Home Capital's executive roster justifies investors' lack of faith
We are rightly proud of Canadian financial institutions' strength and resilience during the previous decade's financial crisis. There's a downside, though: Canadians don't have a lot of recent experience with lenders who run into trouble.
Thanks, Home Capital Group, for changing all that. The alternative mortgage lender has been doing its best to convince the markets there are no long-term impacts to the Ontario Securities Commission's decision to charge current and former members of management with misleading investors in 2015. Story
Cenovus faces miffed investors over big-bite acquisition
Investors are mad as hell and we'll soon find out how they're going to take it.
Some of Cenovus Energy Inc. shareholders are seething over the company's $17.7-billion oil sands and natural gas acquisition and things could get tense at the company's annual meeting on Wednesday. Since Cenovus announced the deal with ConocoPhillips on March 29, its shares have lost nearly a fifth of their value. Story
CPPIB sees growing demand for prestigious private schools
The Canada Pension Plan Investment Board is counting on increasing global demand for reputable private schools in its latest investment in an education company.
The country's largest pension fund said Tuesday that it would invest in the privatization of Hong Kong-based Nord Anglia Education Inc., alongside current majority owner Baring Private Equity Asia. The company operates 43 international schools in 15 global markets that educate more than 37,000 students from kindergarten through to the end of high school. Story
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Goldman Sachs names new head of equity capital markets in Canada
Goldman Sachs Group Inc. has formally named banker Ian Taylor the head of equity capital markets (ECM) for Canada.
Mr. Taylor is tasked with driving engagement between Goldman's Canadian issuer clients, its sector-focused ECM teams and its investing clients in Canada, the United States and around the world, the bank said in a memo on Thursday. Story
Canaccord adds to its Canadian capital markets arm
Canaccord Genuity is adding to the top ranks of its Canadian capital markets business.
It has hired Chris Blackwell to be its head of investment banking in Canada and is promoting Jason Melbourne to be its head of institutional equity sales and trading/securities in Canada, the bank said in a staff memo on Wednesday.
Mr. Blackwell will have oversight over all non-resource investment banking activities and will work closely with Ted Hirst, the head of global resources. He will be based in Toronto. Story
GMP chief says FirstEnergy deal paying off amid weak market
Energy-market conditions have been anything but ideal for GMP Capital Inc. since it bought FirstEnergy Capital last summer, but the acquisition is paying off for Canada's largest independent dealer regardless, its chief executive officer says.
GMP acquired FirstEnergy, a prominent boutique brokerage, for $98.6-million to bolster its position in energy banking after its own franchise in Calgary had weakened. The market had looked as if it was recovering while its integration of FirstEnergy got under way, but the rebound stalled. Story
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