CIBC hires former CI resources manager Scott Vali

Morningstar Canada 12 August, 2014 | 4:26AM
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Effective today, management of CIBC's resources, precious metals and energy funds has been brought in-house under a newly hired lead manager. Taking charge is Scott Vali, who joins CIBC Asset Management Inc. after having previously managed resources mandates for CI Investments Inc.

Vali begins his first day on the job in the lead role for CIBC Precious MetalsCIBC Canadian ResourcesCIBC Energy and Renaissance Global Resource.

The Vali-led team replaces Toronto-based Front Street Investment Management Inc. on these funds. Assisting Vali on the precious-metals fund is co-manager Lawrence Smith, a mining specialist. The energy fund will be co-managed by energy specialist Brian See.

Vali's resources expertise broadens CIBC's capabilities "in an important segment of the investment landscape," said Steve Geist, CIBC Asset Management president and CEO, in announcing the appointment. "This significantly strengthens our resource-based offer to Canadian retail investors as well as creates expanded opportunities for our institutional clients globally."

Vali, who joined CI in 2000 as an equity trader and later became an analyst and then a portfolio manager, was with CI's Signature Global Asset Management division. The funds that he managed at the time of his departure in July included CI Signature Global Resource and CI Signature Global Resource Corporate Class.

Eric Bushell, chief investment officer of Signature Global Asset Management, is now managing CI's resource funds, with assistance from Signature team members who include four analysts dedicated to the resource sectors.

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