Deals
CIBC Leads Canadian Banks for Mergers, Ousting Goldman Sachs
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CIBC led Canada’s investment banks in advising on Canadian mergers last year, ousting foreign firms such as Goldman Sachs Group Inc. and Morgan Stanley from the top-three spots for the first time in at least a dozen years.
Canadian Imperial Bank of Commerce’s investment bank worked on 38 deals valued at $36.1 billion, including advising Equinox Minerals Ltd. on its sale to Barrick Gold Corp., according to data compiled by Bloomberg. Bank of Montreal’s BMO Capital Markets was second, followed by Royal Bank of Canada’s RBC Capital Markets. JPMorgan Chase & Co. was fourth and Toronto-Dominion Bank was fifth.