Freedom fighters: Canadian finance
Article Abstract:
The six largest banks in Canada, although not popular with the public, continue in their attempts to grow. Royal Bank of Canada has offered C$2.4 bil for life insurance company London Life of Canada, while Bank of Nova Scotia is offering C$1.3 bil for mortgage lender National Trust. The market share of banks in Canada's financial services sector has been severely eroded by the entry of foreign firms, such as the US's GE Capital and Fidelity Investments. Dutch financial services company ING is even threatening the Canadian banks' retail market share by offering a savings account administered via telephone that pays higher interest rates.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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Herr Dobson's fishing trip
Article Abstract:
Deutsche Morgan Grenfell (DMG) has been tempting top employees from other merchant banks with incredibly high salary offers. DMG, which was formed after Deutsche Bank acquired Morgan Grenfell, has angered its competitors with this tactic. DMG has hired over 200 bankers and hopes to lure 200 more.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1996
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