Banco Popular de Puerto Rico

A “distribution bump” from the commission-free trading trend that took hold late last year may be behind the surge, analysts say.

The bank’s home city of Toronto boasts a population that is more than 50% foreign-born, but there is little diversity in the upper echelons of its financial firms.

The firm announced plans in March to acquire $200 million of its stock and has been in the market on average once every three trading days since.

Its rivals have been building out their own insurance arms in recent years and have brought on executives who can help them attract more business.

Affluent investors are concerned about transparency, performance and value, according to a new report by Capgemini.

Mass exodus from the market has forced managers to dump securities to raise cash, sending prices tumbling the most in at least four decades.

The move would potentially set a bleak precedent for an industry that’s been resisting mass layoffs as the coronavirus pandemic worsens.

Over the past 15 years, Black participation in the industry has stalled at a mere 8% — a figure that typically dwindles heading up the leadership ranks.

Funds that follow a similar approach lost 5.1% over the period, according to Hedge Fund Research.

Almost 90% of smaller fund managers would no longer have to report their investments and their firms would save $136 million a year, the agency estimates.