FAIR Canada names former securities regulator as its new executive director: The primary advocacy group for Canadian investors has hired a former regulator as its new executive director and hopes it can find a long-term source of money to ensure its survival. The Canadian Foundation for the Advancement of Investor Rights, known as FAIR Canada, says Jean-Paul Bureaud will assume its top job. (David Milstead)
Echelon bets on extended rally in mining stocks, hires two experts: Toronto-based Echelon, an independent investment bank that focuses on raising money for small to mid-sized companies, hired Robert Lee as a managing director and head of institutional equities last week. In mid-July, the firm also hired deal maker Jason Yeung. The two mining experts join the firm at a time when gold mining stocks are soaring on the back of surging bullion prices – in Canadian dollar terms, gold is up 26 per cent this year. (Andrew Willis)
Lawsuits push ahead over trailing fees being paid to discount brokerages: Two groups of investors are pushing ahead in separate class action lawsuits against Canada’s largest discount brokerages, alleging the companies incorrectly charged billions of dollars in fees for advice they did not provide. (Clare O’Hara)
Blackstone selling around 40% of its stake in Cheniere limited partnership to Brookfield Infrastructure: Blackstone Group Inc. said on Monday it would sell about 40 per cent of its stake in liquefied natural gas producer Cheniere Energy Inc.‘s limited partnership to Brookfield Infrastructure Partners LP and its own affiliated company. (Reuters)
Takeda to sell Japan consumer health unit valued at $2.3-billion to Blackstone: Takeda Pharmaceutical Co said on Monday it would sell its Japanese consumer healthcare business to U.S. buyout fund Blackstone Group, as it aims to focus on developing drugs for unmet medical needs and rare diseases. Japan’s largest pharmaceuticals company has been selling its over-the-counter (OTC) assets worldwide as it seeks to refocus its business and reduce debt following a $59 billion acquisition of Shire Plc last year. (Reuters)
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