TDAM reshuffling leadership as CIO Vanderhooft steps down

Following last week’s reorganization at BMO, TD Asset Management (TDAM) is shaking up its leadership as the firm’s chief investment officer decides to resign from his role.

In an emailed statement, TDAM CEO Bruce Cooper announced that Rob Vanderhooft, who joined the firm in 2018 following the acquisition of Greystone Asset Management, has made the personal decision to give up his position.

“In 2018 when we brought Greystone into the TDAM business, I was excited to have Rob's deep expertise join the firm,” Cooper said. “Over nearly 35 years at Greystone, Rob helped build a leading institutional asset management firm with a unique and in-demand skill set, a strong culture and a client-focus that well complemented our own.”

Cooper praised the departing CIO’s investment insight, leadership, and poise under pressure, which he said were crucial in advancing TDAM’s business and navigating through the volatility seen during the onset of the COVID-19 pandemic. Under Vanderhooft’s leadership, he said TDAM has become Canada’s largest money manager, and its product offering has expanded to include new solutions and expertise in alternatives, ESG, ETFs, and healthcare, to name some.

To enable a smooth transition, Vanderhooft will serve as a special advisor at TDAM through the end of October 2022. He will also head up the Wealth Asset Allocation Committee (WAAC), take a leadership role in the firm’s ESG engagement strategy, represent TDAM with key clients, and act as a strategic partner to Cooper.

Cooper also announced that Managing Director and Head of Public Equities David Sykes will be picking up the mantle as the firm’s next CIO effective April 1, 2022. After joining TDAM in 1999, Sykes has contributed to multiple areas of TDAM’s asset management business, notably serving as lead portfolio manager for several income and dividend funds, as well as co-manager of the TD Global Tactical Monthly Income Fund. He is also a member of the WAAC, and since 2014 has successfully overseen TDAM’s 60-person team in its Public Equities business, which represents more than $182 billion in assets.

As Sykes steps into his new role, Justin Flowerday, managing director and head of Research at TDAM’s Fundamental Equities unit, will take over the position of head of Public Equities on April 1. Meanwhile, vice presidents Monica Yeung and Vitali Mossounov have expanded their current mandates as co-Heads of Research for the Fundamental Equities team.

“Direct reports and related teams that will be supported by David, Justin, Monica and Vitali will be announced in the coming months,” Cooper said.