A new chief economist for RBC leads off our regular summary of notable moves across the financial industry.

  • Frances Donald — a notable industry veteran and economist, and recipient of a Women’s Executive Network’s Most Powerful Women award in 2019 — will move next month to Royal Bank of Canada from Manulife Investment Management. She’s taking on the role of senior vice-president and chief economist at RBC, starting Aug. 26, and will report to John Stackhouse who’s senior vice-president, office of the CEO. In an internal memo provided to Investment Executive, Stackhouse characterized Donald as “highly sought after by clients, government leaders, policymakers, and media in the U.S. and Canada for her deep insights on the macro-economic environment and financial markets in North America.” He also praised her “ability to unpack complex issues and challenges in engaging and accessible ways […].” Donald will use these skills to help the bank leverage data, technology and AI, he added, with a focus on uncovering widespread, long-term themes tied to economic developments across North America. Donald spent the last eight years working with Manulife, most recently as senior managing director, chief economist and strategist. Her industry tenure includes positions with the Bank of Canada, Deloitte and Scotiabank. She comes to RBC following former chief economist Craig Wright‘s retirement earlier this year. As for Manulife, the company said in an emailed statement that Donald’s “years of counsel” have been appreciated. Her colleagues will report to Nate Thooft, chief investment officer, multi asset solutions, following her departure and as the company reviews its “structure and resourcing.”
  • A growing advisory team has partnered with Manulife Wealth Inc. Markham, Ont.-based practice Clients’ Edge Wealth includes senior investment advisor John Gleeson, investment advisor Nicole Loveman, and investment advisor Robert New. The latest member of the group is New, who left Fidelity Investments after 10 years to join the practice in 2023. New said in a post online that Clients’ Edge Wealth will “remain independent” but will now have access to Fidelity Clearing Canada technology through Manulife.
  • Portfolio manager Jean Courcelles joined Richardson Wealth in Montreal recently, coming from the Canadian side of international banking and financial company Mirabaud Group. He started as a senior analyst more than 20 years ago and has worked across the industry with organizations such as IG Wealth Management, Desjardins and Manulife.

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.