Founded | 1984 |
---|---|
Founder | |
Defunct | 1988 |
Fate | Merged with Western & Pacific Bank |
Successor | Canadian Western Bank |
Headquarters | Edmonton, Alberta , |
The Bank of Alberta was a bank based in Edmonton, Alberta, Canada from 1984 to 1988. [1] It was formed during the early 1980s recession in Canada, a challenging economic environment that pushed many competitors to rein in their activities in key western markets. [1] As a result, the bank ultimately had a significant impact on the evolution of modern banking in Western Canada. [2]
When the bank commenced operations in 1984 it was led by Canadian Business Hall of Fame member Dr. Charles Allard [1] [3] and Eugene Pechet, [1] [3] [4] starting with three employees working out of a boardroom located in one of Pechet's hotels in Edmonton, Alberta. [4] The Government of Alberta supported the newly formed Bank of Alberta by investing in 5% of its shares. [5]
In 1988, the Bank of Alberta merged with Western & Pacific Bank to form Canadian Western Bank (CWB). [1]
Alberta is one of the thirteen provinces and territories of Canada. It is a part of Western Canada and is one of the three prairie provinces. Alberta borders British Columbia to the west, Saskatchewan to the east, the Northwest Territories to the north, and the U.S. state of Montana to the south. It is one of the only two landlocked provinces in Canada, with Saskatchewan being the other. The eastern part of the province is occupied by the Great Plains, while the western part borders the Rocky Mountains. The province has a predominantly continental climate but experiences quick temperature changes due to air aridity. Seasonal temperature swings are less pronounced in western Alberta due to occasional Chinook winds.
The economy of Alberta is the sum of all economic activity in Alberta, Canada's fourth largest province by population. Alberta's GDP in 2018 was CDN$338.2 billion.
Edmonton is the capital city of the Canadian province of Alberta. Edmonton is situated on the North Saskatchewan River and is the centre of the Edmonton Metropolitan Region, which is surrounded by Alberta's central region. The city anchors the northern end of what Statistics Canada defines as the "Calgary–Edmonton Corridor", a region spanning between Edmonton and the city of Calgary, Alberta's largest city, which includes the many smaller municipalities between the two.
The University of Alberta is a public research university located in Edmonton, Alberta, Canada. It was founded in 1908 by Alexander Cameron Rutherford, the first premier of Alberta, and Henry Marshall Tory, the university's first president. It was enabled through the Post-secondary Learning Act. The university is considered a "comprehensive academic and research university" (CARU), which means that it offers a range of academic and professional programs that generally lead to undergraduate and graduate level credentials.
The politics of Alberta are centred on a provincial government resembling that of the other Canadian provinces, namely a constitutional monarchy and parliamentary democracy. The capital of the province is Edmonton, where the provincial Legislative Building is located.
Northlands Coliseum is a defunct indoor arena in Edmonton, Alberta, on the north side of Northlands. It was used for sports events and concerts, and was home to the Edmonton Oilers of the World Hockey Association (WHA) and National Hockey League (NHL), and the Edmonton Oil Kings of the Western Hockey League (WHL). The arena opened in 1974, and was later known as Edmonton Coliseum, Skyreach Centre, and Rexall Place, before returning to the Northlands Coliseum name in summer 2016.
Canadian Western Bank, also operating as CWB Financial Group, is a Canadian bank based in Edmonton, Alberta. The bank serves clients both in Western Canada and in other provinces. It was announced on June 11, 2024 that it would be acquired by National Bank of Canada in 2025.
HSBC Bank Canada, formerly the Hongkong Bank of Canada (HBC), was a British-Canadian chartered bank and the former Canadian subsidiary of British multinational banking and financial services company HSBC.
ATB Financial is a financial institution and Crown corporation wholly owned by the province of Alberta, the only province in Canada with such a financial institution under its exclusive ownership.
The province of Alberta, Canada, has a history and prehistory stretching back thousands of years. The ancestors of today's First Nations in Alberta arrived in the area by at least 10,000 BC according to the Bering land bridge theory. Southerly tribes, the Plain Indians, such as the Blackfoot, Blood, and Peigans eventually adapted to seminomadic plains bison hunting, originally without the aid of horses, but later with horses that Europeans had introduced.
