B of M plans major overhaul of its business

Article Abstract:

Bank of Montreal is mulling a major restructuring that could eliminate the bank's less profitable divisions. The overhaul should also make its executives more accountable for the performance of their business lines. The restructuring was first hinted at by bank chairman and CEO Matthew Barrett after the scuttling of the bank's proposal to merge with Royal Bank of Canada. Barrett said at that time that the bank should look for other ways to promote efficiencies other than the merger route.

Commercial Banking, Commercial Banks, Bank of Montreal

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Rumours run Newcourt ragged

Article Abstract:

Newcourt Credit Group Inc of Toronto, Ontario, has been the subject of several rumors in recent months, frustating both analysts and investors. The company was rumored to be looking for a buyer, talking with Deutsche Bank AG to acquire part of the German banks' US operations, and had called off the negotiations in that sequence. The company originates, manages and sells asset-based loans to commercial and corporate customers.

Mortgage and Nonmortgage Loan Brokers, Mortgage Bankers & Brokers, Newcourt Credit Group Inc.

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