Fiscal restraint due to the current financial crisis is forcing companies to lower planned wage increases, according to the Conference Board of Canada. “Compensation planners are going to be very cautious next year,” said Prem Benimadhu, the board’s vice-president, governance and human resources management, at the 2008 Compensation Outlook Conference in Toronto on Monday. “They […]
Canadian pension plans are well positioned for the current market volatility but are unsure how to navigate the low-return environment, according to new research from Pyramis Global Advisors. “Canadian pension plan sponsors are taking a thoughtful pause on a number of key strategic issues,” said Peter Chiappinelli, senior vice-president of strategy and asset allocation for […]
Fidelity Investments’ Canadian institutional unit is getting out of the defined contribution (DC) recordkeeping business and transitioning its clients to Great-West Life Assurance Company, subject to regulatory approval. The move only affects Fidelity’s Canadian DC recordkeeping unit and will have no impact on its Canadian mutual fund, corporate pension businesses or its DC recordkeeping business […]
The Nova Scotia Pension Review Panel has issued an interim position paper outlining its views on key issues and providing clues about the recommendations it will make in its final report, due in December. The panel’s mandate encompasses both defined benefit and defined contribution pension plans. The panel (comprising Bill Black, former president and chief […]
In the wake of the financial crisis, the importance of due diligence is becoming more apparent by the day. For money managers in search of portable alpha products, hedge funds are attractive for the protection they offer, but risky due to the lack of transparency. However, it is possible to conduct due diligence when investing […]
The current financial crisis is not unprecedented and will hopefully result in important lessons being learned, according to a panel of experts. “This has happened before,” said professor of business economics Peter Dungan at Toronto’s Rotman School of Management on Wednesday. “We saw the dot-com crisis, Asian crisis, and savings and loan crisis previously, and […]
Sun Life Financial has bolstered its status in the area of health promotion services with the announced purchase of a 36% stake in Buffett & Company Worksite Wellness for an undisclosed amount. A minority interest in the Whitby, Ont.-based company will allow Sun Life’s HealthyRETURNS program to provide plan sponsors with more health and wellness […]
Anthony May, corporate account executive for Manulife Financial and member of the sanofi-aventis Healthcare Survey Advisory Board, died on Sept. 29 after a battle with pulmonary fibrosis. He was 56. With more than 30 years of industry experience, Anthony served as chair of the Canadian Pensions & Benefits Institute’s (CPBI) Pacific Regional Council, the Canadian […]
The United States Senate voted in favour of a revised US$700 billion economic bailout package on Wednesday evening, sending it back to the House of Representatives. However, those expecting a panacea to the current financial crises may be disappointed. “The bill is not a cure-all, and nobody pretended it would be,” says Douglas Porter, deputy […]
The markets are in a downward spiral. Wall Street stalwarts are toppling with alarming succession. Your office reverberates with panicked calls from clients, demanding to know what you’re doing to protect their investments. Now is not a good time to be a money manager—so what do you say when the phone rings? “Money managers need […]