TORONTO, March 4, 2014 /CNW/ - Sherry MacDonald, President and CEO of Canadian Scholarship Trust Foundation and CST Consultants Inc., announced today that Joe Spagnuolo has left his role as Chief Financial Officer and Treasurer of the organization in order to pursue new opportunities.
Mr. Spagnuolo has been with CST for over ten years in various capacities, having assumed the role of CFO in 2011. "I'd like to thank Mr. Spagnuolo for his years of dedicated service which has helped maintain the organization's sound financial position," said Ms. MacDonald, "and I wish him well in his future pursuits."
This announcement follows the recent transition of responsibility for management of client assets to Peter Bethlenfalvy, the organization's first Chief Investment Officer. "We take seriously our duty to ensure the protection of our client's assets," noted MacDonald, adding that Mr. Bethlenfalvy's addition to the team has ensured continuity in the management of the investment function within CST.
Ms. MacDonald has appointed veteran CST executive, Peter Lewis, VP Regulatory and Corporate Affairs, to provide day to day leadership to the finance function while she assumes accountability as CFO on an interim basis.
"We are in a strong financial position," Ms. MacDonald added, "and look forward to continuing to deliver on our mission as an organization, namely to help all Canadian families to have the resources to ensure their children are able to pursue higher education."
The Canadian Scholarship Trust Foundation is a non-profit organization that has been helping families save for post-secondary education for over fifty years. As a wholly-owned subsidiary of the Foundation, CST Consultants Inc. (CST) is the distributor and manager of the Canadian Scholarship Trust Plans.
Focused exclusively on growing and protecting its planholders' savings, CST currently manages $3.9 billion in assets for over 280,000 Canadian families. CST boasts a sales force of 575 located across the country. The Canadian Scholarship Trust Foundation offers its own awards for academic achievement and community engagement to those students in their Group Plans who are pursuing graduate studies.
SOURCE: CST Consultants
For further information:
Erin MacFarlane, Communications Coordinator
CST Consultants Inc.
(416) 445-7377 ext. 247