Watch: Fiera Capital, Microsoft and Alimentation Couche-Tard

Couche-Tard was approached to buy EG Group in its entirety. (Photo: Getty images)

What to do with the securities of Fiera Capital, Microsoft and Alimentation Couche-Tard? Here are some recommendations from analysts likely to move prices soon. Note: the author may have a totally different opinion from that expressed.

Fiera Capital (FRZ, $9.39): Jean-Guy Desjardins returns as CEO

The board of directors of investment management firm Fiera Capital announced on Monday that Jean-Guy Desjardins, founder and executive chairman of the board of the company, has agreed to resume his role as chief executive officer, effective immediate.

Jean-Guy Desjardins succeeds Jean-Philippe Lemay, having ceded the position of Global President and CEO to him a year ago.

The return of the founder is also accompanied by other changes within the senior management:

John Valentini is appointed Executive Director, President and CEO of Fiera Private Markets. He will continue to lead the firm’s private markets platform and will also be responsible, together with the CEO, for the institutional markets and financial intermediaries distribution team.

Jean Michel is appointed Executive Director, President and Chief Investment Officer of Fiera Public Markets. Previously, he was Chief Investment Officer, Public Markets, and will now also lead the firm’s public markets platform, including the Portfolio Solutions team.

Peter Stock is appointed Executive Director and President of Fiera Private Wealth. He will continue to lead the firm’s private banking business in North America.

Lucas Pontillo is appointed Executive Director and Global Chief Financial Officer. He will continue to lead the company’s finance function and will now also be responsible for the company’s global operations and technology functions and the company’s enterprise risk management program.

Gabriel Castiglio is appointed Executive Director and Chief Legal Officer Global. He will continue to lead the Company’s legal and compliance functions and will now also be responsible for the global human resources function and the Company’s environmental, social and governance and investment initiatives. sustainable.

An executive management committee made up of Jean-Guy Desjardins and the five members of senior management mentioned above has also been set up.

Analyst Gary Ho, from Desjardins Securities, has a critical analysis of these appointments, believing that the position of CEO can be compared to a “revolving door” after the departures of Sylvain Brosseau in 2017, Vincent Duhamel in 2020 and Jean-Philippe Lemay this year.

“This shows the full influence of Jean-Guy Desjardins on society. That said, we believe the case is not settled. Let’s not forget that the founder turns 79 this year, we wouldn’t be surprised if more changes occur, at senior management, as part of a strategic review or through a sale or the spin-off from the alternative private equity division, which we see as the crown jewel of the business,” he says.

The analyst also notes that the executive committee has been reduced in size, from nine to six members.

Gary Ho reiterates his recommendation to “hold” Fiera Capital stock and its one-year target price of $9.50. The company will release its financial results for the fourth quarter of its fiscal year 2022 in February.

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