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(June 6, 2007) If you’ve got clients with a hankering for natural resources, then Desjardins Group has just the product to satisfy their crude oil cravings.

The company announced Wednesday that it’s launching the Natural Resource Guaranteed Investment on June 11. The product is geared toward investors who want to invest in the international resource market. Desjardins says capital is 100% guaranteed at maturity.

The NRGI offers a 30% weighting in crude oil, 10% natural gas, 15% aluminum, 15% copper, 7.5% nickel, 7.5% zinc, 5% gold and 10% composed of corn, wheat, soybean, sugar, red wheat, cotton, coffee and cocoa.

As for return potential, Desjardins says members will receive a 30% return if the yield of the NRGI at maturity is between 0% and 30%. If the yield is higher than 30%, members will get the actual return. If the yield is negative, Desjardins says investors will still get a positive, though undisclosed, return.

“There are very few guaranteed capital structured products in the financial industry that offer such diversified access to the natural resources sector, which is generally reserved for institutional investors,” said Eric Landry, director, financial engineering. “One of the advantages of the Natural Resource Guaranteed Investment is that it makes these markets available to members who want to increase their portfolio diversification by taking part in the growth of emerging countries, as well as to those interested in having a wide range of underlying commodities to reduce their portfolio’s volatility.”

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Bank of Montreal adds three vice-presidents

(June 6, 2007) The Bank of Montreal’s Quebec operations are getting some new blood, as the bank announced the appointment of three new vice-presidents on Wednesday.

Nadine Girault will take on the role of vice-president, downtown Montreal, while Helen Tyros will be responsible for Montreal Metropolitan, and Mario Rigante will oversee Laval and Northwest Quebec.

Girault, who holds an MBA in financial services from the University of Quebec, has been in sales management for more than 20 years. She’s spent time at Royal Bank and Mouvement Desjardins.

Tyros was with TD Canada Trust, where she served as district vice-president and, most recently, as associate vice-president, sales, service and human resources, Quebec.

Another financial services industry vet, Rigante was the personal banking area manager at BMO and, most recently, was the senior manager, training, for Quebec.

“I am extremely pleased that we were able to fill these highly strategic positions with skilled internal leaders . . . while attracting proven executives known for their customer commitment and ability to exceed performance targets,” said François Hudon, the bank’s senior vice-president, Quebec division.

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BCSC goes after two Ontario advisors

(June 6, 2007) In an unprecedented move, the British Columbia Securities Commission has taken action against two men who broke laws in Ontario and Alberta.

The BCSC used section 161(6)(c) of the B.C. Securities Act to issue enforcement orders against Joseph Edward Allen and Syed Kabir, who were ordered by the OSC to cease trading in securities and stop trading in securities for seven years, respectively. Both men had been previously sanctioned by the ASC.

The BCSC gave Allen and Kabir an opportunity to respond to the application against them, but in the end the two were slapped with the same restrictions that the OSC handed down. The men are still allowed to buy and sell securities and hold mutual funds for their own use.

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Al Rickard wins Donald J. Johnston Award

(June 6, 2007) Sun Life financial planner Al Rickard needs to find a spot on his wall for a new plaque. The financial services veteran, who has been in the business for 30 years, is being honoured with the Donald J. Johnston Award for Outstanding Contribution to the Profession of Financial Planning in Canada. The award is sponsored by the Financial Planners Standards Council.

As part of the award, Rickard, who’s currently the associate vice-president, government and industry relations, for Sun Life Assurance, will donate $10,000 to the Women’s Crisis Centre of Waterloo Region, Rickard’s favourite charity.

“Al Rickard has worked tirelessly and passionately for the development and practical implementation of the highest standards of competence and ethics in the delivery of financial advice in Canada,” said Donald J. Johnston, founding president of the Financial Planners Standards Council. Johnston retired from the FPSC last year. “His legendary political acumen and knowledge of the regulatory landscape has been a tremendous asset to the cause of professionalism in financial planning for many years.”

Rickard will accept his award on June 14 at the FPSC board reception in Calgary.

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(06/06/07)