Frank McKenna takes a job

Frank McKenna, former N.B. premier and ambassador, named TD Bank deputy
Last updated 4:47pm EST 04/06/2006
TORONTO (CP) –


TD Bank (TSX:TD) has hired a high-level rainmaker with the appointment of Frank McKenna as deputy chairman. The former New Brunswick Liberal premier and recently retired Canadian ambassador to Washington will drum up business in both Canada and the United States, TD announced Thursday. Reporting to CEO Ed Clark, McKenna “will be responsible for supporting the bank in its customer acquisition strategy, particularly in the area of wholesale and commercial banking,” the bank stated. It’s a full-time job based in Toronto and requiring a lot of travelling, McKenna said in an interview.

Didn’t take the former Premier long, did it?

I was kind of hoping he would find a way to help out New Brunswick in his post Washington career.

Maybe he still will.

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0 Responses to Frank McKenna takes a job

  1. Anonymous says:

    THAT is wishful thinking. When was the last time TD Bank went out of its way for New Brunswick. Just goes to show, when you’re a corporate friendly politician, the payoffs are endless.

  2. scott says:

    Now he/she is anti-bank!!

    David,

    Are you sure Karl Marx is dead? Because that one anonymous above that continuously capitalizes words on your blog sure seems to be keeping his legacy alive with his very left leaning rants.

    Maybe the reason he capitalizes certain words is a sign? Maybe it is a pseudo Da Vinci code.

  3. PoliticsNB says:

    Yes this particular “Anonymous” poster is pretty much anti-everything that has to do with Capitalism, and Democracy…….but hey…..it takes all kinds 😀

  4. Anonymous says:

    “Small businesses have long complained about the lack of responsiveness to their concerns from Canadian banks.

    “The country’s six largest banks enjoy the major share of the small business market, (but) it cannot be emphasized enough that the competition they face with one another and with financial institutions as a whole, motivates them to improve servicing,” Catherine Swift, president of the Canadian Federation of Independent Business, told the House Commons Finance Committee earlier this year.
    (arguing against mergers)

    http://press.arrivenet.com
    /business/article.php
    /650429.html

    MELOCHE MONNEX,
    of course is their insurance arm. Last investment in New Brunswick: in June 2005 the company “expanded” it’s presence in Saint John (the only call centre I could find in the province). This was 125 jobs, some of which came from closing its TD Canada Trust Operations, and some from its recent purchase of Boston’s Liberty Mutual Group which had been there since 1998.

    So that’s ‘maybe’ 50-75 new jobs, ironically much more than the LNG terminal, so you’d really think more money would be put into the financial services sector.

    The new jobs, hell, let’s give them ALL the benefit of the doubt-their whole work force in New Brunswick comprises less than 1% of the company’s 30,000 employees, even taking into account “We intend to increase hiring by 25 per cent over the course of the next five years.” (VP Richard Evans) Which would be at most 25 new jobs.

    That’s 150 people.

    So let’s look at it from the ‘Marxist’ point of view (as if that’s an insult!:)

    Their operations of providing at most 150 jobs (we don’t know at what rate but we’ll assume they are decent) for the 18,000 policyholders in New Brunswick brings them approximately $18 million per year (from their numbers).

    That’s 18 million that is going to their head offices in Kitchener, Ontario. With public insurance that would provide 360 jobs at $50,000 apiece-and that’s just from ONE company. So, three times the jobs for an equal investmert-or perhaps lower premiums! Hmmmmm

    Next, here’s an Ipsos Reid survey, to be fair it was done for a credit union, if you’re the kind of person who disbelieves all surveys according to who pays for them then I suggest you simply do a search on ‘banking fees’ and see what pops up. I’ve certainly seen LOTS of evidence people are not happy with their banking system, but that’s something that can be debated:

    VANCOUVER, Dec. 30 /CNW/ – You may be paying on average as much as $258 a year ($21.50 a month) in banking fees on your main chequing account, according to the results of a new nationwide Ipsos-Reid survey. Several groups are not happy about it. The poll was carried out by Ipsos-Reid on behalf of Coast Capital Savings and interviewed 800 Canadians, between the ages of 19 and 55, from coast to coast in November 2004. Its findings can be projected to this age group within a margin of error of plus or minus 3.5 per cent, nineteen times out of twenty.

    Some key findings about Canadians in this age group:

    – A sizeable minority (40 per cent) of people who hold chequing accounts think their main chequing account service fees are unfair.

