Chief Economist & Strategist David Rosenberg Starts at Gluskin Sheff + Associates Inc.

          Firm to launch economic reports featuring David Rosenberg

    TORONTO, May 13 /CNW/ - David Rosenberg, one of North America's leading
economists, has begun his appointment as Chief Economist & Strategist at
Gluskin Sheff + Associates Inc., a Toronto-based wealth management firm.
    "We are thrilled to welcome David Rosenberg to the Gluskin Sheff team,"
stated Jeremy Freedman, Deputy Chief Executive Officer. "David is a great
addition to our investment team, which we believe is the strongest in our
25-year history. Despite the current difficult economic environment, we
continue to invest in building our platform for the benefit of our clients."
    "The past year has highlighted that understanding macro-economic trends
has never been more important than it is today. Having David as part of our
investment team is a terrific marriage of the skills which have led to our
long-term track record of successfully identifying undervalued individual
securities with David's proven ability to analyze and foresee global trends
and opportunities", Freedman added.
    "I am thrilled to join the Gluskin Sheff team - a team I have known for
years," said David Rosenberg, Chief Economist & Strategist. "I chose to join
Gluskin Sheff because of the Firm's unique and attractive wealth management
platform, which includes close client relationships, a strong long-term track
record and a diversified offering of investment strategies."
    David Rosenberg is well known for his widely read economic commentaries,
which offer insights into market trends. David was one of the first economists
to warn of a U.S. housing market collapse and the ensuing consumer and
financial market meltdowns. Gluskin Sheff will continue David's commentaries
in the form of regular economic reports. To receive Gluskin Sheff's economic
reports, please visit
    Rosenberg joins Gluskin Sheff from his previous position as Managing
Director, Chief North American Economist of Bank of America and former Chief
North American Economist of Merrill Lynch. Prior to joining Merrill Lynch,
David held senior positions at the Bank of Canada, BMO Nesbitt Burns and the
Bank of Nova Scotia. At Gluskin Sheff, David will report to William (Bill)
Webb, the Company's Deputy Chief Investment Officer.
    Rosenberg has been recognized for his leadership and achievements in his
field. He has ranked first in economics in the Brendan Wood International
Survey for Canada for the past seven years. He was also on the U.S.
Institutional Investors All American All star team for the last four years,
placing second in the 2008 survey.

    Founded in 1984, Gluskin Sheff + Associates Inc. is one of Canada's
pre-eminent wealth management firms serving high net worth private clients and
institutional investors. Gluskin Sheff offers equity and fixed income
investment portfolios in addition to being one of the largest managers of
alternative investments in Canada. The Company's Subordinate Voting Shares are
listed on the Toronto Stock Exchange under the symbol "GS". For more
information about the Company, please visit our website at

    To receive Gluskin Sheff's economic reports featuring David Rosenberg,
    visit our website at

For further information:

For further information: Media enquiries: (416) 681-6033

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