In Tuesday's morning trading, shares of Fiera Capital experienced a 9.8% plunge, marking a significant 43% annual decline. This comes amid a leadership overhaul in the company as it seeks to fortify its presence in the U.S under a regionalized distribution model.
Eric Roberts has been appointed to lead the U.S marketing and distribution teams as Fiera USA's CEO. The appointment of Roberts is part of a strategic move aimed at strengthening Fiera's foothold in the U.S. market.
Earlier this year, Founder Jean-Guy Desjardins resumed his role as CEO to steer this transformation. Alongside him, Klaus Schuster and Rob Petty have been entrusted with the leadership of Europe, the Middle East, Africa, and Asia respectively. The company is currently on the lookout for a Canadian CEO.
In addition to the leadership changes, Fiera reported a dip in its assets under management from C$164.2 billion in June to C$155.3 billion by the end of September. This decrease in assets under management represents another challenge the company is facing alongside its restructuring efforts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.