Infographic: Did You Know? (IIAC Blog)
The Canadian investment industry plays a key role in Canada’s financial services sector. It enables businesses and governments to raise debt and equity capital—which stimulates economic growth and job creation—and helps investors and savers work towards their financial objectives.
Did you know in 2016, Canada’s investment industry?
– Directly employed approximately 40,130 Canadians from coast to coast to coast.
– Generated $22.4 billion in direct economic activity.
– Helped listed Canadian businesses raise $48.8 billion in equity capital in secondary offerings in public and private markets.
– Helped eight companies go public, raising $466 million in initial public offerings.
– Enabled Canadian businesses to raise $96.0 billion by issuing bonds to finance operations.
– Enabled the federal, provincial and municipal governments to raise $197.9 billion through debt issuance.
Check out our infographic to learn more.
Charyl Galpin of BMO Nesbitt Burns Appointed IIAC Board Chair (IIAC Blog)
The Investment Industry Association of Canada (IIAC) is pleased to announce that Charyl Galpin, EVP & Managing Director, Head, Private Client Division, BMO Nesbitt Burns Inc., has been appointed Chair of the IIAC’s Board of Directors for 2017-18. She is the first woman in the IIAC’s history to serve in this capacity.
Steven Donald, President, Assante Wealth Management Ltd., was appointed Vice-Chair for 2017-18.
Ms. Galpin, who joined the IIAC Board in 2015, is already one of the most influential women in corporate Canada. She was named one of Canada’s Top 100 Most Powerful Women of 2014 by the Women’s Executive Network.
“Charyl Galpin’s appointment is a testament to her experience, accomplishments and valued perspective,” said Ian Russell, IIAC President and CEO. “Her appointment as our Chair is an indication of the broadening diversity of leadership right across the Canadian investment industry and financial sector.”
Worrisome Fragmentation of Global Capital Markets (IIAC Blog)
In my May Letter from the President, I discuss developments that threaten fragmentation of global capital markets. These include Brexit, the rise of populism and protectionism across Europe and elsewhere, and the push for deregulation and dismantling of existing regulations.
Global and regional authorities are working to maintain open and integrated markets to ensure the smooth and efficient functioning of markets. However, there are no quick fixes. Bond and repo market liquidity conditions remain a concern. Automation has the potential to transform the industry and deliver more liquidity to investors.
Click here to read more.
The Evolving New Paradigm for Financial Advice (IIAC Blog)
In early April, I attended the SIFMA Private Client Conference in Phoenix. The conference examined the new paradigm of financial advice in a rapidly changing environment. Participants discussed changes in client priorities and expectations, including the increased emphasis on value and convenience in addition to investment performance, as well as how advisors and firms are adapting to meet investors’ needs in the advent of the financial technology revolution.
Since many of the trends shaping the U.S. financial advisory business are also sweeping the Canadian marketplace, the insights and best practices shared at the conference are of interest to IIAC member firms.
Read my observations and takeaways from the SIFMA Private Client Conference in my April Letter from the President.
Call for Nominations: IIAC Top Under 40 Award
Do you know an outstanding individual under the age of 40 whose qualities and accomplishments have brought distinction to Canada’s investment industry? Submit your IIAC Top Under 40 Award nomination by June 30, 2017. Learn about the Award criteria and nomination process here.
IIAC Responds to 2017 Federal Budget (IIAC Blog)
IIAC President and CEO tells BNN’s Greg Bonnell the 2017 federal budget suggests a year from now we’ll be in the exact same place. All we have left is the same programs with a few changes and it’s not enough to give our economy a boost.
You can read the IIAC’s reaction to today’s federal budget here.
Letter from the President (IIAC Blog)
In February, I had discussions with global regulators at the Bank for International Settlements (BIS), the Financial Stability Board (FSB) and the Fixed Income, Currencies and Commodities Markets Standards Board (FMSB).
While there is pressure to adjust existing regulatory reforms, regulators will strongly resist these overtures to avoid undermining the much improved stability of the global financial system.
You can read more in the my most recent Letter from the President. Click here.
Letter from the President: Wisdom from the Asian Financial Forum and the lessons for Canadian policymakers (IIAC Blog)
In my latest Letter from the President, I look at the rise of populism in the developed world. The emergence of the so-called “new normal”, marked by weak GDP growth and stagnant incomes, has unfolded as a troubling, persistently enduring economic condition, rather than a cyclical phenomenon. I argue that governments must find consensus for pro-growth policies to break the economic malaise, embracing low tax rates, broad tax reform, stimulative spending, and deregulation, and avoid the impulse for excessive social spending and protectionism. Failure risks political pressure for even more radical policy solutions.
The IIAC has described the details of a pro-growth agenda to boost investment, jobs and opportunity. Click here to read my latest Letter from the President.