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Here are the top reads on deals and financial services over the last week:

FINANCIAL SERVICES NEWS

TMX Group’s CEO Eccleston retires early after employees complain of bullying, toxic workplace: TMX Group Ltd. chief executive Lou Eccleston is retiring amid allegations from TMX employees that he bullied colleagues and fostered a toxic work environment, The Globe and Mail has learned, adding a new dimension to the company’s rationale for his early departure. Story. (Tim Kiladze, Niall McGee, Clare O’Hara)

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Bank stocks turn volatile as loan losses rise under new rules: For investors in Canadian banks, volatility has arrived. Monthly returns for Canadian bank shares have surged or fallen by more than 5 per cent, six times in the past 15 months. That’s an unusually high frequency of large swings – and some say it’s because their earnings are now less predictable, due to new international accounting rules that have changed how banks must record loan losses. Story (James Bradshaw)

Are Canadian banks in for another tepid year?: For investors who count on Canadian bank stocks to deliver steady profit growth and market-beating returns, their performance in 2019 was only so-so. Brace yourself: Analysts expect 2020 won’t be much better, which is why Tuesday’s conference of bank chief executive officers is a must-watch event. Story (David Berman)

Catalyst extends life of $1-billion investment fund, says it needs more time to sell assets: Catalyst Capital Group Inc. has pushed back by one year the deadline for returning money to backers of one of its largest funds, and warned investors it might need another extension to buy time to cash in its holdings. Story (Andrew Willis)

CI Financial’s new CEO plots a change in direction amid industry challenges: On the first day he took the reins as chief executive of CI Financial, Kurt MacAlpine sent out a company-wide e-mail introducing himself to more than 2,500 employees. By the end of the day, several hundred responses had poured in, many offering ideas about what he should consider improving at the asset-management company. Story (Clare O’Hara)

CIBC hires former cabinet minister Lisa Raitt in investment banking role: Former federal cabinet minister Lisa Raitt is leaving politics and joining Canadian Imperial Bank of Commerce as vice-chair of global investment banking. Ms. Raitt will focus on developing and nurturing relationships with key clients, and bringing in new business for CIBC, especially in the energy, infrastructure and industrial sectors. Story (James Bradshaw)

DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS

Private is the new public: Canadian tech stars are avoiding IPOs by chasing private cash. Investors are losing out: As many as 15 to 25 Canadian companies are reaching the size considered the threshold to list on a major stock exchange. But, many of the CEOs currently conquering the software world aren’t interested, eschewing a public listing in favour of private financing, and their decisions are depriving Canadian investors. Story (Sean Silcoff)

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Lightspeed to spend $100-million to expand point-of-sales in Europe with largest acquisition yet: Lightspeed POS Inc. announced Tuesday that it will spend more than US$100-million in cash and stock to buy a German point-of-sale company to expand within Europe. Story (Josh O’Kane)

Cott looks to sell coffee and tea division: In an extreme example of a January purge, beverage maker Cott Corp. announced plans on Wednesday to permanently give up coffee and tea, and become a pure-play provider of bottled water. Story (Andrew Willis)

Takeaway seals victory in $10.6-billion takeover of European food-delivery rival Just Eat: Online food ordering company Takeaway.com has won the battle for Britain’s Just Eat with a 6.2-billion pound ($10.6-billion) share offer that will create one of the world’s largest meal delivery companies. Story (Reuters)

IN CASE YOU MISSED IT

Telus pension plan faces losses after Strategic’s Alberta properties placed in receivership: Telus Corp. and its employee retirement plans are facing a financial hit from the insolvency of Strategic Group’s Alberta real estate holdings because the telecom company is a major lender and its pension arm co-owns nearly half the properties. Story (Jeffrey Jones)

The Streetwise newsletter is Monday to Friday. If you’re reading this on the web, or if someone forwarded this e-mail to you, you can sign up for Streetwise and all Globe newsletters on our signup page.

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