TORONTO, May 1, 2013 /CNW/ - AGF Management Limited (AGF) announced today that Ian O. Ihnatowycz has advised AGF that he is stepping down from his position on AGF's Board of Directors, effective May 7, 2013, in order to pursue other opportunities.
"I've really enjoyed working with the members of AGF's board since the purchase of Acuity over two years ago. I'm proud of the organization we've built and the progress we've made," said Ian Ihnatowycz.
"Ian has been a very involved and passionate member of the Board," said Blake C. Goldring, AGF's Chairman and Chief Executive Officer. "Ian's leadership and guidance through the integration of Acuity has been invaluable. I wish him all the best in the future."
Ian Ihnatowycz is the President and CEO of First Generation Capital Inc., a private investment holding company. Formerly President and Chief Executive Officer of Acuity Investment Management Inc. and Acuity Funds Ltd., Mr. Ihnatowycz founded Acuity in 1990 to provide discretionary asset management for pension, foundation and private clients as well as mutual and pooled funds. Acuity was acquired by AGF in 2011. Ian has served on the boards of numerous not-for-profit and professional organizations and private companies. He is currently a member of the Board of Directors of Zymeworks Inc., Myca Health Inc. and the Royal Conservatory of Music, is Chair of the Royal Conservatory Council, and a member of the Ivey Advisory Board, the Ian O. Ihnatowycz Institute for Leadership Advisory Board of the Ivey Business School, Western University and a member of the Investment Advisory Committee of Imperial Capital Acquisition Fund V. Mr. Ihnatowycz has recently received an Honourary Doctor of Laws degree from Western University.
About AGF Management Limited
AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. With over $38 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
AGF Management Limited shareholders and analysts, please contact:
Robert J. Bogart
Executive Vice-President and Chief Financial Officer
416-865-4264, bob.bogart@agf.com
Michael Clabby
Vice-President, Corporate Development
416-815-6275, michael.clabby@agf.com
Caution Regarding Forward-Looking Statements
This release includes forward-looking statements. Forward-looking
statements include statements that are predictive in nature, depend
upon or refer to future events or conditions, or include words such as
'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative
versions thereof and similar expressions, or future or conditional
verbs such as 'may,' 'will,' 'should,' 'would' and 'could.'
Forward-looking statements are based on certain factors and
assumptions, including expected growth, results of operations, economic
factors, business prospects, business performance and opportunities.
While the company considers these factors and assumptions to be
reasonable based on information currently available, they may prove to
be incorrect. Forward-looking statements are not guarantees of future
performance, and actual events and results could differ materially from
those expressed or implied by forward-looking statements due to, but
not limited to, important risk factors such as level of assets under
management, volume of sales and redemptions of investment products,
performance of investment funds and of investment managers and
advisors, competitive fee levels for investment management products and
administration, and competitive dealer compensation levels and cost
efficiency in our investment management operations, as well as interest
and foreign-exchange rates, taxation, changes in government
regulations, unexpected judicial or regulatory proceedings, and the
company's ability to complete strategic transactions and integrate
acquisitions. The company cautions that the foregoing list is not
exhaustive. The reader is cautioned to consider these and other factors
carefully and not place undue reliance on forward-looking statements.
Forward-looking statements are given only as at the date of this
release and other than specifically required by applicable laws, the
company is under no obligation (and expressly disclaims any such
obligation) to update or alter the forward-looking statements, whether
as a result of new information, future events or otherwise. Additional
risks and uncertainties can be found in our MD&A for the fiscal year
ended November 30, 2012 under the headings "Caution Regarding
Forward-Looking Statements" and "Risk Factors and Management of Risk"
and in our other filings with Canadian securities regulatory
authorities.
SOURCE: AGF Management Limited
AGF Management Limited shareholders and analysts, please contact:
Robert J. Bogart
Executive Vice-President and Chief Financial Officer
416-865-4264, bob.bogart@agf.com
Michael Clabby
Vice-President, Corporate Development
416-815-6275, michael.clabby@agf.com