Galileo Global Equity Advisors has announced that Stephen Craig and Joseph MacDonald have joined the firm as shareholders, subject to final regulatory approval. They will serve alongside the firm’s founder, Michael Waring.
Craig joined Galileo in October of 2011 after having served as managing director and head trader at Salida Capital. He has also served as partner and head trader at J Zechner Associates, and as institutional sales trader at First Marathon Securities, First Boston and Wood Gundy.
MacDonald rejoined Galileo in September 2011 and has been named the firm’s chief operating officer and director. He previously served at Mackenzie Financial, O’Donnell Investment Management, YMG Capital Management and Calgary-based Citadel Group of Funds. He is a member of the investment and finance committee of Kings College at the University of Western Ontario and a past director of IFIC.
Galileo had earlier announced that Michael Wekerle and Paul Sparkes also intended to take a stake in the company, leaving Waring, with a 25% stake. This deal did not go through, and Waring, Craig and MacDonald now each own one-third of the common shares of the company.
“I’m delighted to confirm Stephen and Joe’s ownership status in our firm and wish Mike Wekerle and Paul Sparkes all the best in their future endeavours,” said Waring, CEO and chief investment officer. “Although Mike and Paul were only with us for a couple of months, their contributions are appreciated. Going forward, I believe we have established a strong, talented and cohesive leadership team for the long term.”
Galileo also announced today that Fundata has awarded a coveted FundGrade A+ Rating to the Galileo High Income Plus Fund. The rating recognizes mutual funds with the best risk-adjusted returns and the highest level of consistency in performance.
“I’m honoured to see our past performance recognized in this fashion,” said Waring. “I think it is testament to the hard work of our team and the quality of our investment process. Our objective is to ensure we continue to deliver the same excellent results for our unitholders going forward.”