Briefly: Changes to T.O. CFA board and more news

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Toronto CFA Society has added three new members to its Board of Directors: Josephine Marks, Dale Powell and Gregory Woynarski.

Marks is managing director, pension assets at Scotiabank where she is responsible for oversight of its global pension assets.

Powell is director, investment consulting at Morningstar Research leading its institutional product and consulting business.

Woynarski is currently managing director and head of the global debt capital markets group and global co-head of credit capital markets group at Scotia Capital.

“Toronto’s commitment to high ethical standards is reflected through the dedication, hard-work and leadership of its volunteers allowing our board to continue to represent over 7,000 members,” said Nancy Hoi Bertrand, CFA, president of Toronto CFA Society.

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Claymore launches new ETF

Claymore Investments has introduced the Claymore Inverse 10 Yr Government Bond ETF.

The latest Claymore ETF is designed to replicate the inverse of the daily total return before fees, expenses and transaction costs of the 10 Year Government of Canada Bond on a non-leveraged basis (1:1 ratio of the assets to notional exposure).

It will focus on any bond issued by the Government of Canada (exclusive of any Crown Corporations, Provincial bonds or Municipal bonds) consisting of semi-annual pay fixed rate bonds denominated in Canadian dollars originally issued at 10 year auctions, with an effective term to maturity of 8 to 10.5 years, a credit rating of at least BBB and minimum issue size of $3.5 billion.

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New members join Economic Advisory Council

Minister of Finance, Jim Flaherty, has added some new members to the Economic Advisory Council.

The Council members are:

• Janice MacKinnon, Chair
• Peter Brown
• Paul Desmarais, Jr.
• George Gosbee
• Duncan Jackman
• Monique Jérôme-Forget
• Jack Mintz
• Andrew Oland
• Jim Pattison
• Edward Rogers
• Rob Wildeboer

“While Canada’s economy is showing encouraging growth, the global economic recovery remains fragile,” said Flaherty. “During this crucial period, we are bringing together some of Canada’s most talented business and economic innovators to help us continue to make economic progress and return to budget balance.”

The Economic Advisory Council was first established at the outset of the global recession in 2008. The members include Canadian business and academic leaders who provide advice to the Government on a broad range of fiscal, economic and financial issues. They meet periodically to provide advice to the Government as required.

(06/29/10)