Troubled YBM makes key management changes

Article Abstract:

YBM Magnex International Inc., an industrial magnet maker, has made key management changes, appointing Douglas Koop as chief operating officer and John Gobbi as managing director of subsidiary Magnetics Ltd. of the UK. The appointments, which were made to satisfy the clamor of institutional shareholders, however, failed to satisfy the company's biggest shareholder, Connor Clark & Lunn Investment Management Ltd. of Vancouver. The investor insists that YBM implement a change in the members of its board of directors, particularly, Mr. Fisherman, Kenneth Davies and Michael Schmidt.

Comment:

Makes key management changes, appointing Douglas Koop as COO & John Gobbi as managing director of Magnetics Ltd

All Other Miscellaneous Electrical Equipment and Component Manufacturing, Electromagnets, YBM Magnex International Inc.

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Midland Walwyn, Merrill to merge

Article Abstract:

Midland Walwyn, the largest independently owned stockbrokerage in Canada, and Merrill Lynch, one of the biggest investment banks in the world, intend to merge in a deal worth C$1.26 billion. According to Merrill chairman and CEO David Komansky, the deal helps Merrill accomplish its goal of establishing a significant presence in all major markets. Merrill has offices in 45 countries and administers $1.3 trillion in client assets. Midland, which has 116 branch offices throughout Canada, has C$42 billion in client assets under management.

Comment:

One of the biggest investment banks in the world and Midland Walwyn intend to merge in a deal worth C$1.26 bil

Securities Dealers, Investment Banking and Securities Dealing, Acquisitions & mergers, Merrill Lynch & Company Inc., Midland Walwyn Inc.

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Relations with U.S. still sore, IDA chief contends

Article Abstract:

The chairman of the Investment Dealers Association of Canada, Terrance Salman, said that Canadian relations with the U.S. have been damaged by the war in Iraq. Salman raised concerns about the two countries' "special relationship."

International politics, Officials and employees, Beliefs, opinions and attitudes, International relations, Investment Dealers Association of Canada, Salman, Terrance

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