Canada Life’s Jeff Macoun stepping down

Leading insurance and wealth management provider will see new president and COO by mid-February

Canada Life’s Jeff Macoun stepping down

Canada Life, a leading Canadian financial and wealth services provider and subsidiary to Great-West Lifeco, has telegraphed a key change to its C-level leadership.

Canada Life has announced that Jeff Macoun, a multi-decade veteran of the financial services industry, is stepping down from his role as president and COO of the firm’s Canadian operations.

Macoun’s six-year leadership stint caps off his long tenure with the firm spanning more than 40 years.

Fabrice Morin, who’s currently executive vice-president of Individual Wealth And Insurance Solutions, will be stepping up as Macoun’s successor, taking executive responsibility for Canada Life's Canadian operations and join the executive management committee of Great-West Lifeco.

Read more: Canada Life completes wealth offering trifecta with Value Partners acquisition

"On behalf of the Board of Directors and our entire organization, I want to thank Jeff for his vision, passion and leadership," Paul Mahon, president and chief executive officer of Great-West Lifeco and Canada Life said in a statement.

"During a long and distinguished career Jeff has made significant contributions across our Canadian business. I am particularly grateful for his impact as President, Canadian operations,” Mahon said.

As president and COO, Canada of Canada Life, Macoun oversaw numerous pivotal transitions, including the establishment of the single Canada Life brand and navigating the historic COVID-19 pandemic crisis.

More recently, he presided over Canada Life’s acquisition of Investment Planning Counsel from IGM Financial last year. That move, which was finalized in November, was meant as a strong message to attract independent financial advisors.

"We see this acquisition aligning with our vision, which is to be the leading platform for independent advisors in Canada,” Macoun told Wealth Professional last year.

Read more: Advisors 'see the vision' behind Canada Life-IPC deal

"With more than 20 years of global leadership experience in the financial services industry, Fabrice is positioned to help us drive growth and unlock value for our customers and broader stakeholders," Mahon said in Canada Life’s latest statement.

"I look forward to working closely with Fabrice. His exceptional vision, strategic acumen and focus on innovation will serve us well."

Have a story idea or suggestion? Email [email protected].