Dynamic Funds veteran takes executive role
Following Stephan Bourbonnais' move to the wealth management leadership position with Quebec City-based iA Financial Group, Adam Elliott has been named president of iA Private Wealth. He succeeded Andrew Dalglish as president and CEO of iA Clarington Investments most recently.
“I am a passionate believer and advocate in the value of independent advice provided by entrepreneurial financial advisors,” Elliott said, reiterating Bourbonnais, who stated in January and February that iA Financial is focused on providing flexible service solutions for its independent advisors.
Elliot’s experience in the sector spans many decades and includes 18 years in leadership positions with Dynamic Funds, a Toronto-based company. In 2000, he began working with several of these advisers under the DundeeWealth Inc. brand, and he remarked that those connections had persisted through numerous mergers.
“After 23 years focused on the asset management industry, I am very excited to lead a team of long-term colleagues and friends among the advisors and employees at iA Private Wealth,” Elliott said in a LinkedIn post.
While waiting for a replacement, Elliott will continue to serve as iA Clarington Investments' interim president and CEO. He will collaborate closely with Bourbonnais on iA Financial's overarching united wealth strategy during this time.
In a mid-February email, the company acknowledged that iA Financial Group had $196.2 billion in assets under management and administration at the time, including its dealers. Diluted profits per share for the fourth quarter that ended on December 31 increased 12% year over year to $2.17. $229 million in net income, up 10% from the previous year, was attributable to ordinary stockholders.
Among the other industry developments this week were:
On May 1, Toronto-based Horizons ETFs Management (Canada) Inc. will welcome Rohit Mehta as president and CEO, taking over for acting CEO Jasmit Bhandal.
Charles-Antoine St-Jean, a regional director of the IFRS Foundation of the International Accounting Standards Board, has been named the inaugural chairman of the Canadian Sustainability Standards Board.
The three other initial members include Bindu Dhaliwal, senior vice president of ESG and corporate governance at CIBC, Alyson Slater, managing director and head of sustainable investment in Canada, public markets at Manulife Investment Management, and Raylene Whitford, chair of the Indigenous Advisory Council at TC Energy Ltd., round out the group's initial members.
Gregory Chrispin is on the boards of directors for the Montreal-based alternative asset management PSP Investments, Addenda Capital Inc., and Power Sustainable.
Garry Muriwai's replacement as board head of the Financial Planning Standards Board Ltd., Ana Cláudia Akie Utumi, will serve a two-year term. Since 2018, Utumi has participated on the FPSB board and has more than 30 years of tax experience.
