The other type of opportunity that could exist would be an opportunity for us to diversify beyond the Canadian marketplace. I would say in the auction process oftentimes there's an assumption that if you're in an auction process that the highest bidder ultimately is the winner. December 23, 2022 MacAlpine moved over from WidomTree Asset Management Canada and initiated the acquisition of his former company, which has now been folded into the rebranded CI Global Asset Management. Kurt MacAlpine 's email & phone Current Position: Chief Executive Officer at CI Financial Location: Toronto, Ontario Experience: 17 years How to contact Kurt MacAlpine Get email address: xx@cifinancial.com Phone number: +1-xxx-xxx-5429 Last updated: 2021-04-29 Social media: Sign Up to Get Free Contacts Use a Browser articles a month for anyone to read, even non-subscribers! We just need a little more information to create your account. In this series of videos and articles, TD Wealth professionals share practical strategies that helped them build rewarding careers. So any M&A that you would see us doing would be in one of those two areas aligned against the three strategic priorities that we had outlined. And I don't think that's necessarily true for businesses like these particularly, the businesses that we're acquiring. He has extensive experience in the global asset and wealth management industry, having previously served as Executive Vice-President and Head of Global Distribution for WisdomTree Asset Management and as a Partner and Leader of the North American Asset Management Practice at McKinsey & Company. We rolled out the initial model in March and it has started to build essentially from there. And so that's been helpful. Two increasingly important categories where we are growing our market share. Prior to ADIA, Mr. Lewis was Senior Vice-President and Deputy Chief Risk Officer at Caisse de dpt et placement du Qubec (CDPQ), where he led a team that analyzed and monitored the risks of both public and private investments in the CDPQ portfolio. I mentioned earlier, we're in the process of transforming our sales function and that the insights from the model has led us to re-cut and reposition some of our sales territories. And that was really the next tranche of deals. Kurt MacAlpine, CI Financial May 17, 2021 CEO CI FINANCIAL Since becoming CEO of CI Financial in 2019, Kurt MacAlpine has led the organization through Trading is expected to begin next Tuesday the 17th, under the symbol CIXX. Just following on that maybe on that $2.50 billion to $3 billion institutional that you mentioned earlier. And CI bought back 4.25 million shares in the quarter as we continue to direct cash flow, buying back shares and making acquisitions in the wealth management segment. And what's the difference between that and the institutional that might not be at risk? In conjunction with the rebranding of CI Investments, CI Global Asset Management, we are phasing out the brands associated with our investment boutiques and moving to an integrated investment management platform under the CI Global Asset Management name. As you can see, we've experienced phenomenal growth this year. It really depends. And as a result, typically their clients are in natural redemption mode as they navigate through retirements. So, there is a range of pricing within it. He holds a PhD in theoretical physics from Pierre and Marie Curie University (now Sorbonne University), and an M.Sc. The business itself in growing our asset management platform is absolutely a priority for us. Earlier this year, Anderson said he planned to retire by mid-2020. So what I was trying to do in responding to the question was provide the visibility into the breakdown of the institutional and assigning the assets to that particular segment or sub-segment. His diverse experience spans asset allocation, portfolio construction, risk management, public and private markets, and fundamental and quantitative strategies. They have a phenomenal focus on serving corporate executives in the oil and gas industry, which creates a very interesting energy corridor opportunity for us partnering with Assante. Net debt increased $1.669 billion as cash was deployed to close the acquisitions of BDF and Congress and the net debt-to-EBITDA ratio rose to 2.1 times. 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. As we think about globalizing what I would say is, I'm not sure if we'll do something to globalize. I think there's probably a little bit more there than that plus everything that we've shared, and we'll continue to share will be pre-synergies just given my preference not to provide go-forward guidance or projections. Yeah. So if we're not additive to the process on the client front, we're not interested. People want to stay around and operate the businesses on an ongoing basis. CEOs radical remake accompanied by staff exodus, higher debt, Chairman says of employee complaints: I could care less. It also just to continue to reiterate wasn't planned redemptions. Computershare Investor Services. So the boutique and multi-brand structure was, I'd say perfectly designed for the marketplace up until five or six years ago. Wealth management assets jumped to $66.1 billion on market performance and with the addition of BDF and Congress in the third quarter. Currently, Kurt MacAlpine occupies the position of Chief Executive Officer & Director at CI Financial Corp. and Chief Executive Officer & Director at CI Private Wealth. in mathematics and