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Jonathan Broer will become president of Smith Financial Corp. after more than 16 years at Toronto-Dominion, including time leading the financial institutions group in Canada and the investment banking division in Europe and Asia-Pacific. He also previously worked at Genuity Capital Markets and Canadian Imperial Bank of Commerce.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The acquisitions may range from the low to high hundreds of millions of dollars and could be in both private and public markets, Smith said. He added that he’ll be open to diversifying the types of businesses he owns, as long as the targets are undervalued.Article contentto buy Canadian alternative mortgage lender Home Capital Group Inc., which would add the firm to his $5-billion portfolio of personal holdings. Those assets include stakes in First National Financial Corp.
The Home Capital purchase was negotiated in the midst of the Canadian housing market’s steepest correction in years. In 2010, Smith bought the mortgage-insurance business from American International Group Inc. when it was forced to sell operations in the wake of the financial crisis. Broer advised Smith on the AIG acquisition when he was leading the financial institutions group at TD.
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