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(January 24, 2008) There are a lot of people lacking confidence in the marketplace these days, including more than 1,000 CEOs.

The PricewaterhouseCoopers 11th Annual Global CEO Survey reports that CEOs’ confidence about prospects for short-term business growth fell by nearly 50% over last year’s results.

The drop is due to fears of a global recession, says the report.

According to PwC, only 33% of the 30 Canadian respondents are very confident about revenue growth over the next 12 months — last year, that number was 60%.

The same CEOs, however, said they’re confident about longer-term growth and their competitive strengths, with 46% indicating they are very confident in revenue growth over the next three years, compared to 42% globally.

The report reveals that Canadian executives are most concerned about a lack of key labour skills, over-regulation and downturns in major economies.

Globally, CEOs said that a downturn in major economies and lack of key labour skills (61%) are their main concerns, with over-regulation coming in a close third.

“The war for talent remains a key concern among Canadian CEOs, with over three-quarters indicating that their time is best spent on the people agenda,” says Ellen Corkery-Dooher, a PwC Advisory Services partner. “They recognize that having people with the right balance of commercial, technical and management skills is the key to success in their organizations. Leadership, adaptability, ability to collaborate, as well as creativity are seen as the most critical skills for people to lead organizations effectively.”

This bleak outlook doesn’t mean Canadian CEOs are going to throw in the towel. In fact, 33% of those surveyed plan to expand in their existing markets, while 27% say they’ll extend beyond the Great White North’s borders.

Globally, growth in existing markets is the main priority of 30% of CEOs, followed by new product development, at 20%, and geographic expansion, at 19%.

It’s not looking good for M&A activity, though. Only 17% of Canadian CEOs plan to complete a cross-border merger and acquisition in the next 12 months.

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Rice Financial hires Patty Houle

(January 24, 2008) Rice Financial Group has appointed Patty Houle to the position of senior vice-president, business development. An 18-year veteran of the financial services industry, Houle started off as an advisor and has worked in both the private investment sector and the dealership environment.

“Patty is a valuable addition to our executive management team,” says Dave Velanoff, president and CEO of Rice Financial. “We are excited about the opportunity her experience and expertise bring as we grow our firm and strengthen our service-driven advisor network.”

Houle will oversee Rice Financial’s overall business development, including the strategic learning centre, marketing department, and all product and advisor service offerings.

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Exchanges see new records

(January 24, 2008) It’s been a week of records on the Canadian exchanges. On Tuesday, the TSX set a record for the most trades in a day, with 1,030,720 trades, eclipsing the previous high-water mark of 996,795, set on August 16, 2007.

On Wednesday, the Montreal Exchange recorded a total of 1,527,885 options contracts changing hands on its platform, which includes the Boston Options Exchange. That trumps a previous record of 1,476,154 contracts, which was also set on August 16, 2007.

(01/24/08)