Mackenzie Investments has revealed its plans to replace outgoing executive vice president and chief investment officer (CIO), Tony Elavia, who is retiring from the company on Dec. 31, 2020.
With Mackenzie Investments for nine years, Elavia’s career spans 30 years in total, the outgoing CIO is credited with helping to build the firm’s boutique-style investment division, which covers all asset classes. The firm adds that 19 of its top 20 largest f-series mutual funds by assets are rated four or five stars by Morningstar Inc.
A two-CIO model
In conjunction with Elavia’s retirement, the company announced that it will institute a two-CIO model, “a new approach which reflects a growing trend in investment management,” the company announced in a statement. “The new structure will include one CIO dedicated to fixed income and multi-asset strategies and the other CIO dedicated to equities.”
Steve Locke, senior vice president, investment management and head of the Mackenzie fixed income team has been named the new CIO responsible for fixed income and multi-asset strategies. The firm says it will make an announcement to introduce its new CIO of equities in the coming weeks.
