It pays to be an optimist in this industry. Indeed, it couldn’t be any other way. Money managers are, by necessity, natural believers in the markets’ ability to provide returns—so long as prudence and foresight are wielded—regardless of the forces acting on the economic landscape. So, as the rest of the country steels itself for […]
It’s not easy being a Canadian plan sponsor these days. Volatile equity markets, increasing longevity, and the questionable notion of risk management have conspired to visit misery upon those employers who deem it important to provide their workers with a retirement plan. In an effort to provide guidance to plan sponsors, Benefits Canada held its […]
Other Brieflies this week:MON | TUE | WED | THU | FRI | According to a survey conducted by Aon Consulting, employees and employers have a precarious ‘wait-and-see’ attitude when it comes to retirement programs. Employees are waiting for an economic recovery before moving forward with retirement, and employers are not addressing retirement program changes […]
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 […]