Renée Alexander

Fustey rebrands Elysium, aims for expansion

When Alan Fustey headed up a team to buy Elysium Wealth Management Inc. last month, he didn’t want there to be any confusion about its operations so the first order of business was changing the name. Gone was the Winnipeg-based portfolio management firm’s moniker of 20 years, replaced by Index Wealth Management Inc. “It brands […]

By Renée Alexander |July 19, 2010

3 min read

Weinberg back on acquisition trail

After a seven-year hiatus from the acquisition trail, Marty Weinberg is back with a vengeance. The former CEO of Assante Corp. has finalized a deal to acquire Brockhouse Cooper, an investment consulting and securities trading firm based in Montreal. The company, which has operations in 50 countries and advises on more than $300 billion in […]

By Renée Alexander |April 29, 2010

3 min read

Wellington West sells small stake to National Bank

After searching for months, Wellington West Capital has found the backing it needs to pursue its aggressive growth strategy. The Winnipeg-based full-service brokerage has signed a deal to sell 12.5% of the firm to National Bank Financial Group for $35.8 million ($54.40 per share). Charlie Spiring, CEO and founder of Wellington West, says with the […]

By Renée Alexander |September 22, 2008

3 min read

Wellington West settles Crocus claim

Wellington West Capital has agreed to a $500,000 out-of-court settlement with unitholders of the now defunct Crocus Investment Fund, in exchange for being dropped as a defendant in a $200-million class action suit. The agreement removed a “major impediment” to asking the court’s permission to give money back to about 34,000 shareholders, according to Russ […]

By Renée Alexander |July 16, 2008

2 min read

Crocus case edges toward payment

For the first time since the Crocus Investment Fund ceased trading more than three years ago, unitholders have reason to hope they might receive a portion of their investment back. The out-of-court settlements reached last week with four defendants for nearly $9 million in the fund’s class action lawsuit — bringing the settlement total to […]

By Renée Alexander |March 6, 2008

3 min read

Great-West Lifeco unloads healthcare division

Great-West Lifeco has sold off its “underperforming” U.S. healthcare division so it can focus its stateside efforts on growing its financial services business. The Winnipeg-based insurance giant’s U.S. subsidiary, Great-West Life & Annuity Insurance Co., has agreed to offload Denver-based Great-West Healthcare to CIGNA Corp. for $2.25 billion US. Ray McFeetors, Great-West’s CEO, says the […]

By Renée Alexander |November 28, 2007

4 min read

Crocus board deserves no protection: receiver

Directors and officers of the Crocus Investment Fund “abdicated their responsibilities” to more than 33,000 shareholders, according to a new report released by the court-appointed receiver, and that has convinced Russ Holmes to push for an end to their indemnification from a class-action lawsuit. Holmes, a partner at the Winnipeg office of Deloitte, spent more […]

By Renée Alexander |November 26, 2007

6 min read

Still-private Wellington West opens the books

Nearly two years before it plans to go public, Wellington West Holdings Inc. has released an annual report complete with all of its financials. The unusual move for a still-private entity is part of what the Winnipeg-based firm’s CEO, Charlie Spiring, calls being “a public company in training.” “We talk about transparency all the time. […]

By Renée Alexander |March 9, 2007

3 min read

Weinberg’s new shop targets ultra-HNW

Three and a half years after selling Assante Corp., Marty Weinberg is back at the helm of a financial services company in Canada. The Winnipeg-based entrepreneur has launched Pavilion Investment House, a firm targeting “ultra” high-net-worth clients across the country. It is also the parent to a pair of entities of which Weinberg is a […]

By Renée Alexander |February 27, 2007

4 min read