Executive moves this week

Each week, Investment Executive summarizes notable moves across the financial industry.

• Dennis Stewner will join Wellington-Altus Financial Inc. as executive vice-president, chief operating officer and chief financial officer, succeeding Trevor Coates following his retirement announcement this past fall. Coates will remain active on an interim basis to support the transition in the coming months, but the firm noted in a release that Stewner will help the firm with its “aggressive growth trajectory” going forward. Stewner joins Wellington-Altus from Winnipeg-based insurance benefits company People Corporation, bringing more than 25 years of industry experience across various types of firms. The release added that Gilles Belair, who will work closely with Stewner, has been promoted to senior vice-president of finance.
• The Public Sector Pension Investment Board (PSP Investments) has made two executive announcements: Oliver Duff will be senior vice-president and global head of credit investments, while Simon Marc will be senior vice-president and global head of private equity and strategic partnerships. Duff, who joined the company in 2016 and has worked in leveraged finance at major banks for decades, has been promoted from senior managing director and global head of credit investments. Marc joined the company in 2015, drawing on his decades of experience with private equity, and has been promoted from senior managing director and global head of private equity.
• Samir Sabharwal is the new executive director of the Alberta Securities Commission (ASC), effective April 1. He has worked at the commission since 2005, most recently in the role of general counsel. He succeeds David Linder, who will continue in the role until March 31 after leading the commission for more than 25 years.
• David Scudellari is now senior executive managing director and head of international investment at the Alberta Investment Management Corporation (AIMCo). He comes from PSP Investments, where he worked for seven years, and a release noted that he brings more than 30 years of leveraged finance and capital markets experience. He also will be vice-chair of AIMCo’s investment committee, helping with projects such as international expansion.
• Peta Wales has been named president and CEO, effective Feb. 6, of New Westminster, B.C.-based non-profit Credit Counselling Society. She’ll take over for Scott Hannah, who founded the group in 1996. A release noted that Wales has more than 20 years of leadership experience in financial services, with her tenure including positions with banks, credit unions and the B.C. Financial Services Authority.

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