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(September 9, 2008) TMX Group has named Kevan Cowan as president, TSX Markets, and group head of equities. Cowan is already president of TSX Venture Exchange, a role he will maintain.

“We are delighted to announce today that Kevan will be spearheading the continued growth and development of Canada’s two national equity exchanges,” said Thomas Kloet, chief executive officer of TMX Group. “He has the track record and experience to help ensure our success in taking TMX Group forward to an increased presence on the global stage.”

Cowan will be responsible for the equities business of TMX Group, including trading, listings and other services offered by Toronto Stock Exchange and TSX Venture Exchange.

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AIMA names executive committee

(September 9, 2008) The Alternative Investment Management Association has named the members of its executive committee for the 2008–2010 term.

The committee will be chaired by Phil Schmitt of Summerwood Group, with Eamonn McConnell of Manna Asset Management as deputy chair. Michael Burns of McMillan LLP will serve as legal counsel, while Andrew Doman of Man Alternative Investment will serve as secretary. Chris Pitts of PricewaterhouseCoopers is the new treasurer.

McConnell is the only new face on the committee, replacing Tris Lett. The others have all had their present positions extended for an additional two years.

“We are grateful to Tris for the important role he has played in the notable achievements of AIMA Canada, including the development of professional and educational materials and the launch of the AIMA Canada Research Award,” Schmitt said. “We look forward to his continued presence and contribution within the membership at large.”

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Sentry Select, C.A. Bancorp buy Waterfall Investments

(September 9, 2008) Sentry Select Capital and C.A. Bancorp have acquired hedge fund manager Waterfall Investments through a newly created subsidiary.

Financial terms of the deal were not disclosed.

Sentry Select will hold a 66.7% interest in Waterfall, with alternative asset manager C.A. Bancorp holding the rest.

Waterfall was founded by Andrew McCreath, who helped launch Synergy Mutual Funds — which was sold to CI five years ago — in 1997. He has more than 20 years of experience in the brokerage community and investment management business, having worked at Lawrence and Company, Gordon Capital and Burns Fry (now BMO Nesbitt Burns).

“Andrew McCreath is an experienced portfolio manager with a demonstrated track record,” says Sandy McIntyre, senior vice-president and chief investment officer at Sentry Select. “Through his expertise in stock selection, the hedge funds he managed have generated solid returns from both long and short positions. We are looking forward to working with Andrew on existing and future hedge funds at Sentry Select.”

Waterfall currently manages four hedge funds: Vanilla L.P., Neutral L.P., Tipping Point L.P. and Neutral Offshore Ltd.

(09/09/08)