Mackenzie Financial Corp. of Toronto launched an equity fund that will invest in U.S. companies.
The Mackenzie Ivy American Class Fund, introduced Monday, will pursue a long-term growth strategy consistent with capital preservation.
Jerry Javasky, a senior vice president for Mackenzie, will manage the team that manages the fund.
Mackenzie was founded in 1967 and had $54.5 billion in assets under management on Nov. 30.
The top five banks and thrifts have combined total assets of nearly $13 trillion.
Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments. But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals.
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
