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Desjardins Group has announced the appointment of Christiane Bergevin to the position of executive vice-president, strategic partnerships, office of the president of Desjardins Group.

Her new duties involve analyzing and carrying out business partnerships, acquisitions or other development projects for Desjardins in Québec, across Canada or abroad, in support of Desjardins Group’s major business sectors. She starts her new role on Aug.17, 2009.

Also, Richard Nadeau is joining Desjardins Group as managing director and vice-chair of Desjardins Securities. He will start the new position on Aug. 18, 2009. Until recently, Nadeau was senior vice-president of TMX Group.

Recently, Bergevin was appointed senior vice-president and general manager, corporate projects at SNC Lavalin Group.

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Scotia reorganizes its executive team<

Scotiabank announced that it has made changes to its executive management team. Effective Sept. 1, 2009, Wendy Hannam, currently executive vice-president, personal banking and distribution, Canada, has been appointed executive vice-president, sales and service, products and marketing, international banking.

Dieter Jentsch, currently executive vice-president, commercial banking, Canada, has been appointed executive vice-president, Latin America. Jentsch will be responsible for Scotiabank’s Latin American operations, including Central America and for the Spanish-speaking countries in the Caribbean.

Anne Marie O’Donovan, currently senior vice-president and chief auditor, has been appointed executive vice-president and chief administration officer, Scotia Capital. This is a new executive role.

Lastly, Anatol von Hahn, currently executive vice-president, Latin America, has been appointed to the newly created position of executive vice-president, personal and commercial banking, Canada.

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Claymore makes change to financial ETF

Claymore Investments Inc. has changed the investment strategy of the Claymore Canadian Financial Monthly Income ETF to a passive quantitative methodology from an actively managed approach.

In addition, Claymore will be reducing the management fee from 1% to 0.65%, with a corresponding increase in the service fee component from 0.40% to 0.75%. In effect, the total fee payable by the fund will remain the same, 1.4%.

As a result of these changes, the Financial Monthly Income ETF will be re-designated as advisor class, starting Aug.17, 2009.

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Manulife announces fund merger

Manulife Mutual Funds is planning to merge its Manulife Global Value Class fund into the Manulife Global Opportunities Class.

Pending approval from securityholders of the Manulife Global Value Class fund, the merge is expected to be completed on or about Friday, Dec. 11, 2009.

The company says they are making the change to eliminate overlap in competing mandates, and to help achieve cost efficiency.

(08/14/09)