A CIBC sign is shown in the financial district in Toronto on Aug. 22, 2017.Nathan Denette
Here are the top reads, Lost boys: Rude, crude and filthy rich, bad-boy traders once ruled Bay Street. Now they're being replaced by computers that think–and soon we won't need them at all ROB Magazine (John Daly and Christina Pellegrini, for subscribers)
Street moves: After nearly two decades at CIBC World Markets, which included stints in multiple senior roles, a senior executive is departing to take on a different type of endeavour. Story (Tim Kiladze, for subscribers)
Bank earnings season is here: Canadian Imperial Bank of Commerce raised its dividend and easily surpassed analysts' expectations despite a dip in profit, bolstering an already bullish outlook for first-quarter results from Canada's big banks. Story (James Bradshaw)
Traders: CIBC's capital markets arm got a boost from its equity trading business, even as the division's overall profits dipped compared to an exceptionally strong first quarter of 2017. Story (Alexandra Posadzki, for subscribers)
Opinion: How Canada's capital markets hinder the cannabis industry Story
FINANCIAL SERVICES WRAP
Earning: Barclays PLC showed its confidence in future earnings on Thursday by restoring its full dividend, despite lackluster investment banking income, restructuring costs and U.S. tax reforms hitting the bank's 2017 bottom line. Story
Remittance industry: Increased competition from both traditional remittance companies and web-based startups has helped lower the cost of sending money abroad. Story
BlackRock plans to speak with gunmakers to understand 'response' to Florida shooting Story
DEAL WRAP
U.S. venture capital: Indigo Fair, a platform that connects independent retailers with makers and manufacturers, has raised US$12-million in a series A round of funding led by Khosla Ventures and Forerunner Ventures, with participation from Sequoia. Founded out of San Francisco in 2017, Indigo Fair targets smaller local retailers. VentureBeat
U.S. venture capital: It's been quite a year for beauty brand Glossier. In 2017, the New York City-based startup added two product categories and expanded to new markets, opening offices in London and Montreal. It also acquired Canadian tech agency Dynamo in December. Glossier has also announced that it has raised US$52-million to develop new digital products for its customer base. VentureBeat
PE: Goldman Sachs Group's asset management unit has raised US$2.5-billion for a family of funds that will buy minority stakes in private equity firms. Institutional Investor
WHAT WE'RE READING ELSEWHERE
Canadian VC scene: Brightspark Ventures is generating market buzz with a sophisticated and fast-growing funding model that taps into the wealth of a once overlooked capital source. The firm's strategy, adopted as an alternative to raising a third institutional fund, is dubbed "democratic" because it relies on a large population of small investors. Most of them are new to the venture market, Managing Partner Sophie Forest told PE Hub Canada.
Pension funds: Teachers across Florida and at a high school where 17 people were shot dead on Feb. 14 pay into a retirement fund that invests in gun companies, it was revealed earlier this week. Bloomberg
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