Canadian investment industry recognizes the outstanding contributions of Ray Chang
TORONTO, Nov. 27, 2014 – The late G. Raymond Chang, a leader of CI Financial Corp. for three decades and a noted philanthropist in Canada and his native Jamaica, has been named the recipient of Morningstar Canada’s Career Achievement Award. The award, which recognizes an individual who has made an outstanding lifetime contribution to the investment community, was announced at last night’s Morningstar Awards gala in Toronto.
“In addition to being an accomplished businessman, Ray was a kind and thoughtful person who generously gave his time and money to numerous causes,” said William T. Holland, Chairman of CI Financial. “This award is a fitting tribute to Ray, although he was motivated solely by a desire to help others and not by any need for personal recognition.”
Mr. Chang joined CI Financial in 1984 as Chief Operating Officer and provided the company with 30 years of dedicated service in roles that included President, Chief Executive Officer and Chairman of the Board. He remained involved in the company as a Director until his death in July 2014 at age 65. During his tenure, CI Financial grew from a small money manager with $5 million in assets under management to one of Canada’s three largest investment fund companies with total assets of $130 billion.
“Ray helped to lay the foundations for CI’s success and inspired an entrepreneurial culture that continues today,” said Mr. Holland. “He guided CI through its early years as a public company as CEO and continued to provide valued advice as Chairman and Director.”
Mr. Chang’s philanthropic contributions were extensive and focused on education, health care and entrepreneurship in Canada and Jamaica. The many organizations that he supported included the Toronto General & Western Hospital Foundation, the Centre for Addiction and Mental Health, the Royal Ontario Museum, the University of the West Indies and St. George’sCollege, Jamaica. He was a significant supporter of Ryerson University, where the G. Raymond Chang School of Continuing Education was named in his honour. He also served as Chancellor of Ryerson from 2006-2012. Mr. Chang was named an Officer of the Order of Canada in 2014 and to the Order of Jamaica in 2011, and he received Honorary Doctorates from Ryerson and the University of the West Indies.
Also at last night’s awards ceremony, CI Investments was the recipient of the award for Best Specialty Equity Fund for CI Global Health Sciences Corporate Class. This is the second year in a row that the fund, managed by Andrew Waight of Altrinsic Global Advisors, has been named the winner in its category.
About CI Investments – Canada’s Investment Company
CI Investments Inc. is one of Canada’s largest investment management companies. It offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with approximately $130.6 billion in assets as of October 31, 2014.