THE TEAM

Investing is a long-term, people-oriented business, and our goal at Pembroke has been to provide clients with stability and consistency that they can rely on during all market periods.

 

  • PEMBROKE
    TEAM
  • INVESTMENT
    MANAGERS
  • BOARDS, COMMITTEES,
    AUDITORS, LEGAL

Pembroke Team

A. Ian Aitken, M.S.C., CFA Managing Partner, Director, Portfolio Manager Pembroke Management Ltd. President, Chief Executive Officer Pembroke Private Wealth Management Ltd.

Joined: 1987
Location: Montreal

Member of the Pembroke Executive Committee.

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J. Matthew Beckerleg, MBA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2005
Location: Montreal

Board member of the Tyndale St. George’s Foundation.

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Josée Bilodeau Associate, Client Services Pembroke Private Wealth Management Ltd.

Joined: 2018
Location: Montreal

Anthony Calzetta, CPA, CA Vice President, Finance and Treasurer Pembroke Management Ltd.

Joined: 2013
Location: Montreal

Nicolas G. Chevalier, CFA, MBA, IAS.A. Partner, Director, Portfolio Manager Pembroke Management Ltd.

Joined: 1997
Location: Montreal

Member of the Pembroke Executive Committee.

Director of the Ste-Justine University Hospital Center and the Jeunes en Tête Foundation.

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Dominic M. Costantini, MBA Senior Vice President, Business Development Pembroke Management Ltd.

Joined: 2018
Location: Montreal

Director, Montreal General Hospital Foundation (Member of the Audit Committee and Chairman of the Investment Committee).

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Cassandra Delli Colli Associate and Branch Manager Pembroke Private Wealth Management Ltd.

Joined: 2010
Location: Montreal

Member of the Association of Quebec Women in Finance.

Sia Destounis Vice President, Head Trader Pembroke Management Ltd.

Joined: 2005
Location: Montreal

David J. Ferrante Vice President, Senior Account Manager Pembroke Private Wealth Management Ltd.

Joined: 2005
Location: Montreal

Governor, Fondation Communautaire Canadienne-Italienne du Québec.

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Andrew Garschagen, MBA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2016
Location: Montreal

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Joshua Ghoddoussi, CFA Investment Analyst Pembroke Management Ltd.

Joined: 2013
Location: Montreal

Stephen Hui, CFA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2000
Location: Vancouver

Mentor and member of the investment committee for Concordia University’s
Applied Investment Programs.

Candice Jay, CIM®, FCSI® Vice President, Account Manager Pembroke Private Wealth Management Ltd.

Joined: 2011
Location: Toronto

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Rowan Jones Associate, Operations and Dealer Services Pembroke Private Wealth Management Ltd.

Joined: 2015
Location: Toronto

Harmony Kan Office Manager and Event Planner Pembroke Private Wealth Management Ltd.

Joined: 2017
Location: Toronto

Active in the local arts community.

Jiachen Li Research Associate Pembroke Management Ltd.

Joined: 2018
Location: Montreal

Juliet Li Associate, Client Services Pembroke Private Wealth Management Ltd.

Joined: 2014
Location: Montreal

Thea Lindsay Information Technology Manager and Compliance Manager Pembroke Management Ltd.

Joined: 1996
Location: Montreal

Involved with Habitat for Humanity and a member of the Board of Trustees for
the Mount Royal Cemetery.

Michael P. McLaughlin, CPA, CA Chief Financial Officer, Chief Compliance Officer, Partner, Director Pembroke Management Ltd. Chief Financial Officer, Chief Compliance Officer, Director Pembroke Private Wealth Management Ltd.

Joined: 1988
Location: Montreal

Member of the Pembroke Executive Committee.

Darren Marsh Associate, Client Services Pembroke Private Wealth Management Ltd.

Joined: 2017
Location: Toronto

Peter S. Morton Partner, Senior Account Manager Pembroke Private Wealth Management Ltd.

Joined: 1990
Location: Montreal

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Patricia Mullan Executive Assistant Pembroke Management Ltd.

