AGF CEO to transition to executive chair

AGF will soon have a new chief executive.

CEO and chair Blake Goldring has decided to transition to executive chair, a release from the company says. Kevin McCreadie, AGF’s president and CIO, will be Goldring’s successor.

“It is my personal belief that leadership renewal is a hallmark of great organizations, especially one that has the deep bench strength that we do at AGF,” said Goldring in the release.

Judy Goldring, executive vice-president and COO, has been named president and chief administration officer.

The new positions are effective Dec. 1.

During Blake Goldring’s more than 20 years in leadership—as president (1997) and subsequently as CEO (2000)—the firm has grown from $12.8 billion to $38.8 billion in assets under management, says the release, with a more diversified footprint to include institutional, private client and alternative assets.

Third-quarter results

The firm released financial statements Wednesday for the third quarter ended Aug. 31, with assets under management increasing 11% to $38.8 billion compared to the same period in 2017, with growth achieved across all lines of business.

Mutual fund net sales were $23 million year-to-date, an improvement from net redemptions of $266 million for the same period last year. Adjusting for net redemptions from institutional clients invested in mutual funds, net sales in retail mutual funds were $73 million year-to-date.

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