Churchill Investments Group

Churchill Investments Group LLC
Private
Industry Energy, Investments
Founded 1986 (1986)
Headquarters Montreal, Quebec, Canada
Number of locations
 Montreal, Toronto, Los Angeles, Las Vegas, New York City, Omaha, Nebraska, Hong Kong
Area served
 Worldwide
Key people
 Sam Weinstein (CEO)
Michael Borst (CFO)
Charles Mead (Chairman)
Products Mortgages, Trading, Insurance, Financial Management, Investment Banking, Venture Capital, Real Estate Development
Revenue Increase US$ 878.660 million (2011)[1]
Increase US$ 036.749 million (2011)[1]
Increase US$ 028.976 million (2011)[1]
Total assets Increase US$ 002.065 billion (2011)[1]
Total equity Increase US$ 283.573 million (2011)[1]
Number of employees
 7,300 (2012)
Subsidiaries Churchill Mortgages, Churchill Insurance Group, Churchill Development Group, Cannix Energy Corporation, By2Clicks Online

Churchill Investments Group is a Canadian energy, commodities, equities, and services company based in Montreal with other offices worldwide. The group comprises many specialized international offices and subsidiaries. Churchill Investments Group LLC has more than seven thousand employees around North America and participates in markets around the world, including Canada, the United States, the UK, Australia, New Zealand, Asia, and the Middle East. Churchill Investments Group has offices around the world including; Montreal, Toronto, Los Angeles, Las Vegas, New York City, Omaha, Nebraska and Hong Kong.[2]

The Churchill Investments Group brand is used by the investment banking and the financial management divisions. The companies commodities and equities trading operations and venture capital operations are also under the Churchill Investments Group brand, the mortgage, insurance, and real estate development divisions are managed under a different brand. The only subsidiaries which kept the same name after being acquired by Churchill Investments Group was Cannix Energy Corporation and By2Clicks Online.

Churchill Investments Group is one of the largest commodity trading companies in North America with substantial operations. According to Bloomberg, as of October 2011 Churchill Investments Group surpassed Canadian Western Bank one of the largest banks in Canada by assets. Churchill Investments Group LLC employs approximately 7,300 staff.

History

Churchill Investments Group, also known as CIG Investments, was launched in 1986 as an energy trading and communications company. Since then, CIG Investments has branched out into mortgages, insurance, investment banking, venture capital, real estate development loans, and investment advisory services. Churchill Investments Group opened its first American location in Los Angeles, the second location which followed was its Las Vegas executive office. In 2008 CIG's Las Vegas branch began offering home and auto insurance.

Structure

Churchill Investments Group LLC owns several subsidiaries which have been renamed to fit under the Churchill Investments Group brand name. These subsidiaries include; Churchill Mortgages, Churchill Insurance Group, and Churchill Development Group. The trading operations, investment banking and financial management operations fit under the Churchill Investments Group brand name.

Churchill Mortgages

The company, known previously as TTL Mortgage International, was founded on October 17, 1968.

In September 1990, Churchill Investments Group announced to buy out TTL Mortgage International and relocate its headquarters to Los Angeles. These plans were suspended in January 1991, when the company announced its Los Angeles branch was moving to its new offices at 811 Wilshire Blvd, Los Angeles.[3]

Churchill Insurance Group

On December 21, 1999, Churchill Investments Group bought all of the insurance operations of Ross & White Insurance Company. Through the acquisition, Churchill Investments Group now owns the former operations and accounts of Ross & White. The company announced plans to complete the rebranding of Ross & White branches to Churchill Investments Group by late 2000. Since 2001 all Ross & White branches and offices have been rebranded Churchill Insurance Group.

Chief executive Jacob White was flown in from Seattle to New York on the day the acquisition was completed, and eventually received a $5.5 million sign-on bonus and cash severance of $8.1 million after signing up as Churchill Insurance Group's CEO.[3]

Churchill Development Group

In 2003, Churchill Investments Group bought Las Vegas based real estate development company Nevada Realty Developers Corporation, bringing on current chairman Jonathan Dimon as President and COO and designating him as CEO Gregory Harrilson's successor. Dimon's pay pegged at 90% of Harrilson's. Dimon implemented a cost-cutting strategy and replaced former Churchill Investments Group executives in key positions with Nevada Realty Developers Corporation executives, many of whom had been with Dimon since the beginning of his career at Nevada Realty Developers Corporation. Dimon became CEO in January 2006 and Chairman in December 2006. When Nevada Realty Developers Corporation was bought out by Churchill Investments Group then CEO Gregory Harrilson was informed to change the name of the company to Churchill Development Group, this allowed the real estate development giant to fit under Churchill's massive branding web, and allowed the company to issue real estate development loans to other development companies for Churchill Investments Group LLC.[3]

Cannix Energy Corporation

Cannix Energy Corporation is an energy and natural gas corporation based in Omaha, Nebraska. The company specializes in the energy industry by investing or developing energy power plants around the world. The company also specializes in the purchase and resale of energy treating it as a commodity. Founded in September 1971 Cannix Energy grew into one of the most profitable corporations based out of Nebraska, the company employs over 500 employees which specialize in the energy sector. In March 2005, Churchill Investments Group acquired Cannix Energy Corporation for $602,070,000.

By2Clicks Online

By2Clicks Online specializes in internet advertising, programming, web development, and is an internet service provider. The company was founded in late 2009 in Montreal, Quebec and was sold in 2011 to Churchill Investments Group. Today By2Clicks Online offers internet services, web development, programming, internet advertising, mobile advertising, and Search Engine Optimization (SEO).

Offices

Although the old Churchill Investments Group headquarters were located at Rene-Levesque in downtown Montreal, the current world headquarters for Churchill Investments Group LLC are located at a new downtown office at 1250 René-Lévesque or also known as La Tour IBM-Marathon.

The bulk of North American operations take place in two office locations one in Toronto and the other in Montreal. The sales and trading operations take place in its Montreal head office (the current offices of IBM). Asset and wealth management groups are located in Toronto, Los Angeles, and Las Vegas. Churchill's subsidiary Cannix Energy Corporation is based in Omaha, Nebraska.

The mortgage operations for Churchill Investments Group is headquartered in New York City at the 1221 Avenue of the Americas.

The Asia Pacific headquarters for Churchill Investments Group is located in Hong Kong.

Services

Churchill Investments Group offers a variety of investment products; financial management, investment banking, investment advisory, mutual funds, stocks, and commodities. In the early 2000s Churchill Investments Group began offering insurance and mortgage services around the world. In 2005 Churchill Investments Group purchased energy giant Cannix Energy Corporation, this put Churchill Investments Group in the energy business.[4]

Membership

Churchill Investments Group is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks.

Partnerships

Churchill Investments Group partners with MFC Investments, Zytrex Investments, GoldStone Investments, and TD Canada Trust.[5]

Awards

Churchill Investments Group claims to have won several awards for business and customer satisfaction, including the Imagine Canada Award, the HSBC International Business Award, and The Great Canadian Award.[6]

References

  1. 1 2 3 4 5 "2010 Form 10-K, Churchill Investments Group LLC". Yahoo!.
  2. ↑ http://www.by2clicksinvestments.com/
  3. 1 2 3 http://www.by2clicksinvestments.com/acquisitions.php
  4. ↑ http://www.by2clicksinvestments.com/our-services.php
  5. ↑ http://www.by2clicksinvestments.com/our-partners.php
  6. ↑ http://www.by2clicksinvestments.com/about-us.php
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