Alberta separatism comprises a series of 20th- and 21st-century movements advocating the secession of the province of Alberta from Canada, either by joining the United States, forming an independent nation or by creating a new union with one or more of Canada's western provinces. The main issues driving separatist sentiment have been the perceived power disparity relative to Ottawa and other provinces, historical grievances with the federal government dating back to the unrealized Province of Buffalo, a sense of distinctiveness with regards to Alberta's unique cultural and political identity, and Canadian fiscal policy, particularly as it pertains to the energy industry.
Beaumont is a city adjacent to Leduc County within the Edmonton Metropolitan Region of Alberta, Canada. It is at the intersection of Highway 625 and Highway 814, adjacent to the City of Edmonton and 6.0 kilometres (3.7 mi) northeast of the City of Leduc. The Nisku Industrial Park and the Edmonton International Airport are 4.0 kilometres (2.5 mi) to the west and 8.0 kilometres (5.0 mi) to the southwest respectively.
The Battle of Alberta is a term applied to the intense rivalry between the Canadian cities of Calgary, the province's most populous city, and Edmonton, the capital of the province of Alberta. Most often it is used to describe sporting events between the two cities, although this is not exclusive as the rivalry predates organized sports in Alberta.
The Ministry of Energy is a Cabinet-level agency of the government of the Canadian province of Alberta responsible for coordinating policy relating to the development of mineral and energy resources. It is also responsible for assessing and collecting non-renewable resource (NRR) royalties, freehold mineral taxes, rentals, and bonuses. The Alberta Petroleum Marketing Commission, which is fully integrated with the Department of Energy within the ministry, and fully funded by the Crown, accepts delivery of the Crown's royalty share of conventional crude oil and sells it at the current market value. The current ministry was formed in 1986, but ministries with other names dealing with energy resources go back to the Ministry of Lands and Mines in 1930.
The Alberta Heritage Savings Trust Fund(HSTF) is a sovereign wealth fund established in 1976 by the Government of Alberta under then-Premier Peter Lougheed. The Heritage Savings Trust Fund was created with three objectives: "to save for the future, to strengthen or diversify the economy, and to improve the quality of life of Albertans." The operations of the Heritage Savings Trust Fund are subject to the Alberta Heritage Savings Trust Fund Act and with the goal of providing "prudent stewardship of the savings from Alberta's non-renewable resources by providing the greatest financial returns on those savings for current and future generations of Albertans." Between 1976 and 1983 the Government of Alberta deposited a portion of oil revenue into the fund. The Heritage Savings Trust Fund used oil revenues to invest for the long term in such areas as health care, education and research and as a way of ensuring that the development of non-renewable resources would be of long-term benefit to Alberta. The strategy and goals of the fund have changed through successive provincial governments which moved away from direct investments in Alberta to a diversified approach, which now includes stocks, bonds, real estate and other ventures.
Calgary is the largest city in the Canadian province of Alberta. It is the largest metro area within the three prairie provinces. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806, making it the third-largest city and fifth-largest metropolitan area in Canada.
The Faculty of Medicine and Dentistry at University of Alberta is located in Edmonton, Alberta, Canada. Established in 1913, it is one of the oldest medical schools in Western Canada and is composed of 21 departments, two stand-alone divisions, 9 research groups, and 24 research centers and institutes. Educational, clinical and research activities are conducted in 29 buildings on or near the University of Alberta north campus.
Eugene Pechet was a Canadian hotelier and banker. He bought his first hotel in 1942 and went on to build and operate 25 hotels throughout Western Canada and the United States.
Howard Pechet is a Canadian hotelier and producer. Pechet graduated from Washington State University with a Master of Arts degree. He is non-executive producer of Stage West and chairman of Stagewest Hospitality, which includes several hotels, dinner theatres and casinos. Pechet started Stage West in Edmonton, Alberta. He expanded this to Calgary and Winnipeg and then to the Toronto region, with the Mississauga theatre on Dixie Road, which opened in 1986. The first show in Mississauga was a small-scale comedy, Social Security by Andrew Bergman. Pechet has produced almost 1,000 plays and has co-written 14 musical revues.
Josephine Pon is a Canadian politician who was elected in the 2019 Alberta general election to represent the electoral district of Calgary-Beddington in the 30th Alberta Legislature. She is a member of the United Conservative Party. She was a member of the Standing Committee on the Alberta Heritage Savings Trust Fund and the Special Standing Committee on Members' Services. She previously was Alberta's Minister of Seniors and Housing from 2019 to 2022.