New president of iA Private Wealth unveiled

Adam Elliott has been named president of iA Private Wealth, following Stephan Bourbonnais’s shift in January to the wealth management leadership role with Quebec City–based iA Financial Group.

Elliott was most recently president and CEO of iA Clarington Investments — a position he took on in April 2021, succeeding retiring Andrew Dalglish — after nearly three years as senior vice-president and national sales manager with the firm.

His industry tenure spans several decades and includes 18 years in executive roles with Toronto-based Dynamic Funds.

“After 23 years focused on the asset management industry, I am very excited to lead a team of long-term colleagues and friends among the advisors and employees at iA Private Wealth,” Elliott said in a LinkedIn post.

He said he first started working with some of these advisors in 2000 under the DundeeWealth Inc. banner, and noted those relationships have endured throughout various acquisitions.

“I am a passionate believer and advocate in the value of independent advice provided by entrepreneurial financial advisors,” Elliott added, echoing Bourbonnais, who said in January and also February that iA Financial is focused on flexible service offerings for its independent advisors.

Elliott will remain as interim president and CEO of iA Clarington Investments until a replacement is chosen, working closely with Bourbonnais on iA Financial’s overall united wealth strategy.

The company confirmed in a mid-February email that, including its dealers, iA Financial Group had assets under management and administration of $196.2 billion at that time. For its fourth quarter ended Dec. 31, diluted earnings per share were $2.17, up 12% year over year. Net income attributed to common shareholders was $229 million, up 10% year over year.

Other industry moves this week included:

• Rohit Mehta will become president and CEO of Toronto-based Horizons ETFs Management (Canada) Inc. on May 1, succeeding interim CEO Jasmit Bhandal. Bhandal, who was appointed interim CEO in November following the abrupt retirement of Steve Hawkins, has been chief operating officer since October 2021 and will continue in that role.
• Charles-Antoine St-Jean, most recently a regional director with the International Accounting Standards Board’s IFRS Foundation, has been tagged as the first-ever leader of the Canadian Sustainability Standards Board. The three other initial members are: Bindu Dhaliwal, senior vice-president, ESG and corporate governance with CIBC; Alyson Slater, managing director and head of sustainable investment in Canada, public markets with Manulife Investment Management; and Raylene Whitford, chair of the Indigenous Advisory Council, TC Energy Ltd., as well as former partner, global Indigenous community of practice lead, with Deloitte Canada.
• Gregory Chrispin, who spent nearly 10 years in vice-president positions with Desjardins Group, is a board director for Montreal-based alternate asset manager Power Sustainable. He also serves on the board of Addenda Capital Inc. and PSP Investments (both based in Montreal).
• Ana Cláudia Akie Utumi has been named board chair of the Financial Planning Standards Board Ltd. for a two-year term, succeeding Garry Muriwai. Utumi, who has more than 30 years of experience in tax according to a release, has been involved with the FPSB board since 2018.

If you know of other people moves in the financial industry and/or would like us to consider your announcement, email Katie Keir at katie@newcom.ca.