A new investment dealer \u2014 jointly owned by Scotiabank, a couple of Indigenous development companies, and a First Nations group \u2014 will launch later this month, with a view to advancing Indigenous participation in the capital markets.<\/p>\n
The firm, Cedar Leaf Capital Inc., is 30% owned by Scotiabank, with the other 70% split equally between a trio of Indigenous groups \u2014 Nch’kay Development Limited Partnership, the economic development arm of the Squamish Nation; Des Nedhe Group, the economic development corporation for the Dene people of English River First Nation; and the Chippewas of Rama First Nation.<\/p>\n
It received regulatory approval from the Canadian Investment Regulatory Organization (CIRO) in late September.<\/p>\n
To start, the new firm will be the first investment dealer that’s majority-owned by Indigenous groups, with the intention that it will ultimately become wholly Indigenous-owned and operated.<\/p>\n
“Until such time, the firm’s operations will leverage Scotiabank’s infrastructure and core enterprise frameworks as it develops its self-sustaining operations,” the bank said in a release.<\/p>\n
Initially, the firm will serve as an underwriter, or placement agent, for corporate and government debt, with plans to potentially expand into advisory services and equity capital markets.<\/p>\n
“Our goal is to not only support Indigenous economic participation, but to empower nations through meaningful relationships built on trust and respect,” said the firm’s CEO, Clint Davis, in a release.<\/p>\n
“Our clients will be partners in building a stronger and more resilient financial system. We look forward to working with those who share our vision of promoting economic sovereignty and empowering Indigenous communities,” he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
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