Mackenzie Investments has cut about 50 jobs, including senior executive roles, as part of a restructuring by new CEO Luke Gould. Read on.
The reductions at one of Canada’s largest mutual fund managers came in two rounds, according to the people, speaking on condition they not be identified because they aren’t authorized to discuss the matter. The first involved executives including Michael Schnitman, the head of alternative investments, and Michael Cooke, head of exchange-traded funds.
“After conducting a review, we have made changes to our organization over the last two months to simplify our leadership structure, position Mackenzie for continued growth and continue to provide investment excellence and strong client outcomes,” the firm said in an emailed statement to Bloomberg.Article content
The restructuring aims to reduce duplication and consolidate assets under fewer people, one of the people said.
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