Royal Bank of Canada said Chief Executive Officer Gordon Nixon will retire next year as the nation’s largest lender reported fiscal fourth-quarter profit that beat analysts’ estimates on gains in investment banking and consumer lending.
Accounting firms would have to disclose the name of the partner in charge of a public-company audit as well as all outside firms that worked on the report under a proposal approved by the industry’s regulator.
National Bank of Canada, the country’s sixth-biggest bank, is open to more wealth-management deals outside Quebec as it integrates its takeover of Toronto- Dominion Bank’s institutional services business, Chief Financial Officer Ghislain Parent said.
National Bank of Canada, the country’s sixth-largest lender, said quarterly profit fell 4 percent on costs tied to acquisitions and severance. The firm raised its dividend 5.7 percent to 92 cents a share and announced a two-for-one stock split.
European stocks declined for a fourth day, their longest losing streak in more than five months, as better-than-expected U.S. jobs data fueled concern the Federal Reserve will pare stimulus measures sooner than forecast.