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MFC Global Investment Management has named Chris Conkey as chief investment officer, global equities, effective immediately. He will lead MFC Global’s equity group from Boston and is responsible for the overall investment performance and risk management of the firm’s portfolio of equity strategies globally.

In this role, Conkey will work with Barry Evans, CIO, global fixed income, and Mark Schmeer, CIO, asset allocation, strategy and research. Schmeer had previously held the role Conkey is now taking over.

“We are delighted to have Chris join the MFC Global team at this important stage of our growth,” says Jean-François Courville, president and CEO of MFC Global. “Chris Conkey is a seasoned investment professional with a strong track record of building and motivating teams within a performance-oriented culture.”

A 25 year investment industry veteran, Conkey was most recently CIO of Evergreen Investment Management Company where overawes $180 billion in assets.

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B2B Trust signs deal with Renaissance

B2B Trust has signed a deal with Renaissance Investments for the distribution of investment and RRSP loans. Under the deal, B2B Trust will offer preferred rate loans to Canadians investing in Renaissance funds through the 15,000 financial advisors doing business with B2B Trust.

“B2B Trust and Renaissance Investments share a common interest — providing added value to the end consumer,” says Al Spadaro, vice-president, business development at B2B Trust. “Renaissance Investments accomplishes this with its top-quality investment products, and at B2B Trust, our focus is on giving advisors a wide range of options that they can present to their clients.”

Renaissance Investments is the mutual fund management subsidiary of CIBC.

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Forester launches hotline

Toronto-based life insurance provider Foresters has set up the Everyday Money helpline as a complimentary service to their members.

The toll-free, confidential hotline is staffed by accredited counselors who will answer everything from budget planning and identity theft questions to what is the best way to plan for your child’s college education.

The counselors will be available from 7 a.m. to 9 p.m. ET, Monday to Friday and from 8 a.m. to noon ET on Saturday.

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The BCCA dismisses IIROC appeal

The British Columbia Court of Appeal (BCCA) has dismissed the Investment Industry Regulatory Organization of Canada’s (IIROC) request to appeal the British Columbia Securities Commission’s (BCSC) findings regarding Kianosh Rahmani.

In a 2004 hearing by the Investment Dealers Association of Canada (IDA), it was found that Rahmani had not disclosed his criminal record when registering with the IDA. As a result of that hearing, Rahmani was banned from ever again registering with the IDA.

Rahmani asked the BCSC to change this permanent ban to a five-year ban. The commission agreed and Rahmani is now eligible to work as a registered representative in the investment industry.

The BCCA’s rejection of the IIROC’s appeal in this case means that the decision is final.

For more information on the BCCA’s decision in this matter, click here.

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IIROC settles with David Martin

An Investment Industry Regulatory Organization of Canada (IIROC) hearing panel has ruled to accept a settlement agreement between David Martin and IIROC staff.

It was found that during 2006 and 2007, Martin made trades on his clients’ accounts without their consent, allocated losses among 25 of his clients and gave himself priority over his clients when trading, among other discretions.

Because his employer has imposed sanctions on Martin, making him repay the $139,737.20 that his clients lost because of the unauthorized transactions, IIROC felt that an additional fine of $5,000 and a reprimand from the hearing panel was sufficient punishment in this case.

Martin continues to work as a registered representative with the Calgary branch of CIBC World Markets Inc.

For more information, go to www.iiroc.ca.

(03/15/10)