Canadian bank retains the grand prix for best overall investor relations at the IR Magazine Canada Awards 2012
TD Bank went one better than last year at yesterday’s IR Magazine Canada Awards 2012, picking up six trophies in total, including the coveted grand prix for best overall investor relations by a large cap.
The Canadian bank also picked up best IR by a CEO (large cap), best IR by a CFO (large cap), best investor meetings, best corporate governance and best IR in the financials sector, to add to the five awards it scooped in 2011.
Winners and nominees open the Toronto Stock Exchange the morning after the awards
The winners and nominees were determined through a survey of more than 250 investors and analysts from the Canadian market conducted by IR Insight, the research arm of IR magazine.
‘TD Bank gives a clear consistent message and the IR is thorough, with no weak links,’ comments one sell-side respondent to the survey.
Canadian research out now
The research that underpins the awards is now available in the Investor Perception Study, Canada 2012, which features extensive profiles of the winning companies and their IR programs.
Other big winners on the night include CN, which picked up the prestigious award for best IR officer (large cap) for Bob Noorigian and best IR in the transport sector, and Agnico-Eagle Mines, which claimed best technology and best crisis management for its handling of the closure of its Goldex mine last October.
Management backing
TD Bank’s success has been underpinned by the commitment to investor relations from its senior management, which, in 2006, took the decision to make IR a competitive advantage for the bank.
That helps explain why TD Bank’s CEO (Ed Clark) and CFO (Colleen Johnston) were both lauded by the investment community at yesterday’s awards.
‘At TD, investor relations activities are a key priority for me and my leadership team,’ Clark said in a video acceptance speech last night.
‘A day doesn't go by without me telling the TD story, to our shareholders, to potential investors, to the public and to our employees.’
Noorigian’s return
The honor for Noorigian marks his comeback after picking up the award for best IRO at a mega cap in 2006, 2008 and 2009.
A veteran of CN and the investor relations industry, Noorigian has spent much of the last year introducing CN’s new management team to investors and analyst.
One member of the buy side who voted for Noorigian says: ‘He follows up on meetings and asks us if we have any concerns. He’s the only IRO I know to do this – long may he reign!’
Other grand prix
The grand prix for best overall IR by a mid cap went to ARC Resources for the second year in a row, in another strong performance from the IR team lead by David Carey.
The small-cap grand prix, meanwhile, went to Cascades, where the head of IR Didier Filion also picked up the award for best IRO at a small cap.
‘Didier Filion is an outstanding IRO – he is like a bandmaster conducting the show,’ says one sell-side analyst in IR magazine’s awards research.
View a full list of winners.
