Analyst
BMO Capital Markets
Equibles does not estimate personal net worth.
Etienne Ricard is recorded as Analyst at BMO Capital Markets. Etienne Ricard has spoken on 5 earnings calls across 4 companies, most recently for BROOKFIELD Corp on August 13, 2026. Those appearances were for Sprott Inc. (SII), BROOKFIELD Corp (BN), Loblaw Companies Limited and Victory Capital Holdings, Inc. (VCTR). The companies whose calls Etienne Ricard spoke on are classified in the Financial Services and Consumer Defensive sectors.
“We've seen quite an increase in asset sales in recent years, while the carried interest realizations have not picked up as meaningfully. So, Nick, I'm wondering, what are your expectations for asset sales over the next year, and why should it translate into better carry realization?”
“So to follow up on the transaction with EQB, I recognize it's still early in the process. How meaningful is the potential for additional PC optimum point issuances?”
“So, the improvement in margins this quarter was a highlight for me. Given your ETF platform still represents a relatively small but growing percentage of your assets, how should we think about incremental margins on your ETFs relative to the trusts?”
“Just to circle back on operating margins, I'm curious to hear relative to the 49% target that you have, in what areas of the organization have you seen better than expected operating leverage?”
BMO Capital Markets
Analyst
Transcript header (unverified)
SII
Asset Management · Financial Services
Asset Management · Financial Services
Loblaw Companies Limited
Grocery Stores · Consumer Defensive
Asset Management · Financial Services
Q4 2025 Earnings Release Conference Call
Loblaw Companies Limited
