Competition heats up for brokerage staff

Article Abstract:

The bank mega-merger deals sweeping the industry in Canada led to the fierce competition among Independent dealers in hiring new staff members. The merger plans are creating uncertainty among staff members while management has been raising some salaries to keep their top talent from leaving. Industry insiders reveal that the merger deals have increased the price of talent beyond reasonable economic levels which presents a big problem for employers. Although talks regarding the hiring competition, there has been little movement so far.

Comment:

Canada: Bank mega-merger deals sweeping the industry led to the fierce competition among Independent dealers in hiring new staff

Labor force information, Article

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TD investors call failed deal a blessing

Article Abstract:

Shareholders consider Toronto-Dominion Bank's (TD) failed merger with Canadian Imperial Bank of Commerce (CIBC) as a blessing to its shareholders. The merger would have given TD shareholders 1.318 shares of the new bank for each share held, while CIBC shareholders will receive a new share for each TD share held. TD later posted record bank shares and exceeded market analysts' expectations, while CIBC lagged behind as John Hunkin replaced the resigned chmn Al Flood.

Strategy & planning, Securities issued, listed, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank

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Royal Bank chief sees lean, mean company

Article Abstract:

Royal Bank of Canada chairman John Cleghorn sees leaner and meaner operations following the bank's failure to consolidate with Bank of Montreal. Canada's biggest financial company remains focused on acquiring a foreign wealth management firm, which is seen as a cost-effective program that will generate $400 million in annual savings. The bank's restructuring efforts also cover integration and outsourcing of several operations.

Organizational history, Royal Bank of Canada

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