CI Financial Corp. has combined some of the resources acquired in its merger with KBSH Capital Management in a new division focused exclusively on the institutional investment marketplace.
The new group, CI Institutional Asset Management, will include $8 billion in assets under management at KBSH.
"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 Anderson, CI's chief executive officer. "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 CI Institutional Asset Management sales and service team consists of 10 professionals led by Christopher Boyle, senior vice president, CI Investments. Vice-President Craig Auwaerter, former head of institutional marketing at KBSH, has taken on a senior role within the group, as well as continuing with his current responsibilities.
CI Investments is one of Canada's largest investment management companies. It has $82 billion in fee-generating assets, and one of the largest mutual fund operators in the country.