Home Breadcrumb caret Industry News Breadcrumb caret Industry Profits rebound for Fiera in Q4 The asset manager was in the black after recording a net loss the previous quarter By Maddie Johnson | March 19, 2020 | Last updated on March 19, 2020 1 min read Profits surged for Fiera Capital Corporation in the fourth quarter of 2019, the Montreal-based asset manager reported on Thursday. Net earnings reached $5.3 million, rebounding from a net loss of $4.6 million the previous quarter and a net loss of $1.6 million in the fourth quarter of 2018. Total revenues reached $204.5 million in Q4, up 30% from a year ago. Revenues in 2019 were $657.2 million, up from $540.3 million in 2018. Fiera’s four acquisitions over the course of the year — including the acquisition of Foresters Asset Management Inc., Integrated Asset Management Corp. and Natixis’ Canadian operations, as well as an 80% stake in Palmer Capital Partners Limited — helped bolster revenues, the firm said. Assets under management (AUM) were $169.7 billion in the fourth quarter, up 24% year over year. Fiera attributed the increase to favourable market conditions and new institutional global equity mandates won in Europe and the U.S., which added $2.8 billion to AUM. Fiera also announced on Thursday that Jean-Philippe Lemay has been appointed global president and chief operating officer, replacing Vincent Duhamel, who will serve as vice chairman of Fiera’s board of directors. Maddie Johnson Maddie is a freelance writer and editor who has been reporting for Advisor.ca since 2019. Save Stroke 1 Print Group 8 Share LI logo