Bank of Montreal hires new CFO from U.S. rival: Bank of Montreal has poached its next chief financial officer from the ranks of a U.S. competitor, hiring Tayfun Tuzun as current finance chief Tom Flynn prepares to step aside. He is currently chief financial officer at Ohio-based Fifth Third Bancorp, one of the largest lenders in the Midwestern United States and a direct competitor to BMO’s U.S. arm, BMO Harris Bank. Story (James Bradshaw)
Artis REIT battle generates heat: Artis Real Estate Investment Trust has been forced to postpone a plan aimed at boosting the value of the overall business by spinning off Western Canadian retail properties, blaming activist investor Sandpiper Group. Column (Jeffrey Jones)
Horizons ETFs' rapid pivot spurred major growth in 2020: Five months before the 2019 federal budget was announced, Horizons ETFs Management (Canada) Inc. chief executive Steve Hawkins began to hear whispers that the Canada Revenue Agency was going to crack down on tax deferral strategies that were key to more than half the assets in the company’s business. Within two months of the budget announcement, he had engineered a plan to retool and relaunch the investment funds into a new mutual fund corporate-class structure. Story (Clare O’Hara)
Vans owner VF Corp to acquire Supreme brand: VF Corp, whose brands include Vans, The North Face and Timberland, says it will pay US$2.1-billion to buy streetwear apparel company Supreme. Story (Reuters)
TD won’t finance Arctic oil and gas projects: Toronto-Dominion Bank says it will not provide project-specific financial services for oil and gas-related activities in the Arctic Circle as part of its plan to get to net-zero emissions by 2050. Story (Reuters)
Cenovus selling Marten Hills oil assets to Headwater Exploration: Oil and gas producer Cenovus Energy said on Monday it will sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc for $100-million. Story (Reuters)
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