Toronto-based Foresters Asset Management Inc. (FAM) has named Suzann Pennington as its chief investment officer (CIO) on Wednesday.
In her new role at FAM, Pennington will manage the firm's investment strategies, which include everything from equity and fixed-income to asset allocation. In addition, she is expected to collaborate with Foresters' U.S. team on the firm's wider research efforts.
Pennington brings more than 30 years of industry experience to her new role at FAM. She has held executive and senior roles at CIBC Global Asset Management (CIBC GAM), serving as its CIO, managing director and head equities.
Pennington was responsible for supervising CIBC GAM's entire portfolio-management operations and research efforts as well as managing the Canadian all-cap equity mandates, the announcement states.
Prior to that, she also served in senior roles with Mackenzie Financial Corp. and in an executive capacity with Howson Tattersall Investment Counsel Ltd. and Sceptre Investment Counsel Ltd.
"Having the benefit of [Pennington's] expertise and leadership will help to provide additional investment ideas and strategies, and most importantly, continue to provide enviable investment returns to our clients," says Greg Ross, president and CEO at FAM, in a statement.
Pennington replaces and reports to Ross, who had been promoted to CEO at the firm.
She earned a bachelor of arts in math in actuarial science and statistics at the University of Waterloo. She also holds a certified financial analyst designation and serves as a member of the 30% Club of Canada's investor steering committee.
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