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Byline: DAVID MILSTEAD; Staff Toronto-Dominion Bank didn't fire chief executive officer Bharat Masrani after U.S. government regulators and law enforcement concluded an investigation that saw the bank plead guilty to [...]

Byline: DAVID MILSTEAD; Staff Aimia Inc. and its largest shareholder have called a truce in a long-running battle over the future of the investment company. Aimia, the former owner of [...]

Aimia, the former owner of Aeroplan, says Mithaq will get two board seats and the two parties will halt litigation in their battle over the company’s future, Aimia Inc. https://www.theglobeandmail.com/investing/markets/stocks/AIM-T/ and its largest shareholder have called a truce in a long-running battle over the future of the investment company. Aimia, the former owner of the Aeroplan loyalty [...]

The average approval percentage for advisory votes on executive compensation – also known as say on pay – was 92.14 per cent, the highest level since 2020, study says, Shareholders gave the multimillion-dollar pay packages at Canadian companies their highest approval rates in years in 2024, but a handful of companies still flunked the test. The average approval percentage [...]

Byline: ALEXANDRA POSADZKI, DAVID MILSTEAD A Toronto-based biopharmaceutical company is taking legal action against CIBC World Markets Inc. and RBC Dominion Securities Inc., alleging that the broker-dealer units of two [...]

Every one of Brookfield’s major public companies has one or more factors that point to it being a U.S., not Canadian, concern, The Brookfield family of companies are Canadian colossi, cream of the country’s corporate crop. But they also have a distinctly New York flavour to them, what with many of their [...]

Broker-dealer units of RBC, TD failed to stop price manipulation, biopharmaceutical firm says, A Toronto-based biopharmaceutical company is taking legal action against CIBC World Markets Inc. and RBC Dominion Securities Inc., alleging that the broker-dealer units of two of Canada’s biggest banks allowed [...]

Byline: DAVID MILSTEAD; Staff The Brookfield family of companies are Canadian colossi, cream of the country's corporate crop. But they also have a distinctly New York flavour to them, what [...]

Byline: DAVID MILSTEAD; Staff Toronto-Dominion Bank spends millions of dollars each year to pay august, accomplished business leaders to serve on its board of directors, the ultimate stewards of the [...]

TD’s audit committee was largely populated by directors who hadn’t worked for long periods in the banking industry. For most, their biographies suggest little experience with money-laundering controls, Toronto-Dominion Bank spends millions of dollars each year to pay august, accomplished business leaders to serve on its board of directors, the ultimate stewards of the corporation. They seem to [...]

Byline: DAVID MILSTEAD; Staff Slate Office REIT's managers have resigned from their executive and board roles, representing a victory for activist investor and company trustee George Armoyan. The trust said [...]

After another spat with a debt-ratings agency, it seems there’s no room for those who don’t believe in the big-time plans of CEO Kurt MacAlpine and chairman Bill Holland, I’m beginning to think the leaders of CI Financial Inc. https://www.theglobeandmail.com/investing/markets/stocks/CIX-T/ don’t react well to bad news. Not from S&P Global Ratings, which downgraded CI Financial’s debt to junk status [...]

Byline: DAVID MILSTEAD; Staff CI Financial Inc. says Morningstar DBRS has refused its request to withdraw its credit ratings, marking the second tussle between the debt-heavy company and an agency [...]

All of Canada’s Big Six banks have stock in Elbit Systems, For the best listening experience and to never miss an episode, subscribe to The Decibel on your favourite podcast app or platform: Apple Podcasts, Spotify, Amazon Music, iHeartRadio, Pocket Casts [...]

Byline: DAVID MILSTEAD; Staff Shopify Inc. said late Friday its founder and chief executive officer Tobi Lütke plans to sell more than 2.5 million shares in the company, worth $233-million [...]

Byline: DAVID MILSTEAD; Staff S&P Dow Jones Indices announced late Friday that it is deleting once-high-flying parka maker Canada Goose Holdings Ltd. from the S&P/ TSX Composite Index, the broadest [...]

His stock holdings are worth more than $7.3-billion at Friday’s Toronto Stock Exchange closing price of $90.89, a stake that makes him one of Canada’s richest individuals, Shopify Inc. said late Friday its founder and chief executive officer Tobi Lütke plans to sell more than 2.5 million shares in the company, worth $233-million at current prices, over [...]

S&P Dow Jones Indices reshuffling Canada’s main stock index, S&P Dow Jones Indices announced late Friday that it is deleting once-highflying parka maker Canada Goose Holdings Ltd. (https://www.theglobeandmail.com/investing/markets/stocks/GOOS-T/) from the S&P/TSX Composite Index, the broadest measure of the Canadian [...]

Byline: DAVID MILSTEAD; Staff Moody's Ratings downgraded BCE Inc.'s credit rating Friday to the last level above junk-bond status, citing the company's high debt levels and limited ability to improve [...]

Byline: DAVID MILSTEAD; Staff When banks set aside money for possible bad loans, it's like preparing for a rainy day. Unlike its peers, Bank of Montreal seems to have a [...]

Byline: DAVID MILSTEAD; Staff As Canada goes, so goes Canadian Imperial Bank of Commerce, which gets more of its revenue domestically than any other of the country's five biggest banks. [...]

Third-quarter results strongly beat analysts’ estimates, As Canada goes, so goes Canadian Imperial Bank of Commerce https://www.theglobeandmail.com/investing/markets/stocks/CM-T/, which gets more of its revenue domestically than any other of the country’s five biggest banks. So when the [...]

Byline: CLARE O'HARA, DAVID MILSTEAD After CI Financial Corp. for the first time surpassed $500-billion in assets under management in its monthly reporting, investors seem to be setting aside worries [...]

