The move continues consolidation in the Canadian banking industry
Edmonton-based firm looks to draw business-owner clients from the big banks
Less diversified, riskier loan portfolios leave banks more vulnerable to downturn
The bank hopes the recent merger of its private wealth firms will allow them to stand out in a crowded marketplace
Combined platform gives clients "a more cohesive, strengthened wealth offering"
Alongside Manulife Securities getting a new president and CEO, other shifts occurred
CWB and Meridian will continue to offer outside products
Integration of T.E. Wealth and Leon Frazer platforms gives bank scale to compete with Big Six, CWB executives say
ATB Financial was also hit by higher loan loss provisions
Frohnsdorf succeeds the retiring Scott Scobie