(February 8 – 12:00 ET) – Vancouver-based fund dealer consolidator BRM Capital Corp. is proposing to change its name and boost its option plan.

According to the firm’s proxy circular, BRM is seeking approval to change its English name to Cartier Partners Financial Group Inc. Its French name will be Groupe Financier Partenaires Cartier inc.

The firm, which assembled a series of fund dealers into one big company through a series of quick acquisitions is 72% controlled by Cartier Capital Limited Partnership. Cartier Capital’s limited partners are Phimax Inc. and Services financiers CDP Inc., a subsidiary of the Caisse de dépôt et placement du Québec. The shareholders of Phimax Inc. are Jean Dumont and Jean Morissette of Cartier Capital, Marc St-Pierre and Patrick Lincoln.

The proxy states, “During the most recently completed financial year, the corporation has acquired several firms, each operating as a separate dealer, sometimes in different geographical regions. Each of the firms has established substantial goodwill through the branding of its name and services. It is the corporation’s intent to integrate these dealer firms into a single national financial services firm. To achieve that goal, management of the corporation believes that a common name must be utilized to ensure effective branding of the corporation’s products and services.”

BRM is also seeking to boost the number of shares reserved for options grants from 18,626,430 to 33,733,017, or about 20% of outstanding shares. The firm says that it has issued about 15.4 million options in the last year, 95% of them to advisors based on aggregate assets under administration in their clients’ accounts.

The proxy gives few details concerning executive compensation. It reports no specific amounts for the company’s top executives, saying only that the aggregate cash compensation paid to the 12 executive officers of the corporation was $3,317,862, comprised of $1,747,288 in salaries, $311,562 in bonuses and $1,259,012 in commissions. The commissions are divided among five reps who are also executive officers.
-IE Staff