Changes at Fiera Capital
On May 31, 2017, Fiera Capital announced the following nominations:
- Jean-Guy Desjardins, who is currently Chairman of the Board and CEO, is now President of the firm.
- John Valentini, who is currently Global Chief Financial Officer, has been nominated as Executive Vice President and President of the Private Alternative Investments division.
- François Bourdon was nominated as Global Chief Investment Officer.
Mr. Valentini and Mr. Bourdon will report directly to M. Desjardins.
On June 9, 2017, Fiera announced the nomination of Jean-Philippe Lemay as President and Chief Operating Officer of the Canadian division. He will stay in his role as Chief Investment Officer in the medium term in addition to his new responsibilities.
This nomination follows the departure of Sylvain Roy, who will pursue entrepreneurial aspirations. He will stay with the firm in a consulting role for the next 12 months.
On June 14, 2015, Fiera announced the nomination of Monique Leroux as Vice Chairman and Strategic Advisor. In this role, Ms. Leroux will support senior management in the development of the firm as well as strategic planning. She will also join the firm’s strategic development committee.
Departure at PIMCO
On June 13, 2017, PIMCO, the manager of the Desjardins Global Tactical Bond (PIMCO) Fund, announced that Jay Jacobs, President and Managing Director, has decided to retire from the firm at the end of September 2017. Following a well-planned transition, Robin Shanahan, Managing Director and Global Head of Human Resources, and Peter Strelow, Managing Director and Chief Administrative Officer and Global Head, Funds, will assume the roles of Co-Chief Operating Officers, reporting to PIMCO’s CEO, Emmanuel Roman.
Mr Jacobs will continue to serve the firm as an advisor to Mr. Roman until at least September 2018.
This change has no direct impact on the management of the fund.
Change at AllianceBernstein
On May 11, 2017, AXA Group (France) announced their intention to sell a minority stake of AXA Equitable (US) via an IPO on the New York Stock Exchange.
AllianceBernstein’s ownership does not change as a result of AXA’s planned IPO of its current US business operations. AllianceBernstein will remain a publicly-traded master limited partnership and AXA Equitable will remain AllianceBernstein’s majority stakeholder.
AXA’s (France) decision is a strategic one to shift focus from the life insurance business and ultimately unburden their US insurance operations from the European regulatory regime to make it more competitive.
There is no indication that the IPO will have an impact on AllianceBernstein’s daily operations.