Edmund Clark News
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Bharat Masrani, who helped oversee Toronto-Dominion Bank’s $25 billion U.S. expansion, is likely to add to that business when he takes over next year as chief executive officer of Canada’s second-biggest bank.
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Toronto-Dominion Bank Chief Executive Officer Edmund Clark, who led Canada’s second-biggest lender in a $25 billion U.S. expansion, will retire in November 2014 after a dozen years in the post.
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The Scotia Canadian Dividend Fund has cut its bank holdings by 40 percent, the most among Canada’s 10 largest actively-managed mutual funds, on concern that lending is slowing as consumers retrench.
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Bank of Montreal, Canada’s fourth- largest lender, awarded Chief Executive Officer William Downe C$9.22 million ($9.03 million) in 2012 compensation, a 6.8 percent drop from a year earlier, after the bank missed some financial targets.
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Bank of Nova Scotia, Canada’s third- biggest lender, awarded Chief Executive Officer Richard Waugh C$11.1 million ($10.8 million) in total compensation last year, a 4.6 percent increase, as the bank posted record profit.
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Toronto-Dominion Bank, Canada’s second-largest lender, awarded Chief Executive Officer Edmund Clark C$10.9 million ($10.7 million) in 2012, a 4.4 percent decrease from a year earlier.
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Toronto-Dominion Bank Chief Executive Officer Edmund Clark came to Wall Street this week with a simple recipe for bankers trying to avert another financial crisis: more transparency and less arrogance.
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Toronto-Dominion Bank Chief Executive Officer Edmund Clark is no Jamie Dimon and that may explain why his Canadian bank can’t violate any Dimon principles on speculative trades.
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Royal Bank of Canada, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank reported first-quarter profits that topped analysts’ estimates on record earnings from personal and commercial lending.
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Toronto-Dominion Bank, Canada’s second-largest lender, said first-quarter profit climbed 21 percent on higher Canadian and U.S. consumer bank results. The bank raised its quarterly dividend.
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