Canada Life announced today that it has increased its ownership of Laketon Investment Management Ltd., from 40% to 100%.

Laketon, based in Toronto, manages over $5.6 billion in assets for a wide variety of institutional and individual clients.

Alex Macdonald has been appointed president of Laketon, effective immediately. Macdonald has been a member of Canada Life’s Investment Division since 1989 and a director of Laketon since early 2002.

“We look forward to working with Laketon as we build Canada Life’s segregated fund business,” said Raymond McFeetors, president and CEO of Canada Life, in a news release.

In addition to growing its Canada Life segregated fund business, Laketon will continue to build on its pension, separately managed account/WRAP program and private client businesses.