Natixis CIO and co-CEO resigns

Morningstar Canada 13 May, 2016 | 5:00PM
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Natixis Global Asset Management (Natixis) Canada confirmed today that chief investment officer and co-CEO Jeff Young has resigned, effective May 20.

Young's tenure dates back to September 2005, when he joined the firm's predecessor, NexGen Financial. The Paris-based Natixis organization acquired NexGen in December 2014.

Young's portfolio-manager responsibilities for the NexGen Canadian Dividend and NexGen Canadian Diversified Income mandates will be assumed internally by Kyle D’Silva. Jeff Herold of J. Zechner Associates Inc. remains the sub-advisor for the fixed-income and preferred-share portions of the latter fund.

Natixis's investment committee is currently searching for a new CIO. Abe Goenka, who has been co-CEO with Young since 2014, has been appointed as the sole CEO. Goenka has been with Natixis Canada and its predecessor NexGen since 2007.

Young is pursuing an opportunity with another investment firm, a Natixis official said. No other details were immediately available.

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