MacAlpines overhaul has included about 30 debt-fueled acquisitions, a New York Stock Exchange listing, a new US headquarters in Miami and a major restructuring of the companys Canadian fund-management arm. He also oversaw the majority of the firms international businesses, which during his tenure included employees in Canada, Europe, Japan, Israel and Latin America and strategic partnerships in Asia and Australia and New Zealand. Sure. Jason Weyeneth, CFA Vice-President, Investor Relations & Strategy, Chief Executive Officer and Director, CI Financial, Executive Vice-President and Chief Financial Officer, CI Financial, Executive Vice-President and Head of Investment Management, Executive Vice-President and Chief Legal Officer, CI Financial, Executive Vice-President and Chief Human Resources Officer. in theoretical physics and a B.Sc. WebKurt MacAlpine Chief Executive Officer and Director, CI Financial. If you experience any issues with this process, please contact us for further assistance. Please try again or contact. Please complete the form below and click on subscribe for daily newsletters from Wealth Professional. And we're operating a very differentiated value proposition which is the goal is to build the leading integrated platform in the U.S., but instead of just focusing on the financial element or pursuing a full integration, we are working with our partners to collectively build that platform. (Podcast). NEI Clean Infrastructure Fund expands NEIs suite of impact investment funds and helps investors ride the massive secular shift towards clean electricity infrastructure. Youre almost done. In his role as a Partner, he managed global consulting teams working with some of the largest asset and wealth managers in the world on topics related to strategy, distribution, marketing, international expansion, mergers and acquisitions, and product development. We continue to scale our wealth management platforms in the U.S. having completed or announced 12 transactions for the year-to-date, representing nearly $22 billion of AUM. So take Harbour as an example. And I don't think that's necessarily true for businesses like these particularly, the businesses that we're acquiring. Mr. Lewis has over 20 years of global investing experience and has held senior leadership positions at several organizations, including two of the worlds largest institutional investors. Thanks and good morning. So I had a high degree of confidence in them and they had a working familiarity with me. The infrastructure of a bank, but with a boutique feel, NBFWM offers broad services and security for clients. When I look at our institutional business overall what I'd say is there's probably, three different chunks of business. In just two years, Toronto-based CI Financial has assembled, via acquisition, a $115 billion-asset independent RIA empire in the U.S. Mr. MacAlpine was appointed Chief Executive Officer and Director of CI Financial in September 2019. On the sales front, although the company continues to be in redemptions, we generated strong gross sales results, which increased 23% from a year ago and 8% sequentially. in mathematics and physics from Universit de Montral. The Canadian equity and Canadian balance categories are two of the three most redeemed categories in the industry year-to-date. Mr. Lewiss previous positions also included Senior Vice-President, Risk Management Fixed Income and Overlay Strategies at CDPQ and Senior Vice-President, Fixed Income at Natcan Investment Management, where he oversaw a team managing $16 billion in Canadian and global fixed-income assets. So, it is not panning the majority or a meaningful portion of that number. I believe we're still number one in flows and market share in that very important very fast growing category. Yes, thanks very much. On that wealth management slide, the -- I guess the EBITDA progression year-to-date from $15 million to $73 million. During the quarter, we spent $78 million to repurchase 4.3 million shares. During the height of the pandemic, we did feel the leverage was a little bit high relative to our comfort zone, and we reduced our credit revolver by $175 million in short order by redeploying. And that was really the next tranche of deals. And on day one everything is -- everything that you do is what we do. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Kurt MacAlpine has been facing his share of headwinds with CI Financials recent business decisions, but hes convinced hes charted the right course for the company, and he plans to stick with it. Just one follow-up. So the ability to buy scale and wealth management given where we're focused, doesn't really exist. In May, we shared with you the details of our rebranding initiative, which is aimed at more effectively communicating to the marketplace the breadth and depth of CI's capabilities and highlighting the firm as an integrated global asset and wealth management company. So the bar for us entering was obviously, higher and it was really important for us to do something very differentiated than what exists in the marketplace. Earnings per share of $0.62, was up $0.06 per share from the second quarter and up $0.02 from the third quarter last year. It's a smaller portion of the line, Scott. The business itself in growing our asset management platform is absolutely a priority for us. If you take Doyle Wealth Management, the greater Tampa Bay Area is one of the biggest hotbeds for Canadian retirees' period. We are also taking this opportunity to better structure our investment platform to foster improved communication and collaboration across the organization, positioning us to deliver the full-scale and capabilities of CI to our clients not just the capabilities of our legacy investment boutiques. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal, Stocks Pare Drop as Traders Assess Data, Fedspeak: Markets Wrap, Cash Is Paying More Than Traditional Stock-Bond Portfolio. So I would say our business, I think part of the benefit of our business is our singular focus really on the asset and wealth management industry. We reported total assets of $202.4 billion, up 4% from September and another all-time high for CI. Net income and adjusted net income of $130.6 million is up 9% from $120.2 million last quarter. But the way, we had structured our investment platforms we were only able to deliver the scale at the individual boutique level. We are making these changes while protecting the elements of our investment platform that make us unique. As Executive Vice President and Chief Financial Officer, Mr. Muni overseas the companys global finance operations and investor relations teams. 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Mr. Muni is a graduate of Pace University in New York and is a Certified Public Accountant. And it would be more opportunistic in nature. As a large and independent firm with global reach, CI is well positioned to take advantage of the many opportunities in asset and wealth management. I'm incredibly pleased by the progress we've made in growing our wealth management business in such a short period of time, but I'm even more encouraged by how well our differentiated story is resonating in the U.S. marketplace positioning us well for continued future growth. The first one is in the segments of advisers that we're selling products to. Mr. Kelterborn also serves as a director of the Canadian Exchange Traded Funds Association and holds a BA from Carleton University and an LLB from the University of Ottawa, and was called to the Ontario Bar in 1992. Yes. Good morning. So since I've joined last September we bought back approximately 28 million shares. I also wanted to provide some additional information on our run rate wealth management profitability after the deals we've announced recently had closed. I would say if you think about the journey we've been on the first few deals that we had started with or prioritized were firms that I had professional relationships with in prior lives. That is helpful. And once again that was a speculation based upon the breakdown of the platform. They got it, and now one of Canadas largest independent asset managers is a little less Canadian, and a lot less valuable. We had another strong quarter as markets and our AUM continued to rebound. SG&A in the wealth segment moved up slightly to $30.4 million even though incremental SG&A from RIAs acquired this year was more than $2.9 million in the quarter. , Scott million last quarter Certified Public Accountant it 's a smaller portion of the alerts! 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