Canada's 'largest ever' intergenerational wealth transfer 08/06/2016 In the next decade Canadian baby boomers are set to inherit $750 billion, according to research from Canadian Imperial Bank of Commerce (CIBC). The bank describes this as the “country's largest-ever transfer of wealth” and adds it “is expected to alter the retirement landscape and have potentially significant economic impacts".
Bedell Trust in MBO 08/04/2016 Bedell Trust, an eprivateclient Top 25 Trust Company, has announced a management buyout (MBO). The MBO was backed by private equity firm Inflexion. Financial terms were not disclosed and completion is subject to regulatory approval.
Once complete the management team will retain full operational control of the business. The existing management team, including Nick Cawley, chief executive and an eprivateclient 50 Most Influential, and Michael Richardson, executive chairman, will continue to lead the business.