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Financials News

CIBC CEO McCaughey unveils retirement plan, to exit in 2016

CIBC CEO McCaughey unveils retirement plan, to exit in 2016

Gerry McCaughey, Canadian Imperial Bank of Commerce’s chief executive officer, will retire in two years.

Posted on 4-24-2014 at 10:18 AM
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CIBC, buyout firms circle Russell Investments: Reuters

Canadian Imperial Bank of Commerce, the fifth largest bank in Canada, and two private equity consortia are exploring offers for global asset manager Russell Investments, according to...

Posted on 4-23-2014 at 10:11 AM
TD ousts CIBC as Canada’s top credit-card issuer

TD ousts CIBC as Canada’s top credit-card issuer

Toronto-Dominion Bank, which has bought about $17 billion of credit-card assets since 2011, displaced Canadian Imperial Bank of Commerce as the country's top issuer, according to the Nilson...

Posted on 4-17-2014 at 11:56 AM
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Goldman Sachs profit falls 11% but beats estimates

Goldman Sachs Group Inc. reported an 11-percent drop in first-quarter profit on Thursday as client activity remained constrained and fixed-income revenue shrank.

Posted on 4-17-2014 at 8:51 AM
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Morgan Stanley beats estimates as trading revenue improves

Morgan Stanley reported a 49-percent rise in first-quarter earnings on Thursday, helped by higher income from wealth management and institutional securities.

Posted on 4-17-2014 at 7:19 AM
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Litigation expenses push Bank of America into loss

Bank of America Corp posted a first-quarter loss as the No. 2 U.S. bank recorded $6 billion US in litigation expenses related to a settlement with the Federal Housing Finance Agency and...

Posted on 4-16-2014 at 7:56 AM
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Citigroup profit rises on smaller loss from troubled assets

Citigroup Inc.'s quarterly net profit rose 4 percent as a smaller loss on its troubled assets made up for a drop in revenue and profit from its core trading and lending businesses.

Posted on 4-14-2014 at 9:13 AM
Wells Fargo profit beats estimates, sets aside less for bad loans

Wells Fargo profit beats estimates, sets aside less for bad loans

Wells Fargo & Co, the biggest U.S. mortgage lender, reported a better-than-expected 14-percent rise in first-quarter net profit as it set aside less money to cover bad loans.

Posted on 4-11-2014 at 9:18 AM

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