Responsible investment is an important issue for many pension plan sponsors today, but when it comes to public policy support for these initiatives, Canada has a long way to go. This message was reinforced at the 100 Mile Dinner on Sept. 25 in Toronto in support of the Fund for Action on Investment Responsibility (FAIR), […]
With American International Group now in tatters, insurers around the world are poised to bid on parts of the troubled company, including Toronto-based Manulife Financial. While Dominic D’Alessandro, the company’s CEO, isn’t talking, it’s reported that he met with financial advisors last week to discuss how to take advantage of AIG’s likely dismantling. If Manulife […]
BCE has reached a final agreement with the buyout consortium led by the Ontario Teachers’ Pension Plan in a $52 billion deal, the largest leveraged buyout in history. The agreement includes “fully negotiated and executed credit documents for the purpose of funding the transaction,” at a purchase price of $42.75 per share Teachers’ director of […]
How the rapid expansion of the environmental technology investment set may benefit forwardthinking investors. The world is becoming “greener” every day, as businesses, consumers and governments look at their impact on the environment and modify their behaviours. A breakthrough in biofuels, an increasing number of hybrid cars on the road…green is everywhere, but is it […]
The consortium led by the Ontario Teachers’ Pension Plan now expects to complete the privatization of BCE sometime in the third quarter. It had expected to finish the deal before the end of June, but there was a delay because of legal challenges by bondholders who claimed the deal was unfair to them. On Friday, […]
The Supreme Court of Canada has ruled in favour of the $52-billion privatization of BCE, giving the Ontario Teachers’ Pension Plan-led consortium the green light to proceed with the largest-ever leveraged buyout in history. The Court’s decision was unanimous and its reasons for the decision will be released at a later date. “We are pleased […]
Canada’s financial services industry should look outward to global markets for growth and profitability—especially with the Canadian dollar near record highs, according to Joseph Iannicelli, president and chief executive officer of the Standard Life Assurance Company of Canada. “We have the talent, the technology, the capital and the confidence to succeed globally”, he said . […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Macquarie Financial has chosen CIBC Mellon Global Securities Services to provide asset servicing for its corporate assets. “As we grow in Canada we need a dependable asset servicing supplier,” says Grant MacKenzie, chief executive officer of Macquarie Financial. “CIBC Mellon offers […]
Other Brieflies this week:| TUE | WED | THU | FRI | Although many organizations are moving away from defined benefit (DB) pension plans or closing them to new employees, according to a study by Watson Wyatt, the majority of Fortune 100 companies still offer them. The analysis of retirement plans among Fortune 100 companies […]
Investors in Canada’s third-party asset-backed commercial paper (ABCP) market will have to wait until mid-May for a ruling on the fairness of the restructuring plan, according to the judge presiding over the case. Ontario Superior Court Justice Colin Campbell was due to hold a hearing on the restructuring plan on Friday, but said he would […]