TORONTO — Canada's first Indigenous-owned investment dealer could soon be a reality as Scotiabank is partnering with two Indigenous development corporations and a First Nation to launch one.
Over time, Scotiabank intends to reduce its controlling stake so Cedar Leaf will become a fully Indigenous owned and led investment dealer. "While the economic participation of Indigenous communities has seen significant advancement, much more must be done." Cedar Leaf is set to be run by Clint Davis, who is Inuk from Labrador and has more than 20 years of experience with financial institutions and Indigenous organizations in Canada.
Posthaste: Bank of Canada a lot closer to inflation target — and rate cuts — than it thinks, strategist says TORONTO — Onex Corp. reported a fourth-quarter profit of US$373 million, down from US$435 million a year earlier. The investment firm and asset manager, which keeps its books in U.S. dollars, says the profit amounted to US$4.81 per diluted share for the quarter ended Dec. 31. The result compared with a profit of US$5.32 per diluted share in the last three months of 2022. For the full year, Onex says it earned US$529 million or US$6.