PEOPLE BRIEFS
New head at HSBC
Vancouver-based HSBC Bank Canada has announced that its new president and CEO will be Paulo Maia, who currently is CEO of the bank’s Australian operations. Maia will be replacing current president and CEO Lindsay Gordon, who is retiring in January. Gordon also will be stepping down as chairman of HSBC Global Asset Management Canada Ltd. Maia has been with HSBC Bank Australia since July 2009. Prior to that, he had held a number of senior positions with HSBC Bank Brazil.
Rooney promoted
Toronto-based Manulife Financial Corp. has appointed Paul Rooney as its chief operating officer and senior vice president. The move will be effective Jan 1, 2013. Rooney most recently served as the general manager of the firm’s Canadian division. Manulife says that Rooney’s successor has been identified and an announcement will be made soon. In Rooney’s new role, he will oversee the firm’s corporate strategy and development, branding and communications, human resources, global resourcing and information services. He will report directly to president and CEO Donald Guloien. Rooney joined Manulife in 1986 and has worn many hats over his career with the firm, which also included holding the position of chief financial officer of the Canadian division.
Jarislowsky steps down
Veteran investor Stephen Jarislowsky announced early last month that he is stepping down as head of Montreal-based Jarislowsky Fraser Ltd., which he founded in 1955. His departure is part of a larger, firmwide reorganization. Jarislowsky will retain his position as chairman of the board of directors, however. Pierre Lapointe is being elevated to the role of chairman of the executive committee. He previously served as the firm’s executive vice president. Jarislowsky’s departure comes in the wake of the resignation of two senior executives. Len Racioppo, the firm’s Toronto-based president and CEO, who was in charge of the firm’s day-to-day management, will be leaving after 25 years of service. Vice president Marc Trottier also is resigning.
Board appointments
Federal Finance Minister Jim Flaherty has announced appointments to the board of directors at both the Bank of Canada and the Canada Pension Plan Investment Board (CPPIB). Phyllis Clark and Derek Key have been appointed to the board of Canada’s central bank, while Jo Mark Zurel will join the CPPIB’s board. Clark is vice president of finance and administration and chief financial officer at the University of Alberta in Edmonton. Key is a corporate commercial lawyer with a focus on aerospace and employment law; he is a partner in McInnis Cooper’s Prince Edward Island office. Zurel, who in 2000 was named to Canada’s Top 40 under 40 list, is president of St. John’s, Nfld.-based Stonebridge Capital Inc.
Compiled by Brent Jolly
(bjolly@investmentexecutive.com).