Global President and
Chief Executive
Officer Letter

Jean-Philippe Lemay

Reflecting on 2021, I look ahead with confidence; confident in our plan for Fiera Capital’s growth, and humbled by the confidence the Board has placed in me to lead and execute that plan. Our successes in 2021 have given us clarity on the road ahead, and as we chart a new course, I don’t see this as a moment to reassess, but rather to reaffirm. The ambition with which we take these new steps is as strong as the ambition Mr. Desjardins himself had when he started in the industry.

This year, we reaffirm our commitment to fostering sustainable prosperity, to serving our clients with sophistication and care, to being solution-oriented, and to championing our industry as efficient allocators of capital who embrace the latest in the investment science.

The only way to have such confidence in the organization we will continue to build together, is to recognize the strength of the foundation upon which we build. I would like to recognize Jean-Guy for his distinguished leadership, guidance and mentorship. Through his strategic foresight and reverence for the evolving body of the investment science, Fiera Capital is today well positioned for our next phase of growth. As we continue to strengthen our flagship public market offerings, we are investing heavily in private market capabilities that will enable Fiera Capital to become an even better partner for our clients.

Efficiently allocating capital through innovative and purposeful investment strategies enables us to construct optimized client portfolios that deliver on client outcomes. By evolving Fiera Capital into a diversified global asset management firm, we unlock new avenues to do just that – to create more tailored solutions and services that will help us outperform and outcompete in the Canadian market and beyond.

The successes of 2021, especially in the face of so much market, social and political uncertainty, have validated our investment theses, and confirmed client interest in our strategies. Our near-term priority will be organic growth. To achieve it, we will maximize the commercial potential of our Public Markets platform, accelerate growth through our Private Markets platform with a focus on real assets and private credit, increase our deployment of capital, and further develop our custom client solutions.

Bringing Fiera Capital to the World

With ambition for further global expansion, we have and will continue to strengthen our international deployment capabilities, by leveraging our strategies globally – primarily building on our fast growing, existing footprint in larger markets where we are already well-positioned – and establishing a truly global operating model for Fiera Capital. This will enable us to expand our offering of highly differentiated solutions, including private market multi-strategies and diversified credit strategies while providing new opportunities for institutional and high-net-worth investors in Canada.

Strengthening Our Public Market Offering

In 2021, we have reinforced our strength in the global equity market, notably with the successful acquisition of the Fiera Atlas Global Companies team in March. In less than 10 months since joining the firm, the strategy has gained significant momentum and its assets under management have more than doubled.

Following a thorough strategic planning process, we also established a sub-advisory partnership with StonePine Asset Management for three of Fiera Capital’s equity strategies. With strong support from our clients, this mutually beneficial structure provides for the continuation of a relationship that has created significant value for both our clients and shareholders over the last 12 years.

Elevating Our Private Market Offering

We see private market opportunities as our strongest avenue for growth and as such, are considerably investing in our capabilities to provide those alpha opportunities to our clients. In the last year alone, our private market assets have grown by 18.7%, with CA$2.4 billion in new mandates and deployed capital of CA$2.9 billion. In the years to come, we will continue to fuel this momentum by further deploying capital and expanding globally, while delivering sustainable value with private markets as a crucial component of the diversification we offer clients.

Innovating Tailored Client Solutions

In our commitment to better serve clients, we have continued to deliver investment excellence across our range of public and private market strategies, which are underpinned by independence of perspective, disciplined processes and long-term orientations for alpha generation. This, along with our determination to thrive as efficient allocators of capital across all dimensions with ESG and DE&I at our core, will allow us to better serve our clients for years to come.

A Culture Rising to the Occasion

Above all else, our most crucial assets are our people and culture. Ours is a culture truly powered by human intellect and the pursuit of excellence. In the last year, our colleagues have exemplified determination, generating extraordinary results in trying circumstances. We strive to foster an inclusive, collaborative, and entrepreneurial environment that attracts and retains diverse, ambitious, creative professionals. We are a team of trusted, impact-oriented asset allocators, working with integrity to serve our clients’ best interests while creating sustainable prosperity and driving positive and meaningful change within the communities we serve and support around the globe.

We value the intellectual capital demonstrated by our team, which is increasingly devoted to developing solutions that meet the growing ESG requirements of our clients. This will continue to be an area of focus for the firm; we forge ahead with responsibility and sustainability at the fore.

Confidence to Drive Ahead

Fiera Capital is strong, and our future, bright. It is our responsibility, and it is now my responsibility, to execute our plan and help build on the successes of the past. We are motivated, and we are excited – because with clarity comes conviction.

Over the coming years, we will put the full strength of the organization towards organic growth and owning our place as a truly global asset management firm.

To my colleagues around the world, I offer my gratitude. Your tremendous efforts in highly challenging times have given us the ballast needed to sail through uncertainty and to realize strong performance. I would also like to thank the Global Management Committee for their commitment, our clients for their trust, our Board for their guidance, and our shareholders for their unwavering confidence.

Finally, I would like to applaud Jean-Guy for the firm he has built and thank him personally for his support, guidance and friendship, which give me the strength to build on his achievements and realize the next phase of Fiera Capital’s growth.

Together, with confidence.

Jean-Philippe Lemay Global President and Chief Executive Officer1

1. Jean-Philippe Lemay was named Global President and Chief Executive Officer on January 1, 2022.