Toronto, December 3, 2020 – RF Capital Group Inc. (“RF Capital” or the “Company”) (TSX: RCG) today announced that David Leith has been appointed as an independent member to the Company’s board of directors (the “Board”), effective immediately. Following his appointment, the Board will comprise seven directors, five of whom are independent.
Mr. Leith joins RF Capital’s Board following a distinguished career as an investment banker and corporate director, serving on numerous public and private boards. Most recently, he served as Lead Director of Hudson’s Bay Company until March 2020. From 2009 until 2017 he was the Chair of the Board of Manitoba Telcom Services Inc. until the company’s acquisition by Bell Canada. Mr. Leith was also the inaugural Chair of the Board of the Investment Management Corporation of Ontario (IMCO), which provides fund management services to clients in the broader public sector in Ontario, from 2016 to 2019. Mr. Leith is also the Chair of the Treasury Risk Oversight Committee of the Province of Manitoba.
Don Wright, the Company’s Chairperson, said: “We are pleased that David chose to join our Board at such an exciting time in our evolution given the significant value creation opportunities we believe are in front of the Company. David is an accomplished executive and a highly respected and experienced corporate director. We are looking forward to the perspectives, judgement and broad-based business expertise he will bring to our Board.”
Mr. Leith spent over 25 years with CIBC World Markets, based in Toronto and London, England, and has extensive experience in debt and equity markets, government finance, and mergers and acquisitions. Until 2009, he was Deputy Chairman and Managing Director and Head of CIBC World Markets’ Investment, Corporate and Merchant Banking activities. From 2009 until 2011 he served as Special Advisor to the federal Minister of Natural Resources on the restructuring of Atomic Energy of Canada Limited (AECL).
Mr. Leith holds a B.A. from the University of Toronto and an M.A. from Trinity College, Cambridge University.
Commenting further, Mr. Wright said: “David’s appointment also allows us to deliver on our commitment to ensure the majority of our Board remains independent of both the Company and Richardson Financial Group Limited.”
Prior to the Company’s next annual meeting, the Board intends to identify additional director candidates, including those that will meet our diversity objectives. Diversity brings new perspectives to the boardroom and is essential to our mission to be the destination of choice for Canada’s top advisors and like-minded wealth management firms.
ABOUT RF CAPITAL GROUP INC.
RF Capital Group Inc. (RF Capital) currently operates through two business segments: Wealth Management and Operations Clearing; and a Corporate segment. Wealth Management consists of RF Capital’s wholly owned subsidiary Richardson Wealth. Richardson Wealth is one of the largest independent wealth management firms in Canada with $29.6 billion in assets under administration (as at November 30, 2020) and 19 offices across the country. The firm’s growing roster of Advisor teams (162 as at November 30, 2020) focus exclusively on providing strategic wealth advice and innovative investment solutions customized for each high net worth or ultra-high net worth client family, entrepreneur or business owner. Operations Clearing, through RF Securities Clearing LP (formerly GMP Securities L.P.), provides carrying broker services to Richardson Wealth and other third parties, including trade execution, clearing, settlement, custody, and certain other middle- and back-office services, and other expenses associated with providing such services. RF Capital is listed on the Toronto Stock Exchange under the symbol “RCG”. For further information, please visit our corporate website at www.rfcapgroup.com.
For Further Information Please Contact:
RF Capital Group Inc.
Rocco Colella, Managing Director, Investor Relations
Tel: (416) 941-0894;