Toronto-based CIBC Global Asset Management Inc. (CIBC GAM) Friday announced two senior appointments to further strengthen its portfolio management team.
Suzann Pennington, head of Canadian equities, is promoted to managing director, chief investment officer (CIO), and Stephen Carlin, joins the firm as vice president, senior portfolio manager, Canadian equities.
Pennington will now oversee all of CIBC GAM’s portfolio management and research efforts. She will be focused on managing the firm’s investment teams across all asset classes. She will remain head of equities and continue to manage the Canadian all-cap mandate.
Pennington has enjoyed a distinguished career that spans over 25 years. She has demonstrated strong leadership and has a long track record of delivering superior investment performance in her mandates.
Carlin brings over 22 years of experience in equity investment management. Prior to joining CIBC, he was senior vice president, head of equities at Toronto-based Aegon Capital Management Inc. where he managed Canadian, balanced, income and dividend mandates.
“The success of our asset management business is driven by the quality of our investment management team,” said Steve Geist, president and CEO, CIBC Global Asset Management, in a release.
“These appointments further strengthen our ability to deliver superior investment results and manage risk for our clients.”
CIBC Asset Management Inc., the asset management division of CIBC (TSX:CIBC), is responsible for the CIBC and Renaissance Investments families of mutual funds, Imperial Pools, Frontiers Pools and the CIBC family of managed portfolio solutions – Axiom Portfolios, CIBC Managed Portfolio Services and CIBC Personal Portfolio Services. CIBC Asset Management manages more than $80 billion in assets.