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CI Financial Corp. (T:CIX)

Business Focus: Investment Management & Fund Operators

Sector:  Financials Industry:  Investment Management & Fund Operators
See Regulatory Filings on SEDAR
Company Contact
Address: Twentieth, 2 Queen St E Floor
Tel: 1-416-6816508
IR: See website
Key People
William Thomas Holland
Chairman of the Board
Darie P. Urbanky
President, Chief Operating Officer
Kurt MacAlpine
Chief Executive Officer, Director
Douglas J. Jamieson
Chief Financial Officer, Executive Vice President
Roy Ratnavel
Executive Vice President, Head of Sales
Lorraine P. Blair
Executive Vice President, Chief Talent Officer
Rohit Dev Mehta
Executive Vice President
Edward D. Kelterborn
Chief Legal Officer
Business Overview
CI Financial Corp (CI) is a Canada-based asset and wealth management company. The Company operates through two business segments: Asset Management and Wealth Management. The Company primarily operates its Asset Management businesses through CI Investments Inc and GSFM Pty Ltd. The Company operates its Wealth Management Segment through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, CI Direct Investing (WealthBar Financial Services Inc.), BBS Securities Inc., The Cabana Group, LLC, Congress Wealth Management, One Capital Management, LLC and Surevest LLC. The Asset Management segment derives its revenue principally from the fees earned on the management of investment funds and other fee-earning investment products. The Wealth Management segment derives its revenue principally from fees and commissions from ongoing service, financial planning and advice (which may include investment management services), and on the sale of investment funds and other financial products.
Financial Overview
For the fiscal year ended 31 December 2020, CIFinancial Corp revenues decreased 3% to C$2.05B. Net incomedecreased 12% to C$476M. Revenues reflect Asset Managementsegment decrease of 9% to C$1.65B. Net income also reflectsAmortization of Intangibles increase of 71% to C$19.3M(expense), Depreciation of rights of use assets increase of12% to C$9.8M (expense). Dividend per share remained flatat C$0.72.
Employees: 1,793 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: $5,962M as of Dec 31, 2020
Annual revenue (TTM): $2,049M as of Dec 31, 2020
EBITDA (TTM): $812.20M as of Dec 31, 2020
Net annual income (TTM): $475.98M as of Dec 31, 2020
Free cash flow (TTM): $357.53M as of Dec 31, 2020
Net Debt Last Fiscal Year: $1,915M as of Dec 31, 2020
Shares outstanding: 208,999,546 as of Mar 10, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization