DECEMBER2013NEWSLETTER

TABLE OF CONTENTS

PRESIDENT’S MESSAGE .................................................................................................... 2

CHARTERHOLDER PROFILE ...............................................................................................3

NEW CHARTERHOLDER DINNER ......................................................................................5

CFA SOCIETY OTTAWA MISSION STATEMENT ...............................................................5

CFA STUDENT OUTREACH .................................................................................................5

LUNCHEON AND EVENT RECAP ........................................................................................6

EMPLOYER ENGAGEMENT ..................................................................................................6

TREASURER’S LETTER ........................................................................................................6

2014 FORECAST DINNER ................................................................................................... 7

CFA SOCIETY OTTAWA LEADERSHIP AND VOLUNTEERS ............................................8

Dear CFA Society Ottawa members, affiliates, colleagues and friends:

2013-14 is proving to be an amazing year for the CFA Society Ottawa! I want to take this opportunity to THANK all those that were volunteers and Board members last year and to welcome aboard all of our new Board members and volunteers. We have in place an amazing team this year and we have been working hard to make the CFA Society Ottawa a world-class society! For the second year in a row, I am proud to say that we have won yet another award from the CFA Institute, which I proudly accepted on our society’s behalf at the CFA Society Leadership Conference in Washington, D.C. this fall. The Canadian societies are well-known for being the best in class around the globe and we are recognized amongst our international peers for “Collaboration” with our fellow

Canadian Societies. As a member of the CFA Society Ottawa, you may be eligible for member rates for events hosted by other CFA societies across Canada. Being in Ottawa, we are fortunate to have two large CFA societies as neighbours that offer us member rates for their events that have the “Passport Program” logo. Please check their websites for upcoming events at: www.torontocfa.ca and www.cfamontreal.org. As for what is happening in Ottawa, we continue to offer interesting lunch presentations, as well as networking and social evenings for members and candidates. We hosted a formal dinner to welcome new charterholders and candidates that passed their CFA level III exam. We have also worked on special offers for CFA Society Ottawa members. Please visit our website to find out more details at www.cfaottawa.ca or contact admin@cfaottawa.ca.

We welcome any feedback or if you have a great idea on presentation topics or things that you would like to see, feel free to talk to any of the volunteers. I am looking forward to seeing you out at the next CFA Society Ottawa event! Rebecca Tam, CFA President, CFA Society Ottawa

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PRESIDENT’S MESSAGE

REBECCA TAM, CFA

PRESIDENT, CFA SOCIETY OTTAWA

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CHARTERHOLDER PROFILE

Michael Waters is the Chief Executive Officer and a member of the board of directors of the Minto Group, a privately held real estate development and investment firm based in Ottawa, with operations in Ontario, Alberta and Florida.

Michael has over 20 years experience in real estate finance, investment and develop-ment and financial advisory services. Prior to joining Minto, he served in a variety of roles at Intrawest Corporation, a large resort developer and operator with a presence across North America. Earlier in his career, Michael worked at PricewaterhouseCoopers LLP and KPMG LLP.

He completed an undergraduate degree in finance at the University of British Columbia and holds an MBA from the Wharton School of the University of Pennsylvania. In addition, Michael is a Chartered Accountant and holds the Chartered Financial Analyst designation.

Michael was appointed to the Board of Governors for Algonquin College in 2013 and serves on the College’s Audit and Risk Management Committee. He is also a member of the Sprott School of Business Advisory Board.

MICHAEL WATERS, CFA

CHIEF EXECUTIVE OFFICER AND MEMBER OF THE BOARD OF DIRECTORS

MINTO GROUP

What prompted you to become a CFA Charterholder?

I had recently completed my exams to become a chartered accountant, which provided a very solid grounding in financial reporting, taxation and other disciplines but I was looking to add to my knowledge of finance. While much of the CFA curriculum was very esoteric—much of the advanced bond math, for example—but I found it very stimulating from an intellectual perspective.I have since found the knowledge I gained

through the CFA program to be incred-ibly helpful as I completed a graduate degree in strategic management and in my career.

What gives you the most satisfaction in your new role as CEO of the Minto Group?

I really enjoy the strategic planning work – charting the course for a large enterprise engaged in multiple lines of business in different jurisdictions is incredibly challenging. What surprised

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me in both this role and earlier corporate roles at Minto was how much I enjoy building the infrastructure such as information technology, talent manage-ment and other systems that ties this organization together and makes the entire enterprise more competitive.

I am also very fortunate to be surrounded by some incredibly experienced and knowledgeable colleagues who are tops in their fields. I learn a lot from them about their businesses and what they do.

What is the most important leadership lesson you have learned in your career?

Time spent on developing the talent on your team is never wasted. A great strat-egy is really not worth much without the right team to execute. Many people excel as individual contributors, but fail when asked to lead because they continue to emphasize the skills that made them great contributors but neglect the development and growth of their team. Worse, a dysfunctional team whose problems are not addressed can be counterproductive. Leaders who do not throw themselves into the develop-ment of their team are likely going to see limits to what they can achieve.

How has the CFA Charter Helped you in your career?

The CFA rounded out my business education in many key areas – valuation, dividend policy, capital structure and corporate finance are just a few of the areas where I have since found myself drawing on my CFA education to apply to real world challenges in my career.While the CFA was not a silver bullet in solving these challenges, it did provide a base of knowledge from which I could develop a solution.

