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Blake C. Goldring Announces Decision to Transition to New Role as Executive Chairman

September 26, 2018 • Announcements

Kevin McCreadie named Chief Executive Officer and Judy Goldring named President

Today, AGF Management Limited (TSX: AGF.B) announced that Blake C. Goldring, CEO and Chairman for AGF, has made the decision to transition into a new role as Executive Chairman for the firm. Kevin McCreadie, President and Chief Investment Officer, has been named as his successor and Judy Goldring, Executive Vice President and Chief Operating Officer, has been named to President and Chief Administration Officer (CAO), effective December 1, 2018.

“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 Blake Goldring, Chief Executive Officer and Chairman, AGF Management Limited (AGF). “I also get enormous satisfaction knowing that the firm is positioned for success based on my strategic decisions and AGF team efforts spanning just over 20 years.”

AGF is positioned to take advantage of what the evolving investment landscape has to offer and boasts strength across its four distinct investment management platforms -- Fundamental, Quantitative, Alternatives and Private Client – each of which is experiencing organic growth from both the firm’s retail and institutional client distribution channels. In an earlier release today, AGF announced its assets under management (AUM) increased 11% to $38.8 billion compared to the same period in 2017, with growth achieved across all of our lines of business.

“I strongly believe in the power of change to drive long-term growth and innovation,” added Goldring. “Kevin is ideally suited to lead the new AGF given his extensive experience in investment management and his past four years of dedicated and proven leadership with AGF.”

“Kevin was brought on board as President and CIO with a strategic focus on driving change within AGF’s investment management platform,” said G. Wayne Squibb, Lead Director, AGF Board of Directors and board member since 2009. “Critical to his success was a multi-year on-boarding plan to fully integrate into the culture at AGF while balancing the need to reorient the team for future success. Given Kevin’s track record in firmly establishing disciplined processes to deliver consistent results we are confident in him as a natural successor to Blake.”  

“I am honoured to be appointed CEO for AGF at such a dynamic time for our company and industry. We are experiencing unprecedented and rapidly changing client and market environments,” said Kevin McCreadie, President and Chief Investment Officer, AGF. “I look forward to building on the momentum AGF is experiencing today while continuing to focus on strengthening our investment management capabilities and global reach, and driving growth and profitability throughout the business to deliver long-term value for our clients and shareholders.”

Over Blake’s more than 20 years in leadership, as President (in 1997) and subsequently as CEO (in 2000), the firm has grown from $12.8bn to $38.8bn with a more diversified footprint -- in 1997, almost 100% of the assets were held in its traditional retail mutual fund business ($0.4B held in segregated funds), whereas today AGF has established a more diversified business with 50% of the assets in retail, 47% in institutional and private clients assets and the remaining 3% in alternatives. Additionally, in 2000 AGF took important steps toward realizing its vision to becoming a global company by opening new offices around the world – today, AGF has 14 offices with over 60 Investment Management professionals across our offices based in North America, Europe and Asia. 

ABOUT AGF MANAGEMENT LIMITED

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and private client businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With nearly $39 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

 

Media Contact

Amanda Marchment
Director, Corporate Communications
416-865-4160
amanda.marchment@agf.com
MEDIA

Media Contact

Amanda Marchment
Director, Corporate Communications
Phone: 416-865-4160
Email: amanda.marchment@agf.com

Karrie Van Belle
SVP, Head of Marketing and Communications
Phone: 416-865-4320