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Bank of Montreal is giving Christine A. Edwards, partner in Winston & Strawn’s corporate practice group, a seat on its board of directors.

A 25-year veteran of the financial services industry, the Chicago-based Edwards focuses on the regulation of the financial services industry, corporate governance and public and regulatory policy issues for Winston & Strawn.

“She is a well-respected lawyer with deep expertise in financial services, and is also actively involved in the civic life of Chicago — a key market for BMO,” said David Galloway, chairman of the board, Bank of Montreal.

In her previous positions, Edwards was executive vice-president and chief legal officer at Bank One Corporation, with responsibilities for the company’s law, compliance, regulatory and government relations functions. She also served as executive vice-president and chief legal officer for other prominent financial services firms, including Morgan Stanley and ABN AMRO, North America.

– John Powell

• • •

Tax service Ryan names Canadian principal

Ken Shaw is joining tax services firm Ryan as a principal to support the growth of its Canadian property tax practice.

Specializing in property tax consulting for industrial resource-based manufacturing facilities, processing facilities, and centrally assessed properties, Shaw will be based in the Calgary office.

For the past 25 years, he has been recognized as a leader in the assessment of machinery and equipment intensive properties in western Canada with specific expertise in the province of Alberta.

“Our clients will benefit tremendously from Ken’s in-depth property tax experience and our growing presence across Canada,” said Brendan F. Moore, CEO and managing principal of Ryan Property Tax Services ULC.

Previously, Shaw served as the Director of Major Industrial Assessments for the province of Alberta and held a number of senior level executive positions with several major tax consulting firms in western Canada.

– John Powell

• • •

U.S. consumer spending, personal incomes flat

U.S. consumers did not boost their spending in June and their incomes failed to increase, further evidence that the economic recovery slowed in the spring. And Americans saved at the highest rate in nearly a year.

Personal spending was unchanged in June, the Commerce Department reported Tuesday. It was the third straight month of lacklustre consumer demand. Incomes were also flat, the weakest showing in nine months.

The disappointing report on spending and income was among a raft of data released Tuesday that confirmed the economy ended the April-to-June quarter on a weak note.

Factory orders dropped 1.2% in June to a seasonally adjusted US$406.4 billion, the Commerce Department said. It was the second consecutive decline after nine straight months of gains. Lower demand for steel, construction machinery and aircraft dragged down the figure.

And the number of buyers who signed contracts to purchase homes fell in June. The National Association of Realtors says its seasonally adjusted index of sales agreements for previously occupied homes dipped 2.6% to a reading of 75.7. That was the lowest on records dating back to 2001 and down nearly 19% from the same month a year earlier.

– Associated Press

(08/03/10)