Other Brieflies this week:| MON | TUE | WED | THU | FRI | Canadian regulators are seeking a record settlement amount of $400 million from a number of brokerages for their involvement with the asset-back commercial paper (ABCP) debacle, reports the National Post. Sources say the reason for the unprecedented sum is that the […]
A new association representing the interest of the Canadian securities lending industry — the Canadian Securities Lending Association (CASLA) — was officially launched on Monday. The group is a combined creation of CIBC Mellon, Northern Trust, RBC Dexia and State Street Corporation — the four firms that dominate securities lending in Canada. The co-founding companies […]
In Safe Hands February 28, 2009 | Brooke Smith In the current economic climate, custodians are concerned with increasing communication and protecting client assets. In Marathon Man, as Dustin Hoffman squirms and sweats while strapped to a chair in an interrogation room, Laurence Olivier, dental instruments in hand, asks repeatedly, “Is it safe?” That’s the […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | General Motors of Canada Ltd. wants financial help from both the federal and Ontario governments to help pay for pension and retiree healthcare costs—which the company says, are crippling its competitiveness. David Paterson, GM Canada’s vice-president of corporate and environmental affairs, […]
The large spending measures announced in Tuesday’s budget by the federal government—an estimated $64 billion over the next two years—could give a much-needed boost to domestic investment opportunities. The budget is generally getting the thumbs up from investment analysts and economists as a means to provide short-term stimulus until the global economy recovers. For investing, […]
The collapse of Lehman Brothers heralded an unprecedented focus on securities lending after the practice of short selling was blamed for accelerating the bank’s demise. Four months later, securities lending is still a hot topic as many organizations question whether or not the income generated by lending is worth the risk. To address some of […]
Last month, some of the country’s best and brightest pension and investment professionals turned out to celebrate their peers at The Benefits Canada Awards. The event was held in downtown Toronto at The Design Exchange, the former home of the Toronto Stock Exchange. In the plan sponsor category, Karen Welch, the vice-president of global compensation […]
The collapse of Lehman Brothers didn’t just take down the whole investment banking model of Wall Street; it also put the squeeze on a significant number of other investments, including principal-protected notes and hedge funds. Lehman’s PPNs, while notionally powered by various stock indexes, were actually senior unsecured obligations for a company now in bankruptcy. […]
Other World Views this week:| MON | TUE | WED | THU | FRI | A joint Aon Consulting/Society of Certified Employee Benefit Specialists survey finds that 45% of American employers now have consumer-driven health plans (CDHPs), up from 37% last year. Of those companies surveyed with CDHPs, the goals for having them range from […]
Volatile markets have taken their toll on the Top 40 Money Managers of 2008. But they recognize that this crisis, too, will pass. This Top 40 Money Managers Report is looking a little off-colour, as ailing markets and the resulting roller-coaster ride of volatility have spread to the money management industry as well. As the […]