Streetwise newsletter: Head of ETFs for Manulife Investments leaving post; RSM establishes Canadian foothold

The head of Manulife Investments’ exchange-traded funds department will be stepping down from her role later this month. (Clare O’Hara, for readers)

Canada’s corporate accounting, auditing and consulting company is becoming a shake up with the purchase of the largest office of mid-market specialist Collins Barrow by RSM International, the industry’s sixth-largest player. Story (Jeffrey Jones, for readers)

Growing earnings from U.S. banking operations played a significant role in fostering fourth-quarter earnings at two of Canada’s biggest banks — but investors rewarded one creditor and penalized the other. (James Bradshaw, for readers)

For the last couple of weeks, the burning question swirling around Enbridge Inc. hasn’t been whether to raise money, but how: market assets or sell new shares? (Tim Kiladze and Jeff Jones, for readers)

ELSEWHERE IN FINANCIAL SERVICES

In June 2014, authorities were investigating syndicated mortgages connected to Fortress Real Developments, a significant force in Canada’s multibillion-dollar market for the risky investments.

As banks operate to fortify their cybersecurity defences amidst an increasing amount of data breaches, they’re also exploring the promise of so-called “open banks,” a concept that could interrupt the staid financial services sector.

Credit Suisse set ambitious aims to reward investors on Thursday as CEO Tidjane Thiam responds to activist investor needs for greater performance two years into a revamp after hefty losses and cash calls.

The Bank of Canada is considering the merits and risks of electronic currencies as attention in cryptocurrencies such as Bitcoin reaches a fevered pitch.

DEAL WRAP

Keyera Corp. is selling $429.4-million in shares to repay debt and fund development, the most recent infrastructure business to tap markets as crude prices edge up. (Jeff Jones)

Farmers Business Network, manufacturer of a software platform that helps farmers pool information, announced today that it has raised a $110-million (U.S.) Series D round. The round was led most notably by Temasek, Singapore’s state investment company. Other participants included returning investors Kleiner Perkins Caufield amp; Byers and GV (formerly Google Ventures).

Uptake, a predictive analytics software provider based in Chicago, announced today that it has raised a117-million (U.S.) Series D round. The round was led by Baillie Gifford, a U.K.-based venture capital company, with involvement from Revolution development, which is directed by AOL cofounder Steve Case.

IN CASE YOU MISSED IT

Canada’s most prolific venture capital company, Real Ventures, has raised $180-million from shareholders for two new funds, including financing from global heavyweights Tencent Holdings Ltd. and Singapore autonomous wealth finance Temasek Holdings Private Ltd.. (Sean Silcoff, for readers)

Courtesy: The Globe And Mail

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