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Email this5:37 am
December 20, 2019
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HermanH said
I just used https://www.removepaywall.com/ to view both articles.
They have a free chrome extension which works great
3:37 pm
October 27, 2020
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With the acquisition of Wealth One Bank of Canada by the Canadian Consortium of Investors Led by Globalive, can one now assume the bank no longer has links to the Chinese government?
4:25 pm
January 12, 2019
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.
A Justified Concern ⬆️ ... and it was one of mine, as well❗
It is my understanding that the Communist Dictatorship Operatives were Purged out of the W1BoC, well before it's sale. Unfortunately, I have no conclusive evidence to support that.
Perhaps someone else here does ... Yes❓
- Dean
" Live Long, Healthy ... And Prosper! "
9:31 am
April 6, 2013
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There may not have been any operatives to purge in the first place.
The founders of the bank sold their shares in the bank to a special purpose vehicle (SPV). In return, the founders received a 35% stake in the SPV with no control. The consortium and Globalive hold 65% of the SPV with control by Globalive.
This is from the June 18, 2025 Globe & Mail article Globalive says Ottawa has approved its bid for Wealth One Bank:
A consortium of Canadian investors led by Globalive Corp. says it has secured the federal government’s approval to acquire Toronto-based Wealth One Bank of Canada, two years after Ottawa ordered three of its founding investors to divest their shares in the bank.
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Globalive will be responsible for governance over the SPV, while other investors will be limited partners with only an economic interest in the company.
…
Globalive said Tuesday the acquisition is now valued at $58-million for a 65-per-cent stake held by Globalive and the consortium, with legacy investors holding the remainder.
…
10:09 am
January 10, 2017
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https://www.wealthonebankofcanada.com/News/News+Article+Template+%2813.5.x%29
They still offer services in Mandarin and Cantonese - likely still the majority of their clients. Can we really say none of their employees are under the influence of the Chinese government?
10:29 am
September 11, 2013
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No we can't, just like we can't say any employees in any company couldn't be in cahoots with criminals, drug cartels, enemy foreign states, terrorists, etc.
So if that's an issue for you move on to another institution that suits you.
9:54 am
January 10, 2017
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Sure, any company can have rogue employees. However this bank has very recently had major problems due to subversive China links. I have only heard that the Chinese founders/owners were forced to step down from all bank positions and sell their controlling stake in the bank. Nothing has been said about higher level managers/employees (who were enabling the subversion) at the bank leaving. This should leave a lingering concern for anyone dealing with this bank.
12:45 pm
September 11, 2013
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Please provide links to the proof for your comment that high level managers were "enabling........subversion", I'd be interested to read.
Far as I know there are no regulators, etc that have shut down this bank, it continues today to operate as a legal bank in Canada.
3:52 pm
January 11, 2020
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I got a few term deposits through wealth one and for an online only bank for me got responses within 24 hours and exceptional customer service. I don’t recall what for but TD Bank got pinched with $1 billion settlement for bad behaviour…. I think it was a W5 episode with plenty of the Big Banks gave terrible advice to customers that benefitted the billion dollar bank and hurt the little guy as far as I’m concerned that’s blatant fraud . All this debate about how bad wealth one is cause there’s some Chinese people involved. Give me a break.
If you get a good rate and you’re under the CDIC coverages bank away people that’s my vote.
6:40 am
November 18, 2017
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I didn't mind the Chinese services; I found W1's Richmond BC rep efficient and likeable. But the service line did not back up his words so I left after my GIC matured.
TD isn't the only bank, Canadian or 'murrikan, to have adopted aggressive targets and sneaky junk fees in recent times. The big banks give themselves awards for "creative" fee creation.
Ah, good old ING's "No fees, not ever" days were so fiiine!
Sometime about a year ago, VanCity formally dropped the pressure sales policy for staff, who had protested along with clients.
RetirEd
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