M and A
Acquisition-Hungry CI Financial Names New CFO
These are busy times at CI Financial; it managed and advised on about $185.7 billion of client money as at the end of February, and has snapped up a number of US firms. Its strategy is part of a wider M&A trend shaping the North American wealth sector.
CI Financial, the Toronto-listed financial group that has bought a number of US wealth managers over the past year, has appointed former Wisdom Tree chief financial officer Amit Muni as executive vice president and new chief financial officer. He is taking over from Douglas Jamieson.
Reporting to CEO Kurt MacAlpine, Muni will oversee the company’s global finance operations and investor relations teams. His appointment will be effective no later than May 31, 2021.
Muni’s 28 years of professional experience includes 13 years as a public company CFO. At Wisdom Tree, he was CFO from 2008. Before that, he was chief accounting officer of International Securities Exchange Holdings, the electronic options exchange and was involved in its IPO in 2005. He is a Certified Public Accountant and a graduate of Pace University in New York.
As previously announced, Jamieson, has agreed to remain at the group until his responsibilities have been transferred to Muni.
These are busy times at CI Financial; it managed and advised on about $185.7 billion of client money as at the end of February, and has snapped up a number of US firms. Its strategy is part of a wider M&A trend shaping the North American wealth sector.
Its primary asset management businesses are CI Global Asset Management and GSFM Pty Ltd. It operates its Canadian wealth management business through Assante Wealth Management (Canada), CI Private Counsel, Aligned Capital Partners, CI Direct Investing (WealthBar Financial Services), and CI Investment Services. In the US, the firm’s wealth management businesses consist of BDF, Bowling Portfolio Management, The Cabana Group, Congress Wealth Management, Doyle Wealth Management, One Capital Management, The Roosevelt Investment Group, RGT Wealth Advisors, Stavis & Cohen Private Wealth, and Surevest.
In early March CI Financial announced that it was partnering with New York Private Bank & Trust (parent company of Emigrant Bank) to serve US high net worth investors provided by Emigrant’s subsidiaries.
