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  5. FSZ: I read recently that there has been a change in senior management at Fiera, with Mr Desjardins the former CEO moving to Executive Chairman. [Fiera Capital Corporation Class A Subordinate Voting Shares]
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Q: I read recently that there has been a change in senior management at Fiera, with Mr Desjardins the former CEO moving to Executive Chairman. I believe that he is 77 years old, the controlling shareholder and founder of the company. I had thought that he would be selling the company due to his age. but now I am wondering whether it has become a value trap. What do you think?

Asked by Barry on January 13, 2022
5i Research Answer:

We have some comments posted today. Natixis is now selling all their shares, in addition to the news noted in the question. The management news is not overly relevant, however, as it was essentially set up three years ago with the Board indicating Lemay would be the successor in due course. But the share news is going to cap the stock price for a period of time. We like the 8% yield, but would not expect much growth.