Connor, Clark & Lunn
{{Short description|Canada asset management firm}}
{{Use dmy dates|date=November 2024}}
{{Infobox company
| name = Connor, Clark & Lunn Financial Group Ltd.
| logo = Connor, Clark & Lunn.svg
| image =
| image_caption =
| former_name =
| type = Private
| traded_as =
| industry = Investment Management
| predecessor =
| founded = {{Start date and age|1982}}
| founders = {{ubl
| Larry Lunn
| John Clark
| Gerry Connor
}}
| hq_location_city = Exchange Tower, Toronto, Ontario
| hq_location_country = Canada
| key_people = {{ubl
| Michael Freund (Chairman)
| Warren Stoddart (President and CEO)
}}
| products =
| services =
| revenue =
| operating_income =
| net_income =
| aum = CA$132 billion (2024)
| assets =
| equity =
| num_employees =
| website = {{URL|cclfg.cclgroup.com}}
| footnotes =
}}
Connor, Clark & Lunn Financial Group (CC&L) is a Canadian multi asset investment management firm headquartered in Toronto, Ontario. It is one of Canada's largest privately owned investment management firms. Outside Canada, it has offices in the United States, the United Kingdom and India.
History
In 1982, Larry Lunn, John Clark and Gerry Connor founded Connor, Clark & Lunn in Vancouver. At the time there was a perception that most money management wisdom was based in Toronto so Connor, Clark & Lunn made a pitch to pension funds that it would be an alternative choice from the Toronto groupthink. The approach paid off and CC&L won business due to its being perceived as different.{{Cite web |last=Rockel |first=Nick |date=4 February 2013 |title=Vancouver's Biggest Money Managers |url=https://www.bcbusiness.ca/industries/general/vancouver-biggest-fund-managers/ |access-date=9 November 2024 |website=BC Business |language=en-US |archive-date=9 November 2024 |archive-url=https://web.archive.org/web/20241109065759/https://www.bcbusiness.ca/industries/general/vancouver-biggest-fund-managers/ |url-status=live }}
In 1987, Connor, Clark & Lunn made its name by anticipating Black Monday in advance. Over the next five years, its assets climbed from CA$700 million to CA$5 billion.
In October 2001, Connor, Clark & Lunn and Arrowstreet Capital created a joint venture named Connor, Clark & Lunn Arrowstreet Capital. It would invest in global equities for institutional investors.{{Cite web |date=10 October 2001 |title=CC&L teams up with Arrowstreet Capital |url=https://www.investmentexecutive.com/news/products/ccl-teams-up-with-arrowstreet-capital/ |access-date=9 November 2024 |website=Investment Executive |language=en |archive-date=9 November 2024 |archive-url=https://web.archive.org/web/20241109065819/https://www.investmentexecutive.com/news/products/ccl-teams-up-with-arrowstreet-capital/ |url-status=live }}
Towards the end of 2002, Connor, Clark & Lunn was restructured to become Connor, Clark & Lunn Financial Group. It became an umbrella that contained eight investment management affiliates and three distribution businesses.{{Cite web |last= |date=1 October 2009 |title=Multi-boutique firms encourage shared ownership |url=https://www.advisor.ca/practice/planning-and-advice/multi-boutique-firms-encourage-shared-ownership/ |access-date=9 November 2024 |website=Advisor.ca |language=en |archive-date=9 November 2024 |archive-url=https://web.archive.org/web/20241109065801/https://www.advisor.ca/practice/planning-and-advice/multi-boutique-firms-encourage-shared-ownership/ |url-status=live }}{{Cite web |last=O’Hara |first=Clare |date=28 July 2008 |title=CC&L Financial Group breaks its own trail |url=https://www.investmentexecutive.com/newspaper_/news-newspaper/news-45492/ |access-date=9 November 2024 |website=Investment Executive |language=en}}
In 2013, CC&L sold its structured products unit to Aston Hill for CA$20.5 million.{{Cite web |last=Critchley |first=Barry |date=15 July 2013 |title=Aston Hill Financial to buy a unit of CC&L for $20.5-million |url=https://financialpost.com/news/fp-street/aston-hill-financial-to-buy-connor-clark-lunn-for-20-5-million |website=Financial Post}}
References
{{reflist}}
External links
- {{Official website|https://cclfg.cclgroup.com}}
{{authority control}}
{{Major asset management companies}}
Category:Canadian companies established in 1982
Category:Companies based in Toronto
Category:Financial services companies established in 1982