National Post

RBC CAPITAL MARKETS BROADENS REACH FOR NEW HIRES

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RBC Capital Markets is looking beyond the firm’s traditiona­l talent pools for potential hires as the competitio­n for highly skilled workers heats up. The trading and investment-banking arm of RBC is considerin­g people currently serving as analysts or even further afield, such as executives working in corporate jobs, said Derek Neldner, the division’s chief executive. “There’s a very competitiv­e market for talent right now, so to get the best people we have to look quite broadly and be open-minded,” Neldner said in an interview. The bank is looking to hire for its advisory and originatio­n businesses, including roles in debt capital markets, securitiza­tion and corporate equity derivative­s, Neldner said. There will also be hiring for juniorand mid-level positions as well.

Manulife Financial Corp won a lawsuit filed in Canada by hedge fund Mosten Investment LP, which had claimed right to unlimited deposits into universal life insurance contracts that offered high interest rates based on a 1997 insurance policy. Toronto-based Manulife said on Wednesday an appeal court ruled in favour of the life insurer and that the Government of Saskatchew­an regulation applies to all universal life policies, including those that are at issue in the litigation. A Canadian court in 2019 dismissed previous claims against Manulife by hedge fund Mosten, which wanted to take full advantage of contracts from the ’90s, when interest rates were at much higher levels. A lawyer representi­ng Mosten did not immediatel­y respond to a request for comment.

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