Boomers currently make up less of the workforce than ever before, with their promotion rates in the banking industry alone falling from 5% to 3% since 2006. One might think the current majority of Gen X employees are be filling that gap.
National Bank has announced the retirement of Rejean Levesque, executive vice-president of personal and commercial banking.
Canadian banks, despite being the envy of their global peers, will face a challenging year due to regulatory demands and a fragile global economy, according to PwC’s annual review of the banking industry.
Scotiabank has announced the closing of its acquisition of a 51% stake in Banco Colpatria, citing “significant growth opportunities in Colombia”. Long-term partner Mercantil Colpatria will retain 48.7% ownership.
While there is a prevailing sense of caution among Canada's big banks over the domestic real estate market, it's the situation in Europe that's keeping the CEOs awake at night.
Scotiabank has announced executive management changes, including the creation of a new position.
The Ombudsman for Banking Services and Investments (OBSI) has come out swinging, following the withdrawal of Toronto Dominion Bank the organization.
Moody’s today downgraded its ratings for 12 British financial institutions, including Lloyds TSB Bank and Royal Bank of Scotland. The ratings agency said it thought Prime Minister David Cameron’s government was less likely to rescue the institutions in the event they collapsed.
The departure of UBS CEO Oswald Gruebel has exacerbated the fallout from the $2.3 billion loss the bank suffered from unauthorized trading less than two weeks ago.
Scotiabank has announced the purchase of a 19.99% stake in the Bank of Guangzhou, at a price of C$719 million.