In a speech at the firm’s annual meeting, National Bank CEO Laurent Ferreira railed against overregulation and called for a “complete overhaul” of Canada’s economic and industrial policies. Ferreira highlighted impact assessments on energy and natural resource projects as “a major roadblock” to investment. (Bloomberg)
Talking point: Ferreira made the comments just a few days before Canadians are set to vote in the federal election, which has focused on how the country should respond to U.S. President Donald Trump’s trade war and threats to the country’s sovereignty. Montreal-based National Bank held its annual meeting in Calgary, highlighting its ties to Alberta following the acquisition of Canadian Western Bank in February. National Bank has provided $10 billion in financing to renewable energy projects, 90 per cent of which has gone to the U.S., Ferreira said. Both Liberal Leader Mark Carney and Conservative Leader Pierre Poilievre have pledged to speed up approvals for resource projects.