Jay Bhutani, senior vice-president and head of ETF strategy, will be parting ways with the firm after a decade in senior executive roles.Brent Lewin/Bloomberg
The head of exchange-traded funds for AGF Management Ltd. will be leaving the company at the beginning of 2018.
Jay Bhutani, senior vice-president and head of exchange-traded funds strategy for AGF, will be leaving the firm after a decade in senior executive roles, including head of product, interim head of marketing and vice-president of business solutions.
AGF confirmed that Mr. Bhutani's last day with AGF will be Jan. 2, 2018, which will allow for a transition period.
Frederic Poitras, senior vice-president, head of retail sales will assume responsibility for the retail distribution of AGF's actively managed exchange-traded funds, under the AGFiQ brand, and the exchange-traded-funds business development team will join his retail sales team.
"Our AGFiQ investment platform, including our ETF business, is a critical part of our strategy going forward," said Kevin McCreadie, president and chief investment officer, AGF Investments Inc., in an e-mail to The Globe and Mail.
"To further align our business development efforts to our clients, we are streamlining our organizational structure to better deliver a 'one AGF' experience."
In addition, John Christofilos, senior vice-president and chief trading officer, will partner closely with AGF's institutional sales team to deliver exchange-traded funds to institutional clients with a focus on asset managers and maintain relationships with the firm's capital markets partners.
Mr. Bhutani took over the exchange-traded-funds platform in 2016, and played an important role in AGF's expansion into the exchange-traded-funds industry in early 2017.
In his role, Mr. Bhutani was responsible for leading the development and distribution strategies for the exchange-traded-funds platform in Canada, which currently has $336-million in assets under management in seven actively managed exchange-traded funds.
Prior to his time with AGF, Mr. Bhutani was a director with independent funds provider Altamira Investment Services Inc.
Clare O’Hara