Here are the top reads on deals and financial services over the last 24 hours,
New study aims to quantify climate change risks for Canada’s banks, insurers: Canada’s central bank and financial regulator are teaming up with a group of banks and insurance companies to gauge how risks related to climate change and a transition toward a low carbon economy could have an effect on the financial system. (Mark Rendell)
Endeavour Mining buying Canada’s Teranga Gold in all-stock deal worth $2.4-billion: Britain’s Endeavour Mining Corp. is buying Teranga Gold Corp. in an all-stock transaction worth about $2.44-billion, the latest in a whirlwind of deal making in the global gold sector over the past two years aimed at winning back generalist investors. (Niall McGee)
Why Canada’s banks are sitting on the sidelines while U.S. bank deals continue to unfold: Prior to the pandemic, hedge funds looking for takeover plays in the financial sector had a novel tactic: Track the flights of corporate jets owned by Canada’s big banks. ... Corporate travel and bank takeovers came to a halt last March, as everyone shifted their focus to surviving a global health crisis. Now it may be time to start tracking flights again. (Andrew Willis)
CI Financial CFO announces departure plans amid company U.S. expansion: CI Financial Corp.'s chief financial officer Douglas Jamieson is stepping down from his role at a time when the company is rapidly expanding into the U.S. market. He has been with CI for more than 25 years, and has spent the past 15 years as CFO. (Clare O’Hara)
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