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Sunday, November 10, 2024

Scotiabank to launch new funding seller agency for Indigenous shareholders


“With a group of seasoned capital markets and danger administration professionals, Cedar Leaf Capital will search to offer differentiated debt capital markets recommendation and execution companies to governments and company shoppers and to ascertain roles in seller syndicates on new bond problem transactions with the near-term ambition of taking lead roles, notably in Indigenous-related financings,” mentioned Paul Scurfield, International Head, Capital Markets, International Banking and Markets, Scotiabank.

The goal of the brand new funding seller is to supply institutional buyers monetary advisory companies in all provinces and territories throughout Canada, particularly specializing in performing as a placement agent or underwriter of Canadian fastened revenue securities choices. It’ll additionally encourage larger Indigenous participation in capital markets.

“As the primary Indigenous owned and led funding seller in Canada, Cedar Leaf Capital’s goals will prolong past these of a conventional market middleman,” defined Loretta Marcoccia, Government Vice President, International Operations and Know-how, Scotiabank and Chair, Cedar Leaf Capital Inc. “A few of the largest companies in Canada, and the overwhelming majority of provincial/territorial governments and businesses, have an expressed need to work with Indigenous-owned companies. Cedar Leaf Capital opens the door to a broad group of company and authorities debtors and can present an vital step ahead in assist for the Indigenous financial system.”

Just lately, the Indigenous Prosperity Basis introduced its inaugural Board of Administrators, a big step in its initiative to advertise Indigenous empowerment and financial prosperity

Cedar Leaf CEO

Heading up the brand new agency will likely be CEO Consumer Davis, who’s Inuk from Labrador, and a Beneficiary (member of the neighborhood) beneath the Labrador Inuit Land Declare Settlement. Davis has greater than 20 years of expertise with monetary companies and Indigenous organizations.

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