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A photograph of the CIBC sign in Toronto's financial district in downtown Toronto on Thursday, Feb. 26, 2009. (NATHAN DENETTE/The Canadian Press)
A photograph of the CIBC sign in Toronto's financial district in downtown Toronto on Thursday, Feb. 26, 2009. (NATHAN DENETTE/The Canadian Press)

CIBC maintains lead in structured product underwriting Add to ...

Canadian investors demanded yield in 2011, which kept the market for retail structured product offerings busy.

Even in rough markets, the number of offerings of structured product, which includes such as hedge funds using an exchange traded unit structure, actually increased to 97 in 2011 from 92 in 2010.

For banks doing the underwriting, retail structured product is a good source of fees, to the chagrin of money management firms who choose to use the structure.

CIBC World Markets maintained its lead as the most sought after underwriter of retail structured product, working on almost half the deals that got done and helping place $2.3-billion of product. RBC Dominion Securities stayed in the No. 2 spot.



CIBC World Markets

Value of 2011 deals: $2.33-billion

Number of 2011 deals: 48

Value of 2010 deals: $2.89-billion

Number of 2010 deals: 45



RBC Dominion Securities

Value of 2011 deals: $2.08-billion

Number of 2011 deals: 39

Value of 2010 deals: $1.83-billion

Number of 2010 deals: 39



BMO Nesbitt Burns

Value of 2011 deals: $691-million

Number of 2011 deals: 15

Value of 2010 deals: $596-million

Number of 2010 deals: 19



National Bank Financial

Value of 2011 deals: $460-million

Number of 2011 deals: 9

Value of 2010 deals: $196-million

Number of 2010 deals: 10



TD Securities

Value of 2011 deals: $430-million

Number of 2011 deals: 9

Value of 2010 deals: $216-million

Number of 2010 deals: 6

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