Part of that growth is being fuelled through a burst of acquisitions made by the company’s Miami-based U.S. subsidiary, After CI Financial Corp. https://www.theglobeandmail.com/investing/markets/stocks/CIX-T/ for the first time surpassed $500-billion in assets under management in its monthly reporting, investors seem to be setting aside worries from earlier this year [...]

Byline: DAVID MILSTEAD; Staff U.S. regulators have won a victory in British Columbia courts in their quest to collect damages from Frederick Sharp, a Vancouver lawyer accused of masterminding a [...]

Byline: DAVID MILSTEAD; Staff More than two years after Russia's fullscale invasion of Ukraine, some Canadian companies still have operations in Russia despite pledges to exit the country or statements [...]

Byline: DAVID MILSTEAD; Staff Executives owning a lot of stock in the company? Good! Company lending money to said executives to buy that stock? Not good. Company making the loan, [...]

Byline: CLARE O'HARA, DAVID MILSTEAD Wellington-Altus Private Wealth founder and chair Charlie Spiring maintained an ownership stake in the U.S. affiliate of Emerge Canada Inc. while his firm promoted Emerge's [...]

Byline: DAVID MILSTEAD; Staff Securities enforcement action in Canada remains well below prepandemic levels, with regulators launching fewer of them in the 12 months ended in March than in any [...]

Cogeco Communications Inc. chief executive officer Frédéric Perron has a problem not entirely of his own making. The Quebec cable company's current mid-$50s share price is low, embarrassingly so. It's [...]

Byline: DAVID MILSTEAD; Staff The sale of Stelco Holdings Inc. to U.S. steelmaker ClevelandCliffs represents a windfall for CEO Alan Kestenbaum, who will receive nearly $647-million for his stake in [...]

Byline: DAVID MILSTEAD; Staff The scion of a prominent Iranian-Canadian family has resigned as chief executive officer at a Toronto Stock Exchange-listed fund after it said it's investigating at least [...]

Companies have been shifting to other forms of compensation, particularly stock awards that have performance requirements attached to them, Stock options – for years, the primary way companies tied executive pay to performance – are increasingly out of favour at Canada’s biggest corporations. Do not, however, write their obituary: [...]

Byline: DAVID MILSTEAD; Staff Elon Musk's newly restored Tesla pay package is off-the-charts big, a crazy number that won't be replicated at any other company. Nor should it be. Lost [...]

Byline: DAVID MILSTEAD; Staff Anson Advisors Inc. will pay US$2.25-million after U.S. securities regulators sanctioned and fined the Toronto money manager for failing to tell its investors how it was [...]

Byline: CLARE O'HARA, DAVID MILSTEAD Canada's largest independent asset manager is nearing $500-billion in assets under management as it continues to snap up U.S. wealth management companies despite continuing investor [...]

Byline: DAVID MILSTEAD; Staff More than two decades ago, the folks at the Ontario Securities Commission had an idea for a new form of disclosure: Any time a company had [...]

Byline: DAVID MILSTEAD; Staff Think back to 2018, when the steel-cage match of the summer was Doug Ford versus Hydro One. The newly minted Premier had campaigned against high electricity [...]

A Globe and Mail review of executive pay at 15 energy and precious-metals mining companies in the S&P/TSX 60 found that seven have changed CEOs since the start of 2022, Turnover at the top can be an expensive proposition for a company – especially if the former chief executive officer sticks around. A Globe and Mail review of executive pay [...]

Byline: DAVID MILSTEAD; Staff Ernst & Young LLP Canada has named Alycia Calvert as its chair and chief executive officer - the first woman to hold the top job in [...]

Byline: CLARE O'HARA, DAVID MILSTEAD CI Financial Corp. chief executive officer Kurt MacAlpine says he is comfortable with the company's current debt levels, although the market reaction to its recent [...]

Canadian Investment Regulatory Organization has launched a disciplinary hearing against Echelon Wealth Partners Inc. and one of its employees over gatekeeping failures with U.S. over-the-counter trading, Toronto-based brokerage Echelon Wealth Partners Inc. used to do very little trading in U.S. over-the-counter stocks. Then it hired Stephen Burns. In the four years after Mr. Burns joined the [...]

Byline: DAVID MILSTEAD; Staff It may surprise you to learn the best-paid chief executive officer in Canada's financial-services industry is not the leader of one of our behemoth banks, but [...]

Special merger-related awards push compensation above $10-million for multiple executives, Canadian Pacific Kansas City Ltd. https://www.theglobeandmail.com/investing/markets/stocks/CP-T/ made multimillion-dollar stock awards to top executives in 2023 after the railway completed a deal to expand its routes to Mexico. CPKC valued the [...]

CEO Mirko Bibic received an annual bonus of $2.96-million in 2023, down slightly from $3.09-million in the previous year, BCE Inc. https://www.theglobeandmail.com/investing/markets/stocks/BCE-T/ paid out millions of dollars in performance bonuses to its top executives after falling short of its 2023 financial targets, slowing its dividend growth and announcing thousands [...]

Byline: DAVID MILSTEAD, EMMA GRANEY Suncor Energy Inc. paid former Imperial Oil chief executive officer Rich Kruger $36.8-million in 2023, his first year at the company. Mr. Kruger, 63, joined [...]

Under Mr. Kruger’s watch, Suncor has focused on its core operations, safety and reliability, while also cutting jobs and charitable donations, Suncor Energy Inc. https://www.theglobeandmail.com/investing/markets/stocks/SU-T/ paid former Imperial Oil chief executive officer Rich Kruger $36.8-million in 2023, his first year at the company. Mr. Kruger, 63, joined Suncor in April of [...]