Industry moves this week

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

• Richard Burjoski became head of Manulife Securities Insurance Inc. on March 20, replacing Brian Woolley. Burjoski has worked in the insurance space for more than 30 years, with his tenure including time spent with firms such as Montreal-based HollisWealth (now part of iA Financial Group), PPI Management Inc. and Raymond James Ltd. in vice-president roles. President and CEO of Manulife Securities, Richard McIntyre, said in a statement to IE that Burjoski will “bring new perspectives, ideas and energy to this business.”
• Paul Allan, vice-president of private wealth with Mackenzie Investments, is retiring effective April 30. No replacement has been chosen so far, the firm said in an emailed statement. However, director Paula Lopes will continue in her role which includes leading the private wealth account management team. Allan’s career spans more than 30 years with Mackenzie Investments. Lopes has been with the firm since 2005.
• Jacynthe Côté was appointed chair of the board for Royal Bank of Canada this week, effective upon her re-election at the bank’s meeting of shareholders. She will succeed Kathleen Taylor, who has served as the board’s leader since 2014. Côté is wrapping up her position as chair of the board for Hydro‑Québec, a role she’s held for nearly five years and which will end in May.
• National Bank of Canada plans to name Robert Paré as chair of its board, subject to re-election at its annual meeting on April 21. Paré would succeed Jean Houde who’s led since 2014. Paré has been a member of the board since 2018, a March release said, noting that he has expertise in business law and has held director roles with various major public companies.
• RBC Wealth Management Canada told IE this week that the business expects to sign all or nearly all of the 41 Gluskin Sheff financial advisors and support staff who were offered positions following the announcement that Onex Corp. will wind down the Gluskin Sheff business it purchased in 2019. According to CEO David Agnew, the professionals have been given the choice to join RBC Phillips, Hager & North Investment Counsel Inc., which is also an investment counselling firm, or RBC Dominion Securities.
• Paul Beaudry plans to leave his deputy governor position with the Bank of Canada at the end of July, aiming to return to his academic position at the University of British Columbia. Beaudry started with the BoC in February 2019, and his responsibilities have included overseeing the central bank’s analysis of international economic developments in support of monetary policy decisions.

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.