada The move comes as part of a settlement with regulators earlier this year, and is aimed to help […]
Canada’s biggest banks will remain with the Ombudsman for Banking Services and Investments (OBSI) for 2013. This includes Scotiabank, BMO, CIBC, National Bank of Canada, HSBC Bank Canada, ING Bank of Canada, and Laurentian Bank of Canada. Read: Rules change to funnel complaints through OBSI At the same time, several new banks have joined OBSI, […]