The Board of Directors of Yorkton, announced that Rodney Sim has been elected chairman and chief executive officer and that Alan Schwartz, Q.C., has been elected as vice-chairman and general counsel of Yorkton Securities Inc., and its parent, Yorkton Financial Inc. Both appointments are subject to regulatory approval.

Mr. Sim, 51, a native of Ottawa has been Yorkton’s president since April 1999. He has worked in the Canadian investment banking industry for nearly 3O years. Sim was Executive vice president of Midland Walwyn Capital from 1991 to 1998 and was chairman and CEO of Capital Group Securities Ltd. from 1984 to 1991.

“I am honoured that my partners have entrusted me with the responsibility of providing leadership to our firm. We are financially strong. We have a great franchise, a talented management team and we are the clear leader in our areas of focus,” said Sim.

Mr. Schwartz, 56, born in Montreal, has been president of Yorkton Proprietary Asset Management since April 2000. He has worked in the investment business since 1989. Prior to joining Yorkton, Schwartz served as vice-chairman of Gluskin, Sheff and Associates, a Toronto-based investment management firm. From 1973 to 1989 he was a partner in a Toronto law firm.

Sim added, “I am very pleased that Alan Schwartz, who has provided strong leadership and wise counsel in the resolution of our regulatory issues, is assuming new and important responsibilities. Among many other things, in his new position Alan will be responsible for overseeing our legal, regulatory and compliance areas.”

“I am grateful to my partners for their confidence and strong support. I look forward to working with Rod as we and our partners vigorously pursue Yorkton’s strategic vision and seek to enhance our leadership in the technology and biotechnology sectors. At the same time, the firm is deeply committed to ensuring that Yorkton becomes a leader in regulatory compliance,” said Schwartz.

Mr. Schwartz noted that “the Yorkton team is extremely confident that we will be able to build on our proven competence and leadership in the areas on which we focus. We wish to thank every one of our Constituents for their support of our firm. We look forward to earning their continued trust and confidence.”