Gluskin Sheff Becomes Part of RBC Wealth Management

Gluskin Sheff is now a part of RBC Wealth Management, a significant development in the company's history. This move was announced in 2012.

The acquisition brought together two strong brands, creating a leading wealth management business in Canada. Gluskin Sheff's expertise in wealth management was a great fit for RBC Wealth Management.

RBC Wealth Management is a global leader in wealth management, with a presence in over 40 countries. This partnership has enabled Gluskin Sheff to expand its reach and services to a broader client base.

Onex Corp. has walked away from its strategy of expanding in private wealth, refocusing on its core business of managing private equity and credit funds.

The company will transfer its Gluskin Sheff private wealth teams to Royal Bank of Canada, which will offer jobs to about 40 Gluskin advisers.

Gluskin Sheff has about 160 employees, according to data provider PitchBook.

Onex bought Gluskin Sheff for about $330 million as part of an effort to broaden the reach of its private-equity and private-credit products beyond institutions.

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Onex has gathered $2 billion for its sixth flagship fund, of which $500 million came from third parties.

Among Onex’s investments are U.K. holiday park operator Parkdean Resorts, auto accessories maker Hopkins Manufacturing Corp., and WestJet Airlines Ltd.

RBC's wealth management unit will also allow the distribution of Onex-managed funds to its customers.

Onex president Bobby Le Blanc said the transfer represents an exciting step forward for the business, allowing the company to focus on investing, asset management, and product development.

Gluskin Sheff has a strong leadership team in place, with Dave Kelly serving as CEO since January 11, 2022.

Dave Kelly has been at the helm of the company for over a year now, bringing his expertise and experience to the role.

The company's executive committee is headed by Dave Kelly, with Daniel Edde serving as COO, though his start date is not specified.

The committee also includes Soma Choudhury as Compliance Officer, Peter Aaron Zaltz as Chief Investment Officer, who has been in the role since December 30, 2015, and Ashleigh Patterson as Sales & Marketing representative, though her start date is not provided.

Here's a brief overview of the executive committee:

Onex Corp. is transferring its Gluskin Sheff private wealth teams to Royal Bank of Canada, marking a significant shift in the company's strategy.

About 40 Gluskin Sheff advisers will be offered jobs by RBC's wealth management unit.

This move will allow RBC to expand its wealth management services and offer a wider range of products to its customers.

Gluskin Sheff has around 160 employees, according to data provider PitchBook.

RBC will also allow the distribution of Onex-managed funds to its customers, providing them with access to a broader range of investment options.

Onex president Bobby Le Blanc said the move represents an exciting step forward for the company, allowing it to focus on its core business of investing, asset management, and product development.

The deal marks a significant change in Onex's strategy, as it refocuses on its core business and winds down its wealth management operations.

The Executive Committee at Gluskin Sheff + Associates Inc is led by Dave Kelly, who took on the role of CEO in 2022. He reports directly to Bobby Le Blanc, the president of Onex.

Dave Kelly has been at the helm of Gluskin Sheff since January 11, 2022. Kelly's appointment as CEO marked a significant change for the company.

The Executive Committee also includes Daniel Edde, who serves as the Chief Operating Officer, but his start date is not specified. Peter Aaron Zaltz has been the Chief Investment Officer since December 30, 2015.

Here is a brief overview of the Executive Committee members:

Ashleigh Patterson is also part of the Executive Committee, but her role is Sales & Marketing, and her start date is not specified.

Gluskin Sheff made a significant change in 2011 when they were acquired by the Bank of Montreal. This acquisition brought about a new era for the company.

Gluskin Sheff's leadership team, including Chairman and CEO Brian Lawson, played a crucial role in navigating this transition.

At Gluskin Sheff, the investment strategy is guided by a disciplined approach to value investing. This means focusing on undervalued companies with strong fundamentals.

The firm's investment team thoroughly researches each potential investment, considering factors such as financial health, management quality, and growth prospects. They aim to identify companies that are trading at a discount to their intrinsic value.

Gluskin Sheff's investment strategy emphasizes long-term wealth creation over short-term gains. This approach allows them to ride out market fluctuations and capitalize on opportunities that may not be immediately apparent.

The firm's investment team has a deep understanding of the companies they invest in, which enables them to navigate complex market situations with confidence.

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