Industry moves this week

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

• Christopher Bean was named managing director and head of corporate development with Toronto-based alternative investment management firm Ninepoint Partners LP. He’ll work on strategic initiatives that drive growth, a release said. Bean has more than two decades of industry experience. He was most recently managing director, financial institutions group, and head of investment funds with RBC Capital Markets, the release said.
• Another private markets investment management firm, Hamilton Lane, has been adding new leaders in Canada. The Pennsylvania-based firm most recently appointed Rob Reed — who’s been with the firm for more than 10 years — as principal on its fund investment team, overseeing client relationships and primary fund investment diligence. The firm’s Canadian team has relocated to a larger office in Toronto’s financial district, a release said, five years after it first opened its doors here. Mike Woollatt, head of Canada with the global firm, said in a release that interest from both institutional and private wealth investors is driving growth, with the firm managing more than $27.5 billion domestically in assets under management and supervision as of Dec. 31, 2023.
• Katherine Gibson was appointed interim chief financial officer with Royal Bank of Canada (RBC) on April 5, succeeding Nadine Ahn whose employment was terminated effective immediately that day. A release from the bank cited allegations involving Ahn that prompted an internal review and the engagement of external legal counsel. An investigation revealed evidence that Ahn “was in an undisclosed close personal relationship with another employee which led to preferential treatment of the employee including promotion and compensation increases,” said RBC in its release, with the bank adding that both employees had been terminated. Gibson has been with the bank for more than 20 years and will hold the interim title while the search for a replacement is conducted. The release clarified that the misconduct discovered did not affect RBC’s previously issued financial statements, or its strategy and financial or business performance.
• Kelsey Gunderson, executive vice-president and head of capital markets with Laurentian Bank of Canada, will leave the bank on April 12. He’s decided to “focus on personal interests prior to establishing the next path in his professional journey,” a release said. Gunderson added in a LinkedIn post that he plans to spend time with family and friends. He spent five years working as a leader with the institution, as part of his 26-year banking industry career. Brian Doyle, chief financial officer of capital markets, will become acting head of capital markets plus acting president and CEO of Laurentian Bank Securities Inc., reporting to executive vice-president and CFO Yvan Deschamps.
• Steven Ranson will retire from his role as president and CEO of HomeEquity Bank at the end of June, following a 27-year career with the institution. In his place, the board of directors has named Katherine Dudtschak as his successor and the bank’s next leader. She was most recently an executive vice-president with RBC, a role she left in 2022. Dudtschak will join the company on May 1, first taking the position of president, and assuming the CEO role as well after June 30.

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.