Claire Brownell

Toronto

Future of finance reporter at The Logic. I cover how the financial system is adapting to technological change. I don’t post here much any more.

Articles

BMO shakes up leadership amid overhaul of U.S. business

3 weeks ago | thelogic.co | Claire Brownell

The Canadian lender named Aron Levine, a former Bank of America executive, to lead personal and business banking, commercial banking and wealth management south of the border, reporting to U.S. CEO Darrel Hackett and BMO CEO Darryl White. (The Logic)Talking point: The changes come as BMO works to turn around credit issues that plagued the bank in the past, particularly in its U.S. commercial loan book.
It was Canada’s biggest bitcoin miner. Now it’s betting big on the Trumps

3 weeks ago | thelogic.co | Claire Brownell

Tucked away on a side stage at a crypto conference in downtown Toronto, a young man in a dark suit—no tie, and apparently no socks—took to the microphone to explain why what was once Canada’s most prominent bitcoin miner had decided to team up with the Trumps. Earlier that afternoon, Eric Trump and Asher Genoot, CEO of Hut 8, had delivered a main-stage talk featuring plenty of superlatives to a standing-room-only crowd.
Fispan raises US$30M Series B

3 weeks ago | thelogic.co | Claire Brownell

Canapi Ventures led the round in the Vancouver fintech, which plans to use the money to speed up product development, hire new staff and sign up more customers. Fispan makes software that lets companies integrate their banking with popular accounting and business platforms.
Wall Street joins Bay Street in raising alarm about Trump’s Big Bill

4 weeks ago | thelogic.co | Claire Brownell

Players in the U.S. financial world are raising concerns about a measure in President Donald Trump’s so-called “big, beautiful bill” that would raise taxes on U.S.-asset-holding investors from countries with tax policies Washington deems discriminatory. Such a measure would discourage foreign investment, they say.
Canada’s Big Six find ways to cash in amid tariff turmoil

4 weeks ago | thelogic.co | Claire Brownell

Investors braced for pain as Canada’s big banks reported their first set of earnings since U.S. tariffs sent shockwaves through global markets. But on calls with analysts, executives at the Big Six said the picture isn’t as bleak as it could be—and they’ve even found ways to profit from the uncertainty. Finding ways to pay the bills: As expected, all six major banks set more money aside to cover possible bad loans than they did last year in the second quarter.
BMO, National Bank top estimates on adjusted profit

1 month ago | thelogic.co | Claire Brownell

Bank of Montreal reported second-quarter earnings per share, adjusted to exclude the cost of acquisitions and other items, of $2.62, up about one per cent from the previous year and 2.75 per cent higher than analyst expectations compiled by S&P Global Market Intelligence. National Bank posted adjusted earnings per share in the second quarter of 2.85, 12 per cent higher than the previous year’s $2.54 and beating analyst expectations by about 19 per cent.
Scotiabank misses on profit as tariff impact takes effect

1 month ago | thelogic.co | Claire Brownell

The lender reported $2.032 billion in second-quarter net income, down about three per cent from last year and 9.1 per cent lower than analysts expected, according to data compiled by S&P Global Market Intelligence. (The Logic)Talking point: On a call with analysts, executives said economic uncertainty caused by the U.S.-led trade war is causing consumers to be more cautious about spending and borrowing, weighing on the bank’s results.
Inside Desjardins’ multibillion-dollar bet to haul itself into the future

1 month ago | thelogic.co | Aimee Look |Claire Brownell

Mathieu Staniulis, Desjardins’ chief transformation officer for retail banking, is four years and billions of dollars into a push to bring Desjardins into the digital age—and he’s not finished yet. “People are always asking me, when is the transformation going to be over?” Staniulis said in an interview.
Lightspeed shares plunge after disclosing goodwill writedown

1 month ago | thelogic.co | Claire Brownell

The Montreal fintech closed down eight per cent Thursday after the firm revealed it took a US$556-million goodwill writedown. The move was prompted by the company’s net assets exceeding its market value on March 31. (The Logic)Talking point: The charge comes as Lightspeed CEO Dax Dasilva enters the second year of an effort to turn the firm’s lagging share price around through cost-cutting and a focus on profitable growth.
TD Bank to cut two per cent of workforce

1 month ago | thelogic.co | Claire Brownell

The layoffs are part of a broad cost-cutting initiative as the lender reorganizes its business and tightens its regulatory controls following severe penalties in the U.S. over money-laundering prevention failures. (The Logic)Talking point: The effects of October’s U.S. penalties on TD, which include a US$3-billion settlement and an asset cap that limits its growth in the country, continue to reverberate through the lender.

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Claire Brownell @clabrow

24 May 24

If you watched the Netflix documentary on the 2015 Ashley Madison hack (which I'm interviewed in), and you're wondering what happened to then-CEO Noel Biderman, I have an answer for you in @the_logic today https://t.co/al22E16EsI

Claire Brownell @clabrow

14 May 24

RT @ted_livingston: It was great to sit down with the talented @clabrow. I'm more excited than ever about the opportunity to deliver on Sat…

Claire Brownell @clabrow

18 Sep 23

“The owner of the TSX is considering doing WHAT??!” was my reaction to learning TMX Group is proposing becoming one of the first stock exchanges in the world to facilitate crypto trading and perhaps it will be yours too https://t.co/n42M1TiSjY