Our Q3 2020 Quarterly Report is out!
This report covers topics including Cidel’s performance summary, a podcast on ESG, award nomination outcomes and more. Enjoy!
Cidel continues to look for client centric solutions and the partnership with ERI and its OLYMPIC Banking System which started in 2016 has allowed Cidel to continue to be a major player in the UHNW space.
The implementation of the OLYMPIC Banking System achieved a number of positive outcomes:
- Cidel eliminated 3 existing systems resulting in a significant annual cost savings both in license costs and IT support.
- The system enabled client relationship managers to focus on building client relationships instead of building reports. This helped Cidel grow its AUM even during the initial stages of the implementation
- Reduced the amount of time spent on regulatory reporting required by OSFI, OSC, SEC, FACTCA, AML.
- Increased the accuracy and timeliness of performance reporting, including attribution analysis, to clients
- Allowed flexibility in reporting through the use of a data warehouse instead of using pre-programmed stock reports.
- Enabled the implementation of a new client facing website eliminating the need to use a third party vendor.
- Allowed STP trading and settlement at multiple custodians in multiple jurisdictions. Trading staff were able to focus on trading instead of trade settlement.
- Introduced enhanced security features to align user access with securities legislation requirements.
- Integrated the bank functions into the wealth management operations allowing clients to quickly access loan facilities
- Decreased the amount of time that auditors spent during Cidel’s annual audit.
Our committed partnership with ERI implementing our OLYMPIC Banking System has led to this huge success for both companies. The solution has already been chosen by more than 300 financial institutions and banks worldwide. ERI with more than 30 years of expertise, also won the Best Banking System category for 2019 at the Systems in the City Financial Technology Awards (London, United Kingdom), out of 10,000 votes from across the industry and a total of 121 nominated companies.
As an example of the efficiencies obtained from using the new system, Cidel Asset Management has processed, for a single client, over 77,000 individual trades and settled the trades with multiple custodians. This entire operation was done without a single error or a failed trade. The error free implementation & strong investment performance gave the client confidence to increase his allocation to us in the succeeding months.
Cidel Bank Canada has over 175 employees in its offices in Canada and abroad and oversees over $14 billion of client assets.
Karl Berger, Cidel Senior Wealth Consultant and Director, was guest host on BNN’s ‘The Street’ last week. In this clip he discusses the Federal Reserve and expected upcoming changes.
Gerard Baker, Editor-in-Chief of the Wall Street Journal speaks at a Cidel sponsored RamsayTalks event. Baker discussed America and the world in the age of President Trump.
Cidel has been appointed portfolio sub-advisor for the NexGen Canadian Dividend Fund, by Natixis Global Asset Management Canada. We are looking forward to continue building on our relationship with Natixis and expanding our sub-advisory business in Canada and around the world.
Click here to watch Rob Spafford on Bloomberg TV’s “The Daily Brief.”
Click here to watch Chief Investment Officer Arthur Heinmaa on Bloomberg TV.
Click here to read a Wealth Professional article on the global appeal of Canadian telecoms, featuring our portfolio manager Rob Spafford.
Click here to read this Canadian Business magazine about investing in a low interest rate environment, featuring our Chief Investment Officer Arthur Heinmaa.
Charles Lannon was interviewed by the Financial Post. Click here to read about our view on the current bull market, and some of the holdings in our Global Equity mandate.
Portfolio manager Stephen Caldwell gives The Globe and Mail some of his favourite stocks in the healthcare sector. Click here to read.
Click here to watch Stephen Caldwell on BNN’s ‘The Business News.’
Watch Rob Spafford discuss investing in railroads on Market Call on November 25, 2015
Check out Pierre Bouchard and Robert Spafford’s insights on the energy sector’s ripple effects and their top Canadian dividend stock picks in the Report on Business, Globe and Mail, January 14, 2015.
Or for Globe Unlimited Subscribers, click here: Q&A: Top Canadian dividend stock picks from Toron AMI’s Pierre Bouchard