Montreal-based Pier 21 Asset Management Inc. on Thursday announced that portfolio subadvisor Carnegie Asset Management will be changing its name to C WorldWide Asset Management effective March 2017.
Carnegie Asset Management, based in Copenhagen, is available in Canada exclusively through Pier 21.
“Pier 21 is dedicated to providing Canadian institutional investors with best-in-class foreign investment management expertise”, says David Star, president & CEO, in a statement, “and will continue to do so with its exclusive C WorldWide Asset Management relationship in Canada.”
For many years, Carnegie Asset Management shared the same name as Stockholm-based Carnegie Investment Bank, and in 2009 the Swedish firm agreed to spin out the asset management group from the investment bank to be an independent company. It is now time to rebrand the asset management company to reflect its independence.
“Despite the name change, the company’s current structure, team of portfolio managers, and investment process remain unchanged,” says Star.