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Mackenzie Investments Announces Chief Investment Officer Succession Plan

CNW Group - Wed Nov 18, 7:01AM CST

Mackenzie Investments Announces Chief Investment Officer Succession Plan

Canada NewsWire

After a 30-year career Tony Elavia announces intention to retire on December 31 st

TORONTO , Nov. 18, 2020 /CNW/ - Mackenzie Investments ("Mackenzie") today announced the succession plan for Tony Elavia , Executive Vice-President and Chief Investment Officer ("CIO").  Mr. Elavia has communicated his intention to retire on December 31, 2020 following a 30-year career in financial services, including nine years at Mackenzie.

"On behalf of the entire Mackenzie team I want to congratulate Tony on his distinguished career and thank him for all his hard work, passion and dedication over the past nine years in helping set our firm up for success," said Barry McInerney , President and Chief Executive Officer, Mackenzie Investments . "Tony drove positive change and performance improvements across our fund management team.  He has also played a key role in contributing to Mackenzie's success in delivering institutional quality processes and solutions to our clients."  

Mr. McInerney noted that Mr. Elavia has been instrumental in helping build a 15-boutique investment division which covers all asset classes and leaves with 19 of the firm's top 20 largest mutual funds by assets (95 per cent) rated 4-5 star by Morningstar (F series). 

"I want to thank the senior leadership and investment teams at Mackenzie Investments for all their support and hard work over the past nine years," said Mr. Elavia.  "Mackenzie is a special place and I've really enjoyed my time here.  I have full confidence in the team's ability to build on the progress we've made and look forward to working with everyone over the next month to ensure a smooth and well executed transition."

In conjunction with Mr. Elavia's upcoming retirement, the company announced it will institute a two CIO model, a new approach which reflects a growing trend in investment management. The new structure will include one CIO dedicated to Fixed Income and Multi-Asset Strategies and the other CIO dedicated to Equities.

Steve Locke , Senior Vice-President, Investment Management and Head of the Mackenzie Fixed Income Team, has been named the new CIO responsible for Fixed Income and Multi-Asset Strategies. 

Mr. Locke has more than 25 years of experience in the financial services industry, including 12 years with Mackenzie Investments where he has won several FundGrade A+ Awards® and Lipper Fund Awards for performance, all while growing the firm's Fixed Income boutique from $10B to $60B in AUA, with more than 20 Morningstar 4-5 star rated funds (F series) and ETFs across fixed income and balanced categories. He will continue his duties leading the Fixed Income Team, with no changes to fund strategies.

Mr. Locke's career in the investment industry began in 1994. He joined Howson Tattersall Investment Counsel in 2003.  The company became part of Mackenzie Investments in 2008. Prior to 2003, his work experience included five years managing insurance, pension, and retail segregated fund portfolios in Canada , as well as several years as a credit analyst and bond trader. 

"I'm excited to take on this new role and want to thank Tony for all his years of guidance and leadership," said Mr. Locke.  "I look forward to working with this award-winning team to drive continued momentum and business continuity, and build off our existing success across fixed income, multi-asset and global quantitative boutiques for our clients."

The firm will be making an announcement on the new CIO of Equities in the coming weeks. 

©2020 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

About Mackenzie Investments
Mackenzie Investments  ("Mackenzie") is a leading investment management firm with $144.5 billion in assets under management as of October 31 , 2020. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston , Dublin , London , Hong Kong and Beijing . Mackenzie is a member of IGM Financial Inc. (TSX:IGM.TO), one of Canada's premier financial services companies with approximately $193 billion in total assets under management as of October 31, 2020 . For more information, visit .

SOURCE Mackenzie Investments

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