TORONTO – Change is afoot at the big Canadian banks, as some of its top leaders near retirement age just as the economy runs into fresh challenges with the pace of growth.
Last week, TD Bank chief executive Ed Clark disclosed a succession plan that will lead to his exit in November 2014, but his move also raises questions about how the other big banks are planning for their next generation of leaders.
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Canadian chief executives are exhaling after years of economic turbulence, reporting growing optimism about the economy and the outlook for their businesses.
A survey of 1,300 global CEOs, including 120 in Canada, shows Canadian executives are more confident than they were a year ago, and are significantly more confident than many of their global counterparts.
The survey, conducted by PricewaterhouseCoopers LLC and released Tuesday at the World Economic Forum in Davos, found 42 percent of Canadian CEOs are “very confident” about their company’s prospects in the next 12 months, compared to 36 percent globally, and an even larger 60 percent are “very confident” about growth in the next three years compared to 46 percent globally.
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The chief executive officer of the Vancouver Economic Commission has left to go work for Calgary Economic Development.
Lee Malleau, who has been on leave since last month, announced in a brief statement Friday afternoon that she was leaving the VEC after four years at its helm.
Malleau was heavily involved in transforming the city’s moribund economic development department into a commission aimed at trying to attract more businesses involved in the green economy.
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