TORONTO, June 4 /CNW/ - Gluskin Sheff + Associates Inc. (the "Company") announced today that it has entered into lease arrangements with Brookfield Properties which will result in the Company's move of its head office to the top two floors of the new Bay Adelaide Centre located in downtown Toronto. The move from the Company's current location at Brookfield Place in Toronto will take place on or before November 1, 2011. The Company will occupy approximately 50,000 square feet in the new premises which will be designed by the architectural firm of Kuwabara Payne McKenna and Blumberg. "We are very excited about our upcoming move to two floors of the Bay Adelaide Centre. Our new space will allow us to consolidate the space we currently occupy in Brookfield Place and will accommodate our future growth," said Gerald Sheff, Chairman, Co-Founder and Chief Executive Officer.
The Company also announced today that it is implementing the final phase of its previously announced transition and succession plan. Gerald Sheff, Chairman, Co-Founder and Chief Executive Officer (CEO) will relinquish his CEO responsibilities on June 30, 2010, the end of the Company's current fiscal year. Jeremy Freedman, the Deputy Chief Executive Officer, will become the Company's President and Chief Executive Officer at that time. Both Mr. Sheff and Mr. Ira Gluskin, the former President and Chief Investment Officer (CIO) of the Company, will continue to provide support and continuity to the Company's new leadership. Mr. Sheff will continue to serve the Company as Co-Founder and Chairman of the Board of Directors. Mr. Gluskin continues to serve the Company as Co-Founder and Vice Chairman of the Board of Directors. "The end of our current fiscal year, along with today's announcement of our planned future move to the Bay Adelaide Centre, makes this an opportune time to complete what has been a long-term transition and succession plan. Ira and I have great confidence in Jeremy, our incoming President and Chief Executive Officer and Bill Webb, the Company's Chief Investment Officer, and their entire management team. We fully expect that they will continue to build successfully on the twenty-six years that Ira and I have been responsible for the Company's stewardship," said Gerald Sheff.
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 www.gluskinsheff.com.
SOURCE Gluskin Sheff + Associates Inc.
For further information: For further information: Valerie Barker, Chief Financial Officer and Secretary, (416) 681-6002