“This structure ensures the continuation of a relationship that has created significant value for the company’s customers and shareholders for more than 12 years,” Fiera Capital said in a statement.
As a Canadian company, Stonepine is in the process of registering as a portfolio manager and / or investment advisor with Quebec’s Autorité des Marchés Financiers, other Canadian securities regulators and the US Securities and Exchange Commission.
In its subsidiary advisory relationship with Fiera Capital, StonePine will oversee investment decisions relating to the global, EAFE (Europe, Australasia and Far East) and US equity strategies that Rizk and his team are currently managing.
“We are excited to develop a structure that will enable Nadim to continue creating value for Fiera Capital clients and shareholders on economic terms similar to the existing agreement, while also allowing Nadim to express his ambition to to run an independent company. “A company with its own identity,” said Jean-Guy Desjardins, CEO and Chairman of the Board of Fiera Capital.
“We believe the agreement is an excellent outcome for everyone involved and is the result of Fiera Capital’s strategic planning and risk management,” said Jean-Philippe Lemay, global president and COO of the company. “Maintaining our value proposition to our customers and shareholders is of the utmost importance to Fiera Capital and with this agreement we are confident that this has been effectively maintained while maintaining a strong alignment of economic incentives.”