Joined: 1988
Location: Montreal

Maggie Pagonis, CPA, CGA Director of Finance Pembroke Management Ltd.

Joined: 2016
Location: Montreal

Member of The Hellenic Ladies Benevolent Society, a non-profit organization committed to helping the needy within the Hellenic community of Montreal.

Jackie Di Pasquale Office Manager and Event Planner Pembroke Management Ltd.

Joined: 2014
Location: Montreal

Doug Pospisil, CFA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2003
Location: Montreal

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Russ Quinn Vice President, Operations Pembroke Private Wealth Management Ltd.

Joined: 1992
Location: Toronto

T. John Quinn, MBA Partner, Senior Account Manager Pembroke Private Wealth Management Ltd.

Joined: 1996
Location: Toronto

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Seth Rosenberg, MBA Partner, Business Development Pembroke Management Ltd.

Joined: 2011
Location: Arizona

Actively involved with the Artists Relief Fund; and dedicated to organizations helping to protect the McDowell Sonoran Preserve in Scottsdale, AZ.

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Jay Sallafranque Systems Administrator Pembroke Management Ltd.

Joined: 2007
Location: Montreal

Fiona Tan Associate, Client Services Pembroke Private Wealth Management Ltd.

Joined: 2015
Location: Toronto

Member of Women in Capital Markets.

A. Scott Taylor, CFA Co-founder and Chairman Emeritus Pembroke Management Ltd.

Joined: 1968
Location: Montreal

Caroline Taylor Associate and Branch Manager Pembroke Private Wealth Management Ltd.

Joined: 2015
Location: Toronto

Keegan Therrien Senior Associate, Account Manager Pembroke Private Wealth Management Ltd.

Joined: 2015
Location: Toronto

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Jeffrey S.D. Tory, CFA Chairman, Partner, Director, Portfolio Manager Pembroke Management Ltd. Chairman Pembroke Private Wealth Management Ltd.

Joined: 1987
Location: Montreal

Member of the Pembroke Executive Committee.

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Martin Tzakov, CFA Investment Analyst and Assistant Trader Pembroke Management Ltd.

Joined: 2014
Location: Montreal

Mentor of the Van Berkom Small Cap Investment Management Program at Concordia University.

David Whittall Chief Risk Officer Pembroke Management Ltd.

Joined: 2016
Location: Montreal

Responsible for Risk Management of Pembroke-managed investment strategies.

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Pembroke Private Wealth Management offers a range of pooled and mutual funds providing exposure to Canadian, US, and international equities, as well as fixed-income securities. The funds are sub-advised by Pembroke Management Ltd., William Blair Investment Management, LLC and Canso Investment Counsel as detailed below.

SUB-ADVISORS

Pembroke Management

Location: Montreal, Quebec

Manager of:


Pembroke Management is an independent, Montreal-based investment firm, established in 1968, that specializes in investing in Canadian and US small and mid cap growth companies. We are research-driven, bottom-up investors and maintain high conviction, fully-invested, low turnover portfolios with high active share. Our business and investment philosophy are rooted in the concept of ownership and aligned interests. We have three generations of partners in place and are the largest non-institutional investors in our own mutual and pooled funds. Pembroke Management is the parent company of Pembroke Private Wealth Management.

Pembroke Management Ltd. – Investment Management Team

A. Ian Aitken, M.S.C., CFA Managing Partner, Director, Portfolio Manager Pembroke Management Ltd. President, Chief Executive Officer Pembroke Private Wealth Management Ltd.

Joined: 1987
Location: Montreal

Member of the Pembroke Executive Committee.

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J. Matthew Beckerleg, MBA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2005
Location: Montreal

Board member of the Tyndale St. George’s Foundation.

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Nicolas G. Chevalier, CFA, MBA, IAS.A. Partner, Director, Portfolio Manager Pembroke Management Ltd.

Joined: 1997
Location: Montreal

Member of the Pembroke Executive Committee.

Director of the Ste-Justine University Hospital Center and the Jeunes en Tête Foundation.

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Sia Destounis Vice President, Head Trader Pembroke Management Ltd.

