CI sets up institutional practice

One of Canada’s largest retail asset managers has launched a new business division that will focus exclusively on the institutional investment marketplace.

CI Investments has announced the launch of CI Institutional Asset Management. This brings together CI’s existing institutional distribution business and KBSH Capital Management, which was merged with Signature Global Advisors in December 2008.

Existing clients mean the new division will start off with about $8 billion in assets under management.

“CI has been very successful in developing partnerships with a number of large financial institutions, and we are now gaining increasing business with defined contribution pension plans,” said Peter W. Anderson, CI’s CEO.

“The consolidation of the CI and KBSH institutional businesses is an opportunity to offer our investment management expertise to a broader clientele, and we intend to aggressively grow our presence in the defined benefit and endowment markets.”

The 10-person sales and service department for the new unit will be headed by Christopher Boyle, senior vice-president, CI Investments.

The former head of institutional marketing at KBSH, vice-president Craig Auwaerter, has taken on a senior role within the new group and will continue with his current responsibilities.

(05/05/09)