Five-second summary: Changes to the leadership team at Fiera Real Estate, departures at Comgest and PIMCO.
Fiera Real Estate
On December 14, 2022, Fiera Real Estate announced the departure of Blair McCreadie at the end of 2022. Mr. McCreadie held the role of Head of Canadian Real Estate. For the moment, his responsibilities are being transferred to different internal resources. William Secnik remains responsible for managing the Canadian real estate portfolio.
On that same date, Fiera Real Estate also announced the nomination of Wenzel Hoberg as Global Head of Fiera Real Estate, effective January 16, 2023. In this role, Mr. Hoberg will lead the growth of Fiera Real Estate's business outside of its current network while consolidating its current position. He'll also be responsible for the continued optimization of returns and efficient allocation of capital, as well as the growth of the firm's Canadian and UK platforms. With more than 25 years of experience in the real estate industry, Mr. Hoberg has led global teams in Europe and Canada.
We deem these changes to have a material impact on the DFS Fiera Canadian Direct Real Estate Fund and DFS Fiera Canadian Direct Real Estate (Pension Trusts) Fund. We'll monitor the situation closely in the short term and provide further updates as needed.
On December 9, 2022, Comgest announced the departure of Emil Wolter, co-manager of the Global Emerging Markets strategy. Mr. Wolter also led the emerging markets research efforts while being a member of the firm's executive and investment committees. Nicholas Morse, portfolio manager in Global Emerging Markets equities, will take over his responsibilities within the team.
We deem this change to have a material impact on the DFS Multi-Manager Emerging Markets Fund; one of the fund's 4 components is the Desjardins SocieTerra Emerging Markets Equity Fund for which Comgest acts as sub-manager. The Comgest mandate is being monitored and reflections are ongoing with regards to the structure of the DFS Multi-Manager Emerging Markets Fund.
On December 7, 2022, PIMCO announced the departure of Eve Tournier, to take place in February 2023. Ms. Tournier was head of European credit portfolio management as well as portfolio manager in the Diversified Income team. More specifically, she held the role of backup manager to Alfred Murata on the Desjardins Global Tactical Bond Fund. Following her departure, Sonali Pier will act as the backup manager on the mandate. PIMCO also announced that Regina Borromeo and Charles Watford were added to the Diversified Income team, joining Dan Ivascyn, Murata and Pier.
We deem these changes to have a moderate impact on the DFS Desjardins Global Tactical Bond (PIMCO) Fund. We'll monitor the situation in upcoming quarters and provide further updates as needed.