Richard McIntyre started his new role as Harbourfront Wealth Group's chief executive officer this week.SARA KARDOONI PORTRAITS/Supplied
On the Move is Globe Advisor’s roundup of recent hires and departures across Canada’s financial services industry.
One of the first things Richard McIntyre did after landing his new job as chief executive officer at Harbourfront Wealth Management Inc. was to buy a new bicycle.
It’s a bit of a ritual for the financial services executive, who has spent the past three decades in various leadership roles at divisions of Manulife Financial, Dundee Corp., Bank of Nova Scotia and Standard Life.
“Whenever I start a new job, I always buy a new bike,” says Mr. McIntyre, who started his new gig on Monday.
He’ll remain in Ontario and travel back and forth – by plane – to Harbourfront’s headquarters in Vancouver, as well as to its other offices across Canada and in the U.S.
He will use his new bike, a Cervelo Aspero, to travel 25 kilometres each way from his home in Mississauga to Harbourfront’s office in Burlington, Ont., during the warmer months.
“I’m very happy with it,” he says of the bike. “It’s the only way I can get some exercise... It’s also a chance to think and unwind a bit. ... It’s a really good part of my mental health as well.”
Mr. McIntyre says he was approached earlier this year to take the helm at Harbourfront after receiving a call from its founder and now former CEO, Danny Popescu.
“He said, ‘Hey, we’re really looking to grow this business and we’re looking for some support and help in doing that,’” Mr. McIntyre recalls.
“[We] chatted about my background and what I’ve done in this particular industry historically and it went from there.”
Mr. Popescu is now executive chair at Harbourfront and, according to a release, “will remain actively involved in shaping the firm’s long-term strategy” and “continue to lead the firm’s M&A initiatives.”
Mr. McIntyre was raised in Scotland and worked at Standard Life’s head office in Edinburgh. He moved to Montreal in 2000 as part of a Standard Life executive exchange program and has remained in Canada ever since.
He says a common theme throughout his career has been helping advisors grow and improve their businesses.
“I really like the advisory space. I really like the independent side of it,” he says. He describes it as a “noble pursuit,” dealing with families and the ups and downs in their lives.
“It’s a stressful occupation for advisors to have those relationships for multiple decades and multiple generations – and then be able to deliver day in and day out. It’s such an important role, I believe, and I’m very proud to be part of the industry.“
He described Harbourfront as “advisor-centric” and “a natural move” at this stage of his career, following four years as CEO of Manulife Wealth.
“This wasn’t really about leaving something, it was about moving toward something,” he says.
Harbourfront has about $16-billion in assets under advisement, with 60 advisor teams and about 600 employees. Mr. McIntyre says the firm is aiming to reach $25-billion in assets by the end of the year, citing “deals in motion” it believes will help it achieve that goal.
“Harbourfront is at a point in its journey where there’s this real opportunity to build and scale, and that’s something I’m kind of naturally drawn to,” he says.
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Brett Marchand has taken over as president and CEO of Manulife Wealth after the recent departure of Richard McIntyre. Mr. Marchand was previously senior vice-president and head of Canada retirement at the firm. Erica Hall, head of client relations of Canada Retirement, will lead that business on an interim basis while a search is underway to fill Mr. Marchand’s role, Manulife said in a release earlier this month.
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John Porter has been appointed chief investment officer (CIO) at AGF Investments Inc., starting on May 1. He will report to AGF Management CEO Judy Goldring and join the firm’s executive management team, the company stated in a release.
Mr. Porter most recently served as CIO at BNY Investments’ Newton Investment Management.
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RBC Insurance announced that Dennis Craig will retire at the end of June after a 45-year career. Mr. Craig has held senior leadership roles across domestic and international insurance carriers, including North American Life, New York Life, Gerling Global Life, and Westbury Life/RBC Insurance, the company said in a release. He joined Westbury Life in 1997 as senior vice-president of marketing, later transitioning to roles in operations and distribution. Most recently, he served as head, brokerage distribution, MGA and National Accounts. He will be replaced by Jonathan Schjott, currently regional vice-president, central region, individual brokerage.
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Tiffany Harding recently returned to Royal Bank of Canada as head of wealth and estate planning services with Michael Yhip Wealth Partners at RBC Dominion Securities Inc.
“Six years ago, I left RBC. At the time, I did not know exactly where the journey would lead, only that there was more to learn. I’ve now returned, and the experiences in between are exactly why it makes sense,” Ms. Harding wrote in a LinkedIn post.
She left in 2019 to join Gluskin Sheff + Associates Inc. as head of wealth planning and then moved to Manulife Wealth as associate vice-president, head of practice management and wealth planning services. She also worked at Richardson Wealth Ltd. and Barometer Capital Management before rejoining RBC last month.
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PWL Capital Inc. announced that the financial planning and portfolio management team at Vancouver-based Macdonald, Shymko & Co. Ltd. has joined its firm. “This addition marks a significant step in PWL’s continued national expansion, including the establishment of a PWL office in Vancouver, further strengthening its coast-to-coast platform,” PWL stated in a release.
PWL noted the latest announcement follows its recent acquisition of EB Wealth, Financial Wealth Builders and TCM Financial Studios.
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Recently switched firms? Got a big promotion? Left to start your own firm? Or retired to start that side hustle (even if in another sector)? Send the details to:bbouw@globeandmail.comand put “On the Move” in the subject line. We look forward to hearing about your next chapter.