Canadian managed acct platform hires new sales head

FWR Staff

7 July 2006

Ex-Russell wholesaler moves to smaller national name in managed portfolios. Canadian third-party managed-account platform provider Connor, Clark & Lunn Managed Portfolios has put former Russell Investments wholesaler Derek Perritt in charge of national sales.

"We're excited to bring someone with Derek's experience and background into the organization," says Nick Mancini, President and CEO of Toronto, Ontario-based CC&L Managed Portfolios.

Old hand

A fourteen-year veteran of investment-management wholesaling, Perritt comes to CC&L Manged Portfolios from First Asset Advisory Services, where he was responsible for the sales and marketing of the firm's high-net-worth managed-account platform. Tacoma, Wash.-based Russell acquired Toronto-based First Asset late in 2005.

"Derek's expertise, commitment and passion will play an important role in building our SMA and managed portfolio programs," says Bruce Shewfelt,CC&L's head of institutional sales.

Toronto-based CC&L Managed Portfolios is part of the Connor, Clark & Lunn Financial group of companies, which provides a range of independently-managed investment products and services to Canadian individual and institutional investors through a family of affiliated investment managers. Altogether the group manages about $26.5 billion in assets. -FWR