physics from Universit de Montral. Kurt Macalpine, 62 Lives in Boston, MA. We believe these changes will improve the client experience, not only through the potential for improved performance, but by simplifying our offering, while strengthening our value proposition. EPS of $0.62 for the quarter represents the best quarter of the year, and a 3% growth from a year ago. He was also a member of the CDPQ asset allocation committee. I mean, if a considerable improvements on a year-over-year basis, right. He also previously worked at PwC LLP, where he performed audit and business advisory services for multinational and mid-sized broker dealers. Our marketing expense to date, we've essentially been self-funding this initiative within the existing marketing expense base. We remain focused on controlling costs even as we continue to execute on our strategic priorities. These instruments preserve capital, offer stable income and protect against volatility. And I would say the other area that I have a lot of excitement for is our fixed income and the relationship that we've struck with DoubleLine and the very early success that we've experienced there on a go-forward basis. Is that a priority? I don't like to give guidance on anything as I think oftentimes it's just guessing. At this time, I would like to welcome everyone to the CI Financial 2020 Third Quarter Results Webcast. But it is something that we're monitoring. 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. I don't have the exact number in front of me, but you're in the ballpark. So they're taking some form of stake in the business and allowing the business to continue to operate on a freestanding independent basis. I believe that number right now in terms of the assets at risk is probably in the range of $2.50 billion to $3 billion total. The revenue earned on these assets is recorded in the asset management segment. CI Financial Corp.s CIX-T chief executive Kurt MacAlpine saw one of the largest jumps in total compensation, to $10.60-million, up more than 75 per cent from Related to: Kurt Macalpine. Sure. Currently, Kurt MacAlpine occupies the position of Chief Executive Officer & Director at CI Financial Corp. and Chief Executive Officer & Director at CI Private Wealth. He received an MBA from Queen's University and an undergraduate degree from Saint Mary's University. WebCI Financials Strategic Priorities Update from CEO Kurt MacAlpine November 2019. Can you quantify how much of that comes from the line to get a sense on the U.S. RIA traction? On that wealth management slide, the -- I guess the EBITDA progression year-to-date from $15 million to $73 million. So they are small endowments, foundations, pensions and things like that. Next, I will update you on our corporate rebranding initiative. 100 University Avenue, Eighth Floor. We continue to take a dynamic approach to capital allocation that includes debt reduction, the return of capital to shareholders through share repurchases and dividends and acquisitions. So when I look at a couple of layers below the surface flows, the parts that excite me the most about our business; one the pivot that we made to IIROC and our team has done a really nice job of shifting the business mix to be more balanced between MFDA and IIROC. Thank you for the question. At WisdomTree, MacAlpine was responsible for all client-facing functions and oversaw most of its international businesses. 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. But there does seem to be a lot of fund overlap when you look across the different legacy boutiques. WebHe has extensive experience in the global asset and wealth management industry, having previously served as Executive Vice-President and Head of Global Distribution for And by us, focusing on, essentially just fitting a framework or fitting that firm to a framework, we're losing a lot of the individuality or the specialty that they bring to us. Core average assets under management, which represent the assets managed by CI in Canada, and GSFM in Australia were up 5% in the quarter to $126.4 billion. CI's gross debt finished the quarter at $1.96 billion and a reported debt-to-EBITDA ratio of 2.4 times as EBITDA rebounded 10% in the third quarter to $204.6 million from $186.6 million last quarter. Good morning. I think our momentum continues to pick up on a month-by-month basis. in theoretical physics and a B.Sc. These are human capital and people businesses and we want to make sure that we're excited about all the individuals that we're ultimately partnering with. 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. Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp. MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York. So when we look at opportunities there's two things that have to remain intact for us to be willing to do a deal. Queen 's University multinational and mid-sized broker dealers staff exodus, higher debt, Chairman says employee... Years ago in theoretical physics from Pierre and Marie Curie University ( now Sorbonne University ), and an.., MA five or six years ago up until five or six years ago their clients are natural... Client-Facing functions and oversaw most of its international businesses expense base to welcome everyone to the process on the RIA! Think oftentimes it 's just guessing now Sorbonne University ), and and! Videos and articles, TD wealth professionals share practical strategies that helped them build rewarding.... 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