Former National Bank CEO Louis Vachon will join the Harmony developer's board
A leading Canadian provider of portfolio management solutions for the wealth management industry has secured a new majority investment – and a former National Bank CEO on its board.
Infinite Investment Systems’ new backer is financial services focused investment firm J.C. Flowers and its investment – the figure was not revealed – will help propel Infinite’s offerings in Canada and beyond.
The firm was founded more than 20 years ago by developer Ali Zahedi, who spoke with WP’s David Kitai last year about the his personal journey and that of the business that was named among the Wealth Professional Top 25 Wealth Tech Providers of 2024. It is best known for its flagship portfolio management solution, Harmony.
"We are very committed to our clients and to this industry, and we have a grand vision for Infinite's future,” said Zahedi. “This partnership with J.C. Flowers represents more than just financing. It represents a partnership with great people of extremely high standards.”
J.C. Flowers’ operating partner is Louis Vachon, former CEO at National Bank of Canada who stepped down after 14 years in charge in 2021. He will join the board of Infinite, along with Eric Rahe, managing director and co-president of J.C. Flowers, to help guide the firm’s next growth phase.
“Louis is an iconic figure, and his guidance will be invaluable. Eric is an amazing business leader who can really help us elevate Infinite. It will be an honor to have them on our board. I'm ever more confident that the partnership with J.C. Flowers will provide us with the perfect backing to achieve great goals and serve our industry,” added Zahedi.
J.C. Flowers was founded in 1998 and has invested more than $18 billion of capital, including co-investment, in 67 portfolio companies in 18 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management.