Joined: 2005
Location: Montreal

Andrew Garschagen, MBA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2016
Location: Montreal

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Joshua Ghoddoussi, CFA Investment Analyst Pembroke Management Ltd.

Joined: 2013
Location: Montreal

Stephen Hui, CFA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2000
Location: Vancouver

Mentor and member of the investment committee for Concordia University’s
Applied Investment Programs.

Jiachen Li Research Associate Pembroke Management Ltd.

Joined: 2018
Location: Montreal

Doug Pospisil, CFA Partner, Portfolio Manager Pembroke Management Ltd.

Joined: 2003
Location: Montreal

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A. Scott Taylor, CFA Co-founder and Chairman Emeritus Pembroke Management Ltd.

Joined: 1968
Location: Montreal

Jeffrey S.D. Tory, CFA Chairman, Partner, Director, Portfolio Manager Pembroke Management Ltd. Chairman Pembroke Private Wealth Management Ltd.

Joined: 1987
Location: Montreal

Member of the Pembroke Executive Committee.

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Martin Tzakov, CFA Investment Analyst and Assistant Trader Pembroke Management Ltd.

Joined: 2014
Location: Montreal

Mentor of the Van Berkom Small Cap Investment Management Program at Concordia University.

David Whittall Chief Risk Officer Pembroke Management Ltd.

Joined: 2016
Location: Montreal

Responsible for Risk Management of Pembroke-managed investment strategies.

Learn More

Like Pembroke, our external managers are 100% employee-owned, research intensive and committed to long-term financial security for our clients. After extensive due diligence, Pembroke aligns with specialists to offer our clients exposure to asset classes that round out our investment solutions. The international equity fund and fixed income funds managed by Pembroke’s sub-advisors allow our clients to create well balanced portfolios tailored to their specific requirements.

William Blair Investment Management, LLC

Located in Chicago, Illinois, William Blair has managed the GBC International Growth Fund since 2001. William Blair is a premier global investment firm with expertise in investment banking, investment management, and private wealth management. They provide advisory services, strategies, and solutions to meet their clients’ evolving needs. As an independent and employee-owned firm, they operate in more than 20 offices worldwide. William Blair was founded in 1935 and has always been passionate about the profession of investment management.

Canso Investment Counsel Ltd.

Located in Richmond Hill, Ontario, Canso has managed the GBC Canadian Bond Fund since April 2009 and the Pembroke Corporate Bond Fund since January 2009. Recognized as bond portfolio specialists, Canso’s portfolio managers have a strong background in both public and private corporate debt markets. Their disciplined approach and proprietary research allow them to take advantage of investment opportunities and to avoid overpriced investments. They do not depend on external rating agencies and seek to avoid investment fashions or trends. Canso believes that disciplined investment management, applied consistently over long periods, delivers investment success. The company was founded in 1997.

Executive Committee of Pembroke Management and Pembroke Private Wealth Management

A. Ian Aitken, M.S.C., CFA Managing Partner, Director, Portfolio Manager Pembroke Management Ltd. President, Chief Executive Officer Pembroke Private Wealth Management Ltd.

Joined: 1987
Location: Montreal

Member of the Pembroke Executive Committee.

Learn More
Nicolas G. Chevalier, CFA, MBA, IAS.A. Partner, Director, Portfolio Manager Pembroke Management Ltd.

Joined: 1997
Location: Montreal

Member of the Pembroke Executive Committee.

Director of the Ste-Justine University Hospital Center and the Jeunes en Tête Foundation.

Learn More
Michael P. McLaughlin, CPA, CA Chief Financial Officer, Chief Compliance Officer, Partner, Director Pembroke Management Ltd. Chief Financial Officer, Chief Compliance Officer, Director Pembroke Private Wealth Management Ltd.

Joined: 1988
Location: Montreal

Member of the Pembroke Executive Committee.

Jeffrey S.D. Tory, CFA Chairman, Partner, Director, Portfolio Manager Pembroke Management Ltd. Chairman Pembroke Private Wealth Management Ltd.

