NexGen Appoints New CEO

Changes to Senior Management and Board of Directors Position NexGen for Growth

TORONTO, Sept. 8 /CNW/ - The Board of Directors of NexGen Financial LP today announced that Laurie Munro, President of the Company, has assumed the additional responsibility of Chief Executive Officer from Jim Hunter who is handing over his day-to-day executive responsibilities to assume the role of non-executive Chairman. Jim Hunter replaces Geoff Matus, who has served as Chairman of the Company since it was founded in 2006, and who now takes on the role of Vice Chairman.

In addition, the Company is pleased to announce the following appointments. Abe Goenka, CA, has been appointed as Senior Vice President and Chief Financial Officer adding to his current responsibilities as Chief Operating Officer. Jeffrey Young, CFA has been appointed to the position of Senior Vice President, Chief Investment Officer reflecting the increasingly senior role played by Jeff in providing oversight for NexGen's investment products. "These changes set NexGen on a clear course for the next stage of the Company's growth as we strengthen our distribution and marketing capabilities to support the tax efficient investment products that formed the foundation of our success as one of Canada's fastest growing fund management companies", said Jim Hunter, Chairman of the Board. "I am delighted that Laurie Munro, who has been instrumental in founding and building NexGen since its inception five years ago, has agreed to step into the role of CEO. As we prepare NexGen for our planned exchange listing in 2011, this change also provides me with the opportunity to step back from day-to-day management responsibilities", added Mr. Hunter.

"I have worked alongside Jim for the past 20 years and look forward to building on that experience to take NexGen to the next level of our growth as the fund manager of choice for investors seeking optimal returns with tax efficiency and flexibility", said Mr. Munro.

Also as part of this transition, Mr. Munro today announced the promotion of Chris Guthrie to Senior Vice President, Sales recognizing his outstanding contribution to the Company's sales efforts since 2006. Moira Saganski, a founding shareholder of NexGen, has relinquished her CFO responsibilities and will continue to work with the firm in fund administration. Mr. Hunter, Ms. Saganski and Mr. Matus will continue as major shareholders of NexGen and Messrs. Hunter and Matus will remain as directors of NexGen.

Overall responsibility for the strategic direction and operational management of the Company following these appointments remains with NexGen's Executive Committee comprised of Laurie Munro, President and CEO; Patrick Lincoln, Executive Vice President and General Counsel; Abe Goenka, Senior Vice President, CFO and COO; and Jeffrey Young Senior Vice President and Chief Investment Officer.

About Laurie Munro

Laurie Munro (56) is one of the founders of NexGen Financial and has served as the Company's President as well as Board member since the Company's formation in 2006. In this capacity, Laurie has been responsible for the sales, marketing and general management of the Company including the recruitment and training of the sales and marketing teams, the development and implementation of NexGen's branding strategy and the negotiation of all major dealer distribution agreements.

Prior to joining NexGen, Laurie worked for 15 years under Jim Hunter at Mackenzie Financial Corporation ultimately serving as the firm's Executive Vice President, Strategy and Business Planning where he was responsible for all planning and strategic initiatives.

He holds a Master of Business Administration, Marketing and Finance (1978) and a Bachelor of Business Administration, Marketing (1977) both from York University. He has served as the Past Chair of the Investment Funds Institute of Canada's Public Information Committee. Laurie lives with his wife, Patti and two children in Toronto.

About NexGen

NexGen was founded in 2006 by a team of experienced mutual fund experts led by Jim Hunter and Laurie Munro to provide investors and their advisors with greater flexibility and control in minimizing the tax impact associated with investment portfolio transactions. NexGen's patent pending fund structures have gained the support of more than 1,000 financial advisors and made NexGen one of the fastest growing fund management companies in Canada with more than $691 million in assets under management.

For further information: Laurie Munro, President and CEO at 416 775 3705 or [email protected]