TORONTO, Nov. 20 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX)
is pleased to announce that the Board of Directors of its investment dealer
subsidiary, MGI Securities Inc. ("MGI"), has appointed David Bird as President
and Chief Executive Officer, subject to regulatory approval. Mr. Bird has been
a Director of MGI since May 2007.
"MGI has recently completed a lengthy review of its operations, the
result of which has been a shift in strategic thinking and focus," said John
Stevens, Chairman of the Board of MGI. "We are very fortunate to have someone
of David Bird's calibre and experience to lead MGI and implement the new
strategy. We feel that his leadership will provide the stability that MGI
needs to succeed," Mr. Stevens added.
Mr. Bird is a seasoned executive in the North American capital markets,
with over 20 years of varied experience in financing both public and private
companies and proven executive skills in building and managing investment
dealer operations. From 1985 to 2000, he was first Executive Managing Director
of a large, bank-owned investment dealer, in charge of their Capital Markets
and Syndication groups, and then co-founded and served as Executive
Vice-President of their cross-border merchant banking program. From 2001 to
2004, Mr. Bird was a Director and Executive Vice-President of Capital Markets
of a large, independently-owned investment dealer, where he oversaw an
increase in Capital Markets revenues of approximately 500% in two years. Since
2004, Mr. Bird has been President of a privately-held investment company.
"As a Director of MGI for the last several months, I've come to
understand the strengths of MGI, as well as the challenges and opportunities
facing the company," said David Bird. "I'm very excited about this opportunity
to work directly with the MGI team and, together with the support of Jovian,
believe we can build a very successful company," he added.
Mr. Bird succeeds Lewis Reford as President and Chief Executive Officer
of MGI. The Board of Directors of Jovian and MGI wish to thank Mr. Reford for
About MGI Securities Inc.
MGI is a full-service investment dealer firm, providing a comprehensive
range of specialized services for institutional investors and wealth
management solutions for individual investors. With offices in Toronto,
Winnipeg, Calgary and London, Ontario, MGI employs more than 70 retail and
capital markets professionals.
About Jovian Capital Corporation
Jovian is a publicly-traded company listed on the TSX (JOV). Jovian is a
management and holding company with interests in a variety of financial
service firms specializing in wealth(*) and asset(xx) management. The Jovian
group of companies operates as a national financial services organization with
approximately $14.6 billion of client assets ($5.4 billion in assets under
management and $9.2 billion in assets under administration).
(*) Wealth management entities include MGI Securities Inc., MGI
Securities (USA) Inc. and Rice Financial Group Inc. (xx)Asset
management entities include BetaPro Management Inc., Horizons Funds
Inc., JovFunds Management Inc., JovFunds Inc., Leon Frazer &
Associates Inc. and T.E. Wealth. Financial corporate service entities
include Felcom Data Services Inc. and Services Felcom Data (Quebec)
Inc./Felcom Data Services (Quebec) Inc.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; and Mark Arthur, Vice-Chairman, MGI
Securities Inc., (416) 933-5754