Briefly:

(June 2, 2008) Russell Investments Canada has appointed Sadiq S. Adatia as its new chief investment officer, replacing Timothy Hicks, who will now lead Russell’s North American Equities team.

“Sadiq’s regular collaborations with Tim Hicks and Russell’s asset class directors across the globe will help us provide investors with an even wider breadth of capital market research and portfolio management expertise,” said Irshaad Ahmad, president and managing director of Russell Investments Canada.

Adatia will continue to work closely with Hicks, the company said, and will have overall responsibility for Russell Investments Canada’s investment team. Adatia currently heads Russell’s Canadian equity funds and LifePoints Portfolios.

RBC buys Houston firm

(June 2, 2008) RBC Capital Markets has announced the acquisition of Houston-based Richardson Barr & Co., an energy advisory firm that specializes in acquisitions and divestitures of exploration and production companies.

“Richardson Barr brings to RBC Capital Markets a strong industry reputation, experienced engineers, geologists and finance professionals, a dedicated focus on acquisitions and divestitures in the exploration and production sector and a terrific cultural fit,” said Peter de Vos, head of investment banking at RBC Capital Markets.

The transaction gives RBC improved access to the energy sector, as Richardson Barr will serve as a conduit for RBC’s equity, loan syndication, and private placement services.

The firm will be rebranded as RBC Richardson Barr, and it will eventually be expanded to cover both the U.S. and Canadian markets. The deal still requires regulatory approval, but is expected to close in the third quarter of this year.

(06/02/08)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.