Pat Chiefalo at BlackRock's Toronto offices 2016.Chris Young/CP
Former Blackrock executive Pat Chiefalo has joined global asset manager Invesco Ltd. as head of Canadian operations for its exchange traded funds business.
Mr. Chiefalo, who left his position as head of iShares Canada with Blackrock Inc. last month, has resurfaced in the investment funds industry at Invesco Ltd. as head of ETFs and indexed strategies, Canada.
Invesco Canada is known on the Street for both its mutual fund and ETF lineups, with assets under management of more than $40-billion. The company was one of the first mutual-fund companies to enter the ETF industry in 2009 and now has $3.8-billion invested in its ETF products in Canada.
The appointment comes almost two years after Invesco saw the departure of Peter Intraligi, a 20-year veteran of the firm, who spent almost 12 years as president and chief operating officer for the company’s Canadian operations. At the same time, Invesco Americas chief operating officer John Zerr was appointed responsibilities overseeing Invesco’s Canadian business.
“I’m incredibly excited to be joining Invesco as we renew our commitment to the Canadian ETF market,” Mr. Chiefalo said in a statement.
Over the span of his career, Mr. Chiefalo has played an integral role in the growth of ETFs in Canada. Mr. Chiefalo joined BlackRock Canada in 2014, when ETFs were still in their infancy and not widely known among retail investors. He later took over as the sole head of iShares Canada in 2017.
Prior to Blackrock, he spent five years leading the ETF research team at National Bank Financial and became known as one of the top ETF specialists in the country.
Mr. Chiefalo will be based in the Invesco office in Toronto and report to Anna Paglia, global head of ETFs and indexed strategies.
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