Boardroom discussion
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Each week, we summarize notable moves across the financial industry.

  • Raymond Chun will move into his new role as group president and CEO of TD Bank Group as of Feb. 1, earlier than a previously announced date of April 10. Chun, currently chief operating officer of the bank, is replacing current group president and CEO Bharat Masrani. Masrani will now retire and step down from the board of directors as of Feb. 1, remaining an advisor until July 31 (previously Oct. 31). During the transition, he will provide continuity on the bank’s anti-money laundering (AML) remediation effort. TD also announced changes to its board as part of a new policy to shorten extension terms of directors. Amy Brinkley, Colleen Goggins and Karen Maidment will retire from the board at the 2025 annual shareholders’ meeting on April 10, as will Claude Mongeau and Brian Ferguson, who have decided not to seek extensions to their terms. Board chair Alan MacGibbon announced he will step down from the board by the end of the year. Four new nominees will stand for election to the board in April: Elio Luongo, senior partner and former CEO of KPMG Canada; Natalie Palladitcheff, former CEO of Ivanhoé Cambridge; Frank Pearn, former global chief compliance officer with JP Morgan Chase & Co.; and Paul C. Wirth, former deputy chief financial officer with Morgan Stanley.
  • Jordan McNamee has joined Optimist Fund as a partner. He was previously chief investment officer and portfolio manager at Cambridge Global Asset Management, where he led a team overseeing more than $20 billion in assets under management. Before that, McNamee held senior portfolio management roles at CI Global Asset Management and Fidelity Investments.
  • Andrew Kitchen has been appointed senior managing director and head of Canadian distribution with MFS Investment Management. Kitchen, who brings more than 25 years of experience in the finance industry, will oversee the firm’s institutional sales efforts for the Canadian market. He previously held senior roles with Mercer Canada, Russell Investments and SEI, focused on product development, institutional advisory services and business development.
  • Kevin Johnston has been named head of product strategy for Canada with Franklin Templeton Canada, where he will develop and implement product strategy and investment offerings for advisors, as well as institutional and individual investors in Canada. Johnston previously led the investment product and research team at Capital Group and has more than 20 years of experience in the industry, including stints as vice-president of product management with Invesco Canada and roles at TD Bank Group. Dario Di Napoli has also joined Franklin Templeton as senior vice-president of alternatives distribution, and will help expand its alternatives business in Canada. He has 19 years of industry experience, most recently with Amundi Investment Solutions, where he was senior director, institutional sales. He’s also held roles focused on institutional clients with Unigestion and Manulife Investment Management.
  • Brian Lonsdale has joined Canaccord Genuity Wealth Management as senior wealth advisor and portfolio manager. Lonsdale comes to the firm after nearly 30 years with CIBC Wood Gundy. He joins the Ottawa office, which opened in November 2024. 

In memoriam

  • John “Butch” Bowden, former chairman and president of Advocis predecessor organization LUAC, died on Dec. 14, 2024. He was 94. Bowden is remembered as an advocate for education, for his dedication to clients and involvement as a mentor and volunteer in the wider community. His career spanned more than 65 years.

If you know of other people moves in the financial industry and/or would like us to consider your announcement, email Alisha Hiyate at alisha.h@newcom.ca.