Staff
Sadiq Adatia will be joining BMO Asset Management as its chief investment officer (CIO) on July 14 vacating his CIO role with Sun Life Global Investments, which he has held since 2011.
Adatia will be responsible for investment strategy and risk management at BMO, and will report to Kristi Mitchem, CEO of BMO Global Asset Management.
“Sadiq’s knowledge and expertise will help us deepen our overall advantage in wealth management and grow our asset management business,” said Mitchem in a statement. “We look forward to him taking on this important role.”
Before Adatia’s time with Sun Life Global Investments, he held investment roles with Russell Investments Canada and Mercer Canada. Adatia is a CFA Charterholder and is fellow of both the Society of Actuaries and the Canadian Institute of Actuaries.
IE Staff
Sadiq Adatia will be joining BMO Asset Management as its chief investment officer (CIO) on July 14 vacating his CIO role with Sun Life Global Investments, which he has held since 2011.
Adatia will be responsible for investment strategy and risk management at BMO, and will report to Kristi Mitchem, CEO of BMO Global Asset Management.
“Sadiq’s knowledge and expertise will help us deepen our overall advantage in wealth management and grow our asset management business,” said Mitchem in a statement. “We look forward to him taking on this important role.”
Before Adatia’s time with Sun Life Global Investments, he held investment roles with Russell Investments Canada and Mercer Canada. Adatia is a CFA Charterholder and is fellow of both the Society of Actuaries and the Canadian Institute of Actuaries.
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Alison MacAlpine
The average defined benefit pension plan saw its funded position continue to improve in April on a solvency and accounting basis, according to a new report by Morneau Shepell Ltd.
During the month, bond yields and credit spreads stabilized, although long-term bond yields increased slightly, negatively affecting long-term fixed income returns. Global equities performed well, rising 2.4 per cent as measured by Morneau Shepell’s world index.
Against this backdrop, the Canadian Institute of Actuaries released new guidance on solvency valuation assumptions in early May, with annuity purchase discount rate guidance that shrank the spread relative to Government of Canada bonds by 20 basis points.
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