    – Men are significantly more likely than women to think that their chequing account service fees are unfair (47 per cent of men compared to 32 per cent of women).

    – Credit union members are significantly less likely than bank customers to feel that the service fees they pay on their main chequing account are unfair (29 per cent of credit union members compared to 43 per cent of bank customers).

    Lawrie Ferguson, Coast Capital Savings Senior Vice President, Marketing, said while the public can take steps to minimize service fees (see tips below), the survey results send an important message to financial institutions. “These findings indicate that while the whole issue of banking service fees may have disappeared from the headlines in recent years, it certainly hasn’t gone away for the average consumer,” Ferguson said. “It’s clear that many people still feel the financial services industry is charging them more than it should for the right to access their own money.”

    Lord, sometimes its just TOO easy.

  5. Anonymous says:

    “Small businesses have long complained about the lack of responsiveness to their concerns from Canadian banks.

    “The country’s six largest banks enjoy the major share of the small business market, (but) it cannot be emphasized enough that the competition they face with one another and with financial institutions as a whole, motivates them to improve servicing,” Catherine Swift, president of the Canadian Federation of Independent Business, told the House Commons Finance Committee earlier this year.
    (arguing against mergers)

    http://press.arrivenet.com
    /business/article.php
    /650429.html

    MELOCHE MONNEX,
    of course is their insurance arm. Last investment in New Brunswick: in June 2005 the company “expanded” it’s presence in Saint John (the only call centre I could find in the province). This was 125 jobs, some of which came from closing its TD Canada Trust Operations, and some from its recent purchase of Boston’s Liberty Mutual Group which had been there since 1998.

    So that’s ‘maybe’ 50-75 new jobs, ironically much more than the LNG terminal, so you’d really think more money would be put into the financial services sector.

    The new jobs, hell, let’s give them ALL the benefit of the doubt-their whole work force in New Brunswick comprises less than 1% of the company’s 30,000 employees, even taking into account “We intend to increase hiring by 25 per cent over the course of the next five years.” (VP Richard Evans) Which would be at most 25 new jobs.

    That’s 150 people.

    So let’s look at it from the ‘Marxist’ point of view (as if that’s an insult!:)

    Their operations of providing at most 150 jobs (we don’t know at what rate but we’ll assume they are decent) for the 18,000 policyholders in New Brunswick brings them approximately $18 million per year (from their numbers).

    That’s 18 million that is going to their head offices in Kitchener, Ontario. With public insurance that would provide 360 jobs at $50,000 apiece-and that’s just from ONE company. So, three times the jobs for an equal investmert-or perhaps lower premiums! Hmmmmm

    Next, here’s an Ipsos Reid survey, to be fair it was done for a credit union, if you’re the kind of person who disbelieves all surveys according to who pays for them then I suggest you simply do a search on ‘banking fees’ and see what pops up. I’ve certainly seen LOTS of evidence people are not happy with their banking system, but that’s something that can be debated:

    VANCOUVER, Dec. 30 /CNW/ – You may be paying on average as much as $258 a year ($21.50 a month) in banking fees on your main chequing account, according to the results of a new nationwide Ipsos-Reid survey. Several groups are not happy about it. The poll was carried out by Ipsos-Reid on behalf of Coast Capital Savings and interviewed 800 Canadians, between the ages of 19 and 55, from coast to coast in November 2004. Its findings can be projected to this age group within a margin of error of plus or minus 3.5 per cent, nineteen times out of twenty.

    Some key findings about Canadians in this age group:

    – A sizeable minority (40 per cent) of people who hold chequing accounts think their main chequing account service fees are unfair.

    – Men are significantly more likely than women to think that their chequing account service fees are unfair (47 per cent of men compared to 32 per cent of women).

    – Credit union members are significantly less likely than bank customers to feel that the service fees they pay on their main chequing account are unfair (29 per cent of credit union members compared to 43 per cent of bank customers).

    Lawrie Ferguson, Coast Capital Savings Senior Vice President, Marketing, said while the public can take steps to minimize service fees (see tips below), the survey results send an important message to financial institutions. “These findings indicate that while the whole issue of banking service fees may have disappeared from the headlines in recent years, it certainly hasn’t gone away for the average consumer,” Ferguson said. “It’s clear that many people still feel the financial services industry is charging them more than it should for the right to access their own money.”

    Lord, sometimes its just TOO easy.