Canadian banks are poised to expand their dominance in the mutual fund industry by acquiring independent fund companies, according to William Holland, CEO of CI Financial. Speaking at an investor conference in Toronto, Holland noted that while five of the country’s largest banks have been making inroads into the mutual fund industry – now with a 35% share of the business --they may be ready to expand their hold even more by gobbling up smaller firms. Holland suggesting that two can play that game, said his mutual fund company is also seeking out possible takeover targets.
