Major French bank to set up shop in Canada

Article Abstract:

Credit Commercial de France, one of the France's biggest financial institutions, is setting up shop in Canada to provide private banking services to the wealthy. Since 1997, this is the first time that a foreign company has established a retail bank here. Credit Commercial has got permission from federal banking regulators, in March, to incorporate CCF Canada, a wholly owned subsidiary (Montreal). The new subsidiary's application for deposit insurance was approved by Canada Deposit Insurance Corp. (CDIC) for operating a retail bank and opening savings accounts, on behalf of individuals. According to Christian de Mailly Nesle, president of CCF Canada, the new subsidiary is part of the parent company's strategic plan to expand its private banking operations internationally, and has nothing to do with the future financial services reforms. He comments that it is too early to talk in detail about CCF Canada's plans, including how many branches it plans to open. Credit Commercial operates in several countries, including Switzerland, the UK, Greece, and Luxembourg.

France, Credit Commercial de France S.A.

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CIBC to get a dressing down

Article Abstract:

Canadian Imperial Bank of Commerce has announced a new dress code for its some of its 46,000 employees. The new policy, which does not yet apply to bank branch workers, allows casual clothing for office workers.

Personnel administration, Human resource management, Canadian Imperial Bank of Commerce

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Foreign banks queue to set up shop

Article Abstract:

New federal banking regulations in Canada will allow foreign banks to open branches in the country. Virginia-based Capital One Bank and Germany's Deutsche Bank AG are planning to expand into Canada.

Government regulation (cont), Marketing procedures, Geographic, Legal/Government Regulation, Laws, regulations and rules, Marketing, Deutsche Bank AG, DTBKY, Capital One Bank

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