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(April 13, 2007) BDO Dunwoody LLP and Grant Thornton LLP, two national accounting advisory firms, issued a release on Friday stating they are officially considering a merger.

The two firms say over the next several months, representatives from both organizations will assess the merits of a combined organization. The discussions will include BDO, Grant Thornton and Grant Thornton’s Quebec subsidiary, Raymond Chabot. Grant Thornton already has a joint partnership with BDO in the Montreal and Ottawa areas.

Grant Thornton Canada is a subsidiary of Grant Thornton International and has 370 partners and 2,900 employees working in 99 offices across the country. BDO Dunwoody, the Canadian member firm of the BDO International network, has more than 315 partners and 1,900 employees in 95 offices across the country.

Alex MacBeath, CEO of Grant Thornton, says a merger would be a marriage of opportunity, while Gilles Chaput, CEO of BDO Dunwoody, says the combined strength of the two firms would make it a serious force at both the local and national levels.

“A combined firm would have enhanced strength, capacity, depth and market credibility to compete in marketplaces across Canada, while at the same time maintaining a strong position in the local communities throughout Canada,” he says.

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Ned Goodman named chancellor of Brock University

(April 13,2007) Ned Goodman, founder and chairman of Dundee Corporation and Dundee Wealth Management, has been named chancellor of Brock University in St. Catharines, Ont.

As Chancellor, Goodman will assume a leadership role in advancing the university. The chancellor also confers all degrees and diplomas.

He completed his undergraduate studies in Science at McGill University, and began his career as a geologist before embarking on a career in managing investments. He later earned an MBA from the University of Toronto and a Chartered Financial Analyst designation from the University of Virginia in 1967.

Brock says Goodman’s appointment meshes well with the university’s goals and desire to remain at the forefront of business and education.

“In welcoming Ned Goodman as chancellor, the institution will be continuing its legacy of growth by inviting an individual with incredible professional achievement and community involvement to help lead it into the future,” says Brock University president, Jack Lightstone.

Goodman will begin his three-year appointment during fall convocation ceremonies in October.

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Real estate exchange president steps down

(April 13, 2007) Angela Huxham has stepped down as president of Vancouver-based egX Canada, a global real estate securities trading system owned by Global Financial Group, to take an active role with the company’s regulatory oversight committee.

“It has been a pleasure to work with Ms. Huxham through the various complexities of obtaining regulatory approval to operate egX Canada as an exchange. Ms. Huxham’s extensive regulatory experience and industry knowledge will be of great value while she serves as a member of the Regulatory Oversight Committee,” says Global Financial CEO, Leo Chamberland.

Mary Wong, a former compliance officer with regulation services and currently the vice-president of market operations, will assume the role of acting president.

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RBC offers new low-fee bank accounts

(April 13, 2007) RBC Royal Bank seems to be responding to the growing complaints about extra fees on savings and chequing accounts. As of May 1, RBC Royal Bank will offer a new line of bank accounts with reduced banking fees and incentives for loyal customers.

One of the new accounts, the RBC Signature No Limit Banking account, will remove the cap of 65 transactions, waive the RBC fee for three non-RBC ATM transactions and charge customers $12 each month.

The bank is also offering free student and senior accounts with unlimited debit transactions.

“Our strategy is twofold — we want to reward existing clients for their loyalty, and give new clients more reasons to bank with us,” explained James Westlake, head of Canadian banking. “We are providing greater value to clients by rewarding them with savings and rebates for the breadth of their relationship with us. We’re also making it easier for people to choose accounts that best suit their needs and save them the most money.”

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Kensington’s private equity fund IPO set to go

(April 13, 2007) Kensington Capital Partners Limited has announced that it has filed a final prospectus for the initial public offering of its Kensington Global Private Equity Fund, scheduled to close on April 20, 2007.

Kensington says the Global Private Equity Fund is a fund-of-funds product for investors who want access to a diversified portfolio of global private equity investments, including private equity funds and direct investments in private companies.

The minimum investment is $25,000. Units of the fund will be available to public investors at a price of $20.00 per unit, payable in two installments. The first installment of $10.00 is payable upon the closing of the offering. The second installment of $10.00 is payable on or before December 5, 2007.

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(04/13/07)