announcement
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Each week, we summarize notable moves across the financial industry.

  • Stéphan Morency has been appointed president and CEO of Fondaction and of the Bâtirente and Fondaction Combination, effective April 13. Morency, who brings 25 years of experience to the role with a focus on sustainable finance and impact investing, will succeed Geneviève Morin, who is retiring after more than three decades with Fondaction and participated in its creation in 1996. Morency joined the Quebec-based, labour sponsored investment fund 16 years ago as a portfolio manager, moving into progressively more senior positions since then, including five years spent as chief investment officer. He’s currently executive vice-president, strategy and planning, and has been executive chairman of Fondaction Gestion d’actifs since 2022.
  • Michelle Foster has been appointed director, advisor and firm experience in insurance operations at Sun Life, a new role where she’ll be working with advisors, firms and MGAs. She’s had several director-level roles since joining Sun Life in 2018, most recently with responsibilities in high-net-worth new business and underwriting.
  • France Kingsbury has been named chief legal and compliance officer at PWL Capital. Kingbury joins the firm after two years with iA Private Wealth, including one year as chief compliance officer and vice-president. She brings 20 years of experience on the regulatory side, including seven years as regional director, regulation at the Canadian Investment Regulatory Organization’s predecessor Investment Industry Regulatory Organization of Canada, and over more than a decade in various roles with Autorité des marchés financiers. The appointment is subject to approval by CIRO.
  • Amit Prakash has stepped down as chief fiduciary management officer and chief investment strategy officer at Alberta Investment Management Corp. after more than five years. Prakash has 40 years of industry experience, starting with Barclays Global Investors, BlackRock Inc., and then with Bank of Montreal as managing director and head of asset management, Asia, and as managing director of multi-asset and alternative investments for BMO Global Asset Management. He did not announce his next steps.
  • Billy Snider has joined Sapling Financial Consultants as head of New York partnership, and building on the firm’s U.S. expansion efforts, after it opened an office in Atlanta last year. Snider brings more than 20 years of experience across financial services and other industries in sales, marketing and business development to the role. He was most recently head of marketing and investor relations at Novatus Capital.
  • Sandy Sanders has joined CIBC as a senior portfolio manager after more than 14 years with Manulife Investment Management. Based in the U.S., Sanders brings close to 30 years of industry experience, and will lead the development and management of active U.S. equity strategies.

If you know of other people moves in the financial industry and/or would like us to consider your announcement, email Alisha Hiyate at alisha.h@newcom.ca.