The Investment Industry Association of Canada (IIAC) announced its hall of fame class for 2018, which features four executives who helped build asset-management businesses — Jean-Guy Desjardins, Monique Leroux, Gord Cheesbrough and Bob Hager — and securities industry veteran Bob Dorrance.
Two of the honourees — Cheesbrough and Hager — are being recognized posthumously. Hager co-founded legendary independent fund manager Phillips, Hager & North (PH&N) and served as the firm’s president and CEO from 1973 to 1987; he also served as chairman from 1987 to 2001. PH&N was ultimately sold to Royal Bank of Canada in 2008 and Hager died of cancer in 2011.
Cheesbrough, who died of cancer in 2010, headed up another venerable independent asset manager, Altamira Investment Services Inc., which was ultimately sold to National Bank of Canada. Prior to joining Altamira, he was president and CEO of ScotiaMcLeod Inc., a firm he came to lead after a career as a bond trader and executive. After Altamira, Cheesbrough also launched his own firm, independent investment bank Blair Franklin Capital Partners.
Jean-Guy Desjardins and Monique Leroux currently work at asset manager Fiera Capital Corp., which Desjardins launched in 2003. He serves as Fiera’s chairman and CEO. Prior to that, he co-founded TAL Global Asset Management Inc., which was ultimately sold to Canadian Imperial Bank of Commerce in 2001. Leroux is a strategic advisor at Fiera and vice chairwoman of Fiera Holdings Inc. She was previously chairwoman, president and CEO of Quebec financial services giant Desjardins Group from 2008 to 2016.
This year’s other honouree, Dorrance, currently heads up wholesale banking at Toronto-Dominion Bank and is chairman, president and CEO of TD Securities Inc. He previously worked at BMO Nesbitt Burns Inc. and was president and CEO of Newcrest Capital Inc., which TD acquired in 2000.
The IIAC’s hall of fame ceremony takes place at a dinner in Toronto on Oct. 25.