Robert Hager, co-founder of Vancouver-based Phillips Hager & North Investment Management Ltd., passed away in early October. Founded by Hager, Art Phillips and Rudy North in 1964, PH&N has grown to $79.9 billion in assets under management and 300 employees. Toronto-based Royal Bank of Canada bought PH&N in 2008 and rolled it into its RBC Global Asset Management Inc. subsidiary, which primarily handles money for private clients, non-profit organizations and institutional investors. Hager co-founded PH&N two years after receiving his master’s of business administration degree from the University of British Columbia in Vancouver.

E&Y recognizes Nicola

The Vancouver office of Toronto-based Ernst & Young LLP has named John Nicola, chairman and CEO of Vancouver-based Nicola Wealth Management Ltd., as its 2011 Pacific Entrepreneur of The Year in the Professional/Financial Services category. With 40 years of industry experience, Nicola led the 50% growth in his firm’s assets under management to $1.65 billion over the past year, as well as increasing staff by 17% to more than 70 employees in that same period. Nicola had founded the wealth-management firm in 1994 with seven employees. The E&Y awards program is now in its 18th year.

Reynolds awarded

The Toronto-based Financial Planning Standards Council has awarded Randy Reynolds its 2011 Donald J. Johnson Award for “outstanding contribution to the profession of financial planning in Canada.” With 45 years of industry experience, Reynolds, president of Vancouver-based Financial Advisors Brokerage Group Inc., has received the award for his contributions to the financial planning sector, including serving as a board member of the FPSC; acting as president of the Institute of Chartered Financial Underwriters’ mainland British Columbia chapter; and national chair of Toronto-based Advocis from 2004 to 2005.

Developments at Manulife

Don Guloien, president and CEO of Manulife Financial Corp., has joined the International Business Leaders’ Advisory Council, a group of international business leaders that consults with Shanghai’s municipal government on business-development strategies within the region. The council, since its inception in 1989, has grown to 47 members from 16 countries from 12 members representing seven countries. Manulife began growing its presence in China in 1996, when it partnered with Beijing-based Sinochem Group to create Shanghai-based Manulife-Sinochem Life Insurance Co. Ltd. In another development, Monika Skiba has been appointed as head of the new Canadian core equity team in Manulife’s asset-management division. Skiba will focus on recruiting a team to build Manulife’s Canadian equities investment strategy. Prior to this appointment, Skiba had been vice president and a portfolio manager with Toronto-based McLean Budden Ltd.

Compiled by Olivia Glauberzon
(oglauberzon@investmentexecutive.com).