Joined: 1987
Location: Montreal

Member of the Pembroke Executive Committee.

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Independent Review Committee

The Independent Review Committees (IRC) is an independent body whose role is to oversee all decisions involving an actual or perceived conflict of interest faced by Pembroke Private Wealth Management in the operation of the mutual funds that the firm offers. The three members of the IRC are:

  • Peter M. Blaikie, QC, is a Corporate Director. Mr. Blaikie was the co-founder and a partner at the law firm of Heenan Blaikie LLP from 1973 to 2014. He also served as President of Unican Security Systems between 1993 and 1998 and as a Director of The GBC American Growth Fund between 1997 and 2008.
  • Marc A. Courtois, MBA, is a Corporate Director. Mr. Courtois held various positions at RBC Capital Markets, including Managing Director between 1980 to 2001. He joined the board of The GBC American Growth Fund during 2004 and has served as Chairman since 2015.
  • Glen D. Roane, MBA, ICD.D, is a Corporate Director. Mr. Roane was Managing Director and Founding Partner of Lancaster Financial Inc. between 1986 and 1994. He joined the board of The GBC American Growth Fund during 2008.

Directors of the GBC American Growth Fund Inc.

Unlike most mutual funds that are mutual fund trusts, The GBC American Growth Fund is a mutual fund corporation. As such, the Fund has a Board of Directors. The four members of the Board of Directors are:

  • Marc A. Courtois, MBA, is a Corporate Director. Mr. Courtois held various positions at RBC Capital Markets, including Managing Director between 1980 to 2001. He joined the board of The GBC American Growth Fund during 2004 and has served as Chairman since 2015.
  • A. Ian Aitken, M.S.C., CFA is the President and Chief Executive Officer of Pembroke Private Wealth Management and Managing Partner of Pembroke Management. He joined Pembroke Management in 1987 and has served as President of The GBC American Growth Fund since 2007 and as a Director since 2009.
  • Glen D. Roane, MBA, ICD.D, is a Corporate Director. Mr. Roane was Managing Director and Founding Partner of Lancaster Financial Inc. between 1986 and 1994. He joined the board of The GBC American Growth Fund during 2008.
  • Lloyd M. Segal, MBA, is a serial entrepreneur and corporate director. Mr. Segal served as a management consultant at McKinsey & Co. between 1992 and 1996 before leading several successful companies. He joined the board of the GBC American Growth Fund during 2006.

Auditors

  • Deloitte LLP

Legal

  • Lavery, de Billy
  • Torys LLP

Custodial Services for Mutual & Pooled Funds

  • RBC Investor Services Trust

Unitholder Accounting

  • L&T Infotech Financial Services Technologies Inc.

Policy, Compliance & Registration

Policy Documents

Compliance

Pembroke Management Ltd. is an independent, Montreal-based investment firm, that specializes in US-Canadian small & medium capitalization growth companies. Pembroke treats compliance as a core value.

Pembroke Management Ltd. claims compliance with the CFA Institute Asset Manager Code, a voluntary code of conduct and commitment to commonly held ethical principles.

Pembroke Management Ltd. uses the CFA Institute’s Code of Ethics as a guide to set out specific standards of professional conduct. All employees are required to uphold the spirit of this document and confirm their understanding and acceptance of it on an annual basis.

Pembroke Management Ltd. claims compliance with the Global Investment Performance Standards (GIPS®). Prospective clients can obtain a compliant presentation and/or the firm’s list of composite descriptions by contacting Pembroke Management Ltd. through the following representatives:

Registration

Canada
Pembroke Management Ltd. is incorporated under the Federal laws of Canada.
Registered in Quebec, Ontario, Alberta, British Columbia and Manitoba as a Portfolio Manager.
United States
Pembroke Management Ltd. is registered as an Investment Advisor with the Securities and Exchange Commission (SEC), CRD Number 155405.
Click here to view Pembroke’s ADV Part 2A brochure filed with the SEC.
Denmark
Pembroke Management Ltd. is registered as an Investment Advisor with the Danish Financial Supervisory Authority.