Here are the top reads on deals and financial services over the last 24 hours,
Canada’s banking regulator promotes Ben Gully to key post: Canada’s banking regulator has named Ben Gully as its next assistant superintendent, regulation sector, promoting from within to fill a key role. Story (James Bradshaw, for subscribers)
Activist investor sues TransAlta in effort to stop $750-million Brookfield deal: A U.S. activist investor is suing TransAlta Corp. in bid to stop the power producer’s $750-million partnership deal with Brookfield Renewable Partners LP, claiming executives and directors are putting their own interests above those of shareholders. Story (Jeffrey Jones, for subscribers)
The good advisers out there did this for their clients in early 2019: Last year was a test for investment advisers, and it’s only partly because the markets were generally garbage. The real challenge for advisers: Did they reach out to clients to discuss what the sharp decline in stocks meant to their financial plan? In the J.D. Power 2019 Canada Full Service Investor Satisfaction Study, overall levels of client satisfaction with their advisers declined slightly. Story (Rob Carrick, for subscribers)
MORE FINANCIAL SERVICES NEWS
All Wells Fargo directors elected at rowdy shareholder meeting: Wells Fargo & Co shareholders voted to elect all of the company-nominated directors during a rowdy meeting on Tuesday in which more than a dozen attendees were kicked out for heckling executives and board members. Story (Reuters, for subscribers)
MORE DEALS NEWS
Lyft’s IPO banks give troubled stock a flurry of ‘buy’ ratings: Lyft Inc. received some badly needed support on Tuesday, as analysts at banks that had worked on its initial public offering urged clients to buy the ride-hailing company’s beleaguered shares. Story (Reuters, for subscribers)
IN CASE YOU MISSED IT
Chinese buyers avoid Canadian hotels after investment rule changes: Beijing’s crackdown on foreign investments is deterring Chinese companies from making large purchases of Canadian hotels. Once a promising source of capital in the sector, Chinese entities are no longer major buyers. Foreign purchases accounted for about 6 per cent of the total acquisitions in the Canadian hotel market last year, according to a report by the commercial realtor Colliers International Group Inc. Story (Rachelle Younglai, for subscribers)
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