Here are the top reads on deals and financial services over the last 24 hours,
Montreal payment processing company Nuvei unveils plans to go public: Payment processing company Nuvei Corp. has filed to go public on the Toronto Stock Exchange, capitalizing on a surge in investor interest in digital technology stocks as the pandemic has forced more commerce online. (Mark Rendell)
Canadian insurers suffer hit from legacy of annuity-style contracts: A product that troubled Canadian life insurers during the last financial crisis a decade ago has come back to bite some industry players again. (Clare O’Hara and David Milstead)
Rona Ambrose joining TD Securities full-time as deputy chair, sources say: Former interim Conservative Party leader Rona Ambrose is joining Toronto-Dominion Bank full-time, expanding an advisory role she has had with the bank for the last two years. (James Bradshaw)
CIBC’s biggest challenge: closing the valuation gap: Canadian Imperial Bank of Commerce has been saddled with a curiously low stock valuation for years, frustrating investors who feel the bank should trade in line with its Big Six peers. Good news: CIBC’s strong performance during the coronavirus pandemic may at last rescue the stock from the bargain bin. (David Berman)
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