TORONTO, Sept. 3, 2019 /CNW/ - Capital Group announced that Rick Headrick has joined the company as president of its business in Canada. Headrick will work closely with Mark Tiffin, the current president and general manager, to ensure a smooth transition and enable continued business success. Tiffin plans to retire at the end of the year.
Headrick has more than 20 years of industry experience, and most recently served as president of Sun Life Global Investments, Canada. In this role, he was responsible for growing the distribution of investment funds through financial advisors and institutional retirement plans across Canada. Prior to that, Headrick was vice president of Sun Life's International Investment Centre, where he established and led Sun Life's global wealth platform.
Prior to Sun Life, Headrick served as national defined contribution practice leader and legal consultant at Hewitt Associates, Inc.
"Canada is a vital market to Capital Group and Rick's leadership and deep experience in the financial services industry will be a good fit," said David Hummelberg, executive vice president and principal operating officer of Capital Group's North American Distribution business. "We're confident Rick will continue our growth — and help our clients invest successfully for the long term."
"I have known and respected Capital Group for decades and the opportunity of leading their Canadian business is a tremendous responsibility," said Headrick. "Throughout my career I have had opportunities to grow businesses within the Canadian market and to do that with Capital Group and maintain its special culture will be an honour."
"We are grateful to Mark for his distinguished service over the past 18 years," said Hummelberg. "Under Mark's stewardship, our Canadian business has grown significantly, supporting Capital Group's mission to improve people's lives through successful investing. Mark has established a strong foundation for the future."
Capital Group was recognized by Morningstar Canada as a "best-in-class steward" in a December 2017 report. Over the past decade, assets have grown significantly as financial advisors and investors have discovered Capital's distinctive investing approach, designed to deliver repeatable and consistent results across market cycles. Capital Group has also prioritized sharing its global economies of scale with investors: As its assets have grown, fees have declined, further contributing to results. This has been consistent with Capital Group's overall focus on helping investors achieve their long-term financial goals.
Headrick will be based in Capital Group's Toronto office.
About Capital Group
Capital International Asset Management (Canada), Inc. is part of Capital Group, a global investment management firm originating in Los Angeles, California. Since 1931, Capital Group has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. As of June 30, 2019, Capital Group manages more than US$1.9 trillion in equity and fixed income assets for millions of individual and institutional investors around the world. The Capital Group companies manage equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.
For more information, visit: www.capitalgroup.com/ca/en
SOURCE Capital Group Canada