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Mackenzie Financial has revealed the details of leadership succession for its Maxxum managed mutual funds, following the retirement of Bill Procter, senior vice-president and current head of the Maxxum investment team.

“I have enjoyed working with everyone on the Maxxum team and at Mackenzie over the last 16 years. I am confident that the team will continue to thrive and do what it does best – provide consistent long term investment returns to investors,” said Procter, after 41 years in the investment industry. “Maxxum is in capable hands with a strong investment team and a sound investment strategy.”

Norman Raschkowan, executive vice-president, will take on the role of Maxxum team lead and portfolio manager, effective July 2, 2010. He will assume portfolio manager responsibilities of Mackenzie Maxxum Dividend Fund, Mackenzie Maxxum Dividend Growth Fund and Mackenzie Maxxum Monthly Income Fund.

“With Norman’s appointment, we have selected an individual with leadership ability and significant investment experience to manage this important and growing investment team,” said Charles R. Sims, President and CEO of Mackenzie Financial. “With $6 billion in assets under management, the Maxxum family of mutual funds plays a significant role in many investor portfolios.”

Raschkowan will continue as a spokesman for the company in the role of chief North American investment strategist.

Mackenzie also announced the appointment of Bob Tattersall as interim chief investment officer of Mackenzie Financial Corporation. Tattersall joined the organization in 2008 with the acquisition of Saxon Financial.

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Nicola Wealth launches global bond fund

Nicola Wealth Management (NWM) has announced the launch of the NWM Global Bond Fund, which will invest primarily in fixed-income securities and preferred shares issued around the world.

“Nicola Wealth Management portfolios use a broad asset allocation that extends beyond traditional asset classes,” says David Sung, president of NWM. “The new NWM Global Bond Fund, in concert with our other funds and limited partnerships, allows us to improve our efficiency while ensuring our clients stay well diversified.”

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Goodman & Co. hires Global Thematic Partners

Goodman & Company, Investment Counsel Ltd. has announced that New York-based Global Thematic Partners is replacing Deutsche Investment Management Americas as a sub-advisor to Marquis Institutional Global Equity Portfolio. The change is effective July 1, 2010.

The move comes on the heels of Global Thematic hiring Oliver Kratz, who had worked for Deutsche Americas and was responsible for the portfolio. In his new role with Global Thematic, he will continue to provide the same services to the portfolio.

This change has been approved by the Goodman & Company’s oversight committee. The other sub-advisors to the portfolio remain unchanged and there will be no changes to the investment objectives or investment strategy of the Portfolio at this time.

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Laurentian names Guillotte as sectoral economist

Laurentian Bank Securities has named Marie-Claude Guillotte as sectoral economist with the Economic Research team.

That group analyzes the impact of the North American macroeconomic environment on financial markets and participates in the decision making process related to investment strategies.

Guillotte holds a Master’s degree in economics, with a concentration in research from the Université de Sherbrooke. Her responsibilities at LBS include the monitoring of Canadian economic indicators, the preparation of analyses, and the formulation of associated economic forecasts.

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CWT names business development officer, BC

Canadian Western Trust Company (CWT) is very pleased to announce that James Anderson has joined the company as the new business development officer for the B.C. region.

“We are thrilled to have James join CWT and we are confident his expertise will positively impact the dynamic business development team we have in place,” says Scott Scobie, general manager of CWT. “Our focus has always been to offer our clients a solution-oriented and service-based approach to doing business. James’ inclusion in the B.C. area ensures that we can continue to offer this high level of expertise to CWT’s clients.”

Anderson will build on CWT’s successes in B.C. by presenting the firm as the trust company of choice for independent financial advisors, portfolio managers, mortgage brokers and individual investors.

(06/30/10)