What aspects of the charter do you value the most?

As a student, I found the program incredibly rigorous – while I had an undergraduate degree in finance, I found that the CFA program provided further depth and breadth at a level that challenged me and as a result I learned a lot.

As a charterholder, I find the continuing education opportunities to be very important and I take advantage of these where possible.

As an employer, when I am looking to hire or promote staff, I see the CFA charter as an indication of an individ-ual’s intellectual capacity, analytical skills and internal motivation. These attributes are at the core of what I look for in building/adding talent. Industry specific knowledge can be taught, character and brains cannot.

What career advice would you offer to a new CFA Charterholder in the current environment?

Never stop taking opportunities to broaden your education – not just formal but the experience-driven education that your career provides. With the CFA studies behind you, do not rest but continue to use your initiative to take on new

opportunities be they special projects or initiatives or new roles. This experience will be critical to broadening your skills.

Any message you would like to give the CFA Society Ottawa?

The work you do as a society is fundamental to attracting newcomers into the profession and broadening the knowledge of local members. Keep it up!

CHARTERHOLDER PROFILE CONTINUED

I have since found the knowledge I gained through the CFA

program to be incredibly helpful as I completed a graduate degree

in strategic management and in my career.

THE CFA SOCIETY OTTAWA MISSION STATEMENT: FOCUSING ON MEMBERS

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The CFA Society Ottawa held its fifth annual new charterholder dinner on October 29, 2013. The event recognized the achievement of all new charterholders as well as candidates from the Ottawa region who passed level III of the CFA exam in June 2013. The event provided

a great opportunity for new charterholders and candidates to meet other finance professionals as well as Board members of the Society The event was a big success with a total of 23 people attending.

This included 7 new charterholders, 9 candidates, guests, several of the Society’s Board members, and our guest speaker. Michael Waters, CFA (see this issue’s Charterholder Profile) was the

guest speaker for the event and gave a memorable speech providing powerful career advice while relating to how the CFA designation influenced his career. The CFA Society Ottawa thanks Mr. Waters for his inspiring speech.

Aaron Porter, CFAMembership Committee Chair

NEW CHARTERHOLDER DINNER

On September 15th, the CFA Society Ottawa Board, executives and volunteers met to discuss this year’s strategic plan. On the agenda was our mission statement. What we realized was that only a few of us actually knew what the mission statement said. Because a mission statement is a statement of purpose, or reason for existing, we agreed it was important and that it needs to be properly communicated to become truly meaningful.

Why does our Society exist? At the strat-egy session we unanimously agreed the Society exists for its members and spent some time revising the existing mission

statement to make it more member focused. After some discussion, we agreed on the following:

The mission of the CFA Society Ottawa is to support the business and professional growth of its members by:

• Promoting awareness of the CFA charter amongst the local community, key em- ployers and the investing public; and

• Providing opportunities for the local financialcommunitytogatherina collegial atmosphere of knowledge sharing & networking.

We hope the revised mission statement resonates with all of you. We will be communicating the mission statement often so that it becomes part of the Society’s brand. This includes posting the mission statement on the Society’s web site, in this newsletter, as well as at Society events.

Bernhard Eichenlaub, CFA Secretary

The student outreach endeavours for this year are being spearheaded by the Society’s Education Chair, Yuriy Zabolotnyuk, CFA, who as a Professor consistently promotes the CFA designation. The CFA Society Ottawa continues to support local area universities in a variety of ways:

Schweser Note packages are being awarded to deserving students at all three local universities. This was supported through the strong relationship we have with the exam preparation provider.

Discounts are being provided to candidates on exam preparatory materials. Details are available on our website under the section on “member offers”.

The Ottawa Finance Society was given $1,000 which will be utilized for networking events in the new year.

The Sprott Finance Student Society was given $500 to sponsor their annual wine and cheese event.

The Fund@Sprott was given $500 to support their annual networking event.

Presentations continue at all three universities to promote the CFA Charter.

Paul Baron, CFAVice-President

CFA STUDENT OUTREACH

CFA Society Ottawa current fiscal year (July 1st 2013 to June 30th 2014) announces to be an exciting one. As of October 2013, our cash and equivalents balance stood at over $168,000.

Having a strong surplus at this time is important given the cash outlays associated with hosting the luncheon series, networking events, mem-ber socials, in addition to the annual forecast dinner in 2014. The society’s revenues remain a function of regular CFA Institute funding, membership dues, employment postings, and cost-neutral programming. CFA Institute funding was down slightly year over year due to a one time brand funding stipend provided in 2012-13 and not renewed in 2013-14; this has had no material impact on our financial position.

Our currently approved annual expenditures for this fiscal year are $105,000. These expenses will fund a broad range of programming and events offered to you, our members, through the end of June 2014.

Our goal is to continue to find ways to effectively deploy our capital and bring value added events and programming to all of our members, all the while promoting the designation in the local marketplace. All expenditures are undertaken with our mission statement in mind.

Lastly, I would like to thank Robert Pelletier for the 5 years of service he generously contributed to CFA Society Ottawa as Treasurer. We will strive to maintain the high fiduciary standards that Robert implemented during his tenure.

We welcome any questions or feedback on the current fiscal position.

Stevan Dostanic, CFATreasurer

TREASURER’S LETTERLUNCHEON AND EVENT RECