The week in the breakout | To advise

• RBC acquires Brewin Dolphin

The Royal Bank of Canada has acquired award-winning wealth management firm Brewin Dolphin Holdings, which will now trade as RBC Brewin Dolphin. However, it will continue to be led by CEO Robin Beer. This agreement thus enables the creation of a leading wealth manager in the UK, Channel Islands and Ireland. All details here.

• Change at the top of Scotia

Scotiabank President and Chief Executive Officer Brian J. Porter will retire on January 31, 2023. The Board has appointed Scott Thomson as his successor effective February 1, 2023. Thomson, who has served on the board of Scotiabank since 2016, is currently Chief Executive Officer of Finning International. He will serve as CEO effective December 1, 2022, overseeing the bank’s businesses: Canadian Banking, Global Banking and Markets, Global Wealth Management and International Operations. Brian J Porter will then serve as Scott Thomson’s strategic advisor until April 30, 2023 to facilitate the transition. More information here.

• BMO makes changes to its fund structure

For certain series of BMO Global Equity Fund, BMO Global Infrastructure Fund, BMO Global Energy Class Fund and BMO Global Equity Class Fund, management and administration fees will be accrued from 1 January 2020ah November 2022. There will also be changes in portfolio managers leading to changes in investment and risk management strategies. The risk rating of the BMO Global Infrastructure Fund was also changed from “medium” to “low to medium”. To know all the changes, it’s here.

• Fidelity launches new fund

The Fidelity Global Opportunities Fund invests primarily in the equity securities of small capitalization companies located anywhere in the world with the aim of providing long-term capital growth. Co-managers Connor Gordon and Chris Maludzinski will seek to create value by uncovering undervalued quality companies. More details here.

• Appointment at nesto

Ricardo Pascoe joins nesto as Executive Head of Capital Markets. His role will include driving all capital markets initiatives alongside Blake Dumelie, Vice President Capital Markets. Most recently, Ricardo Pascoe was Chief Transformation Officer at National Bank, where he was responsible for enhancing the bank’s ability to integrate new technologies, including working with fintech partners. To know everything it is here.

Jillian Snider

Extreme problem solver. Professional web practitioner. Devoted pop culture enthusiast. Evil tv fan.

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