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Creststreet Asset Management has appointed Michael D. Clare as vice-president, investments. He joined Creststreet in 2008 and has held roles of increasing responsibility in investment analysis since.

Clare will co-manage Creststreet’s investment funds along with the firm’s managing director and founder, Robert J. Toole. Clare succeeds Stephen R. Martin, who has left the firm to pursue other opportunities.

At the same time, Creststreet has appointed Sheryl J. Chiddenton as vice-president, compliance and investment services. She joined the firm in 2001.

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Standard Life names two VPs

Standard Life has announced the appointment of two new vice-presidents. Kevin Meckelborg has been appointed regional vice-president for the western region, retail markets, and Isabelle Alarie has been named vice-president of customer service for group insurance.

Meckelborg is a 20 year industry veteran, having worked for Empire Life, Fiera Capital, OpenSky Capital, Talvest and ScotiaMcLeod. Among his past roles, he has worked as a financial advisor.

Alarie has 15 years experience in the insurance industry, including 10 years at Standard Life. She succeeds Anne Pennell, who has retired.

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Canadian investors should be wary: Heward

The global economy is on the mend, but the Great Recession that almost shattered the western world’s banking system has left a long-term footprint, according to C.F.G. Heward, a provider of global investment management and advisory services.

The most notable of these lasting impressions is reduced U.S. consumer spending, which could affect virtually every country that exports to America.

With the U.S. as its largest trading partner, Canada is bound to feel the impact of that spending downturn, but for now, the economy is benefiting from government stimulus and low interest rates. These levers have allowed businesses to resume hiring, the Heward report says.

“Canadians have good reason to be optimistic about our economy heading into 2010 and it looks like we will do quite well compared to other leading industrialized nations,” said Willem Hanskamp, senior vice-president, C.F.G. Heward. “However, we also need to remain cautious. For starters, we would like to see international demand for our exports rise. And domestically, while low interest rates stimulate consumer spending, they also add risk to high household debt levels.”

He goes on to say the firm is advising its clients to favour companies that grow their dividends, while keeping an eye out for opportunities in the energy, infrastructure and technology sectors. Consumer demand in emerging economies will give a boost to consumer product companies with exposure to these markets, and materials should see healthy demand.

(02/02/10)