Tag Archives: Letter from the President

Letter from the President: Global Credit Markets at a Crossroads (IIAC Blog)

Letter from the President: Global Credit Markets at a Crossroads (IIAC Blog)

On June 4-5, 2015, I participated in the International Capital Market Association (ICMA) Annual General Meeting and Conference in Amsterdam—perhaps the foremost venue to understand the leading edge trends in global and European credit markets and the direction of regulatory reform. The bond market liquidity drought dominated the conversations. Finding buyers in the market when investors look to sell has gotten more difficult, resulting in greater day-to-day volatility and wider bid-ask spreads. Even the U.S. Treasury bond market—one of the most liquid markets in the world—is not immune to turbulence. 

There are a number of factors behind this liquidity crunch, … Continue reading

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Ian Russell “Letter from the President”

Ian Russell “Letter from the President”

Ian Russell’s latest Letter from the President entitled “Saving the Canadian Venture Markets Before It’s Too Late” is now available. 

In it, he writes: “We must tackle the underlying causes of deteriorating liquidity and financing in venture markets soon, or run the risk of losing the best source of capital to grow small and medium-sized Canadian businesses into globally competitive enterprises that drive job creation, innovation and economic growth.”

Coverage of Russell’s Letter includes this article on Advisor.ca.

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Ian Russell’s Latest Letter from the President

Ian Russell’s Latest Letter from the President

Ian Russell’s latest Letter from the President contains insights and takeaways from the SIFMA Private Client Conference held April 8 in Chicago.  According to Russell, the conference “provided a timely opportunity to review the broad themes influencing the wealth management business in U.S. capital markets and gain insights on the challenges and opportunities unfolding in the business, the competitive positioning of large and small firms, and adjustments to business models in response to changing demand.”

While the event focused only on the U.S., Russell states that “Canadian firms confront similar demographic and technology trends, and face the same business … Continue reading

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Trade Agreement With EU Offers Big Opportunities for Canada – and the Investment Industry

Trade Agreement With EU Offers Big Opportunities for Canada – and the Investment Industry

In his latest Letter from the President, the head of the IIAC, Ian Russell, outlines the potential benefits of CETA to Canada’s economy and investment dealers, in particular. 

Russell notes, “The expected increase in direct investment flows into Canada, and the expansion of export markets into Europe will benefit the Canadian investment industry.”  He offers the following rationale: 

European business will look to Canadian dealers to identify potential acquisitions in the Canadian corporate sector and finance their purchase and expansion.  

The investment banking operations of the mid-tier boutiques will find similar investment banking opportunities with mandates to identify … Continue reading

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IIAC on 2014: What’s Happened and What’s in Store

IIAC on 2014: What’s Happened and What’s in Store

Released this morning, Ian Russell’s latest Letter from the President is already generating a lot of attention.  In it, Russell examines how Canada’s investment dealers have fared so far in 2014 and what’s in store for them through to the end of the year.  For the most part, it’s good news. 

Highlights:

The first half of this year was marked by a solid rebound in industry-wide revenue and profits. Improved market and business conditions have enabled all industry groupings – integrated firms, retail boutiques and institutional boutiques – to improve earnings performance. Specific stats can be found on … Continue reading

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Ian Russell With an Update on Global Regulatory Initiatives

Ian Russell With an Update on Global Regulatory Initiatives

IIAC President and CEO Ian Russell’s latest Letter from the Presidentaddresses current priorities of global regulators, including cross-border rules harmonization, corporate governance shortcomings, and the role of regulators in enhancing ethical standards.

“The extensive effort to regulate trading and clearing of securities in OTC derivatives markets has been held up as the archetypal case of poor coordination among domestic regulators,” says Mr. Russell. It’s resulted in “different and sometimes conflicting rules and requirements for similar trading and clearing transactions across jurisdictions, adding unnecessarily to compliance costs and market inefficiencies, and fragmenting what had been a closely-linked global market in OTC … Continue reading

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