Cumberland Private Wealth Management has a new chief investment officer after its existing CIO quit to join another money manager - said to be Sprott Inc.
John Wilson, a technology specialist who has been CIO at Cumberland since 2009, resigned to join another firm, a spokeswoman for Cumberland confirmed.
Sources said his destination is Sprott , which has steadily been broadening its list of managers and funds. The firm declined to comment.
At Cumberland, which runs about $1.6-billion of assets, Mr. Wilson will be replaced by Peter Jackson. Mr. Jackson currently runs Cumberland's Canadian equities portfolio.
Mr. Wilson, who had a background as a technology analyst at RBC Dominion Securities and UBS AG's Canadian office, also was Cumberland's point man on technology and telecom stocks.
Mr. Jackson is a 24-year veteran of money management who has been with Cumberland since 1999. In addition to Canadian equities, he runs an energy fund and a special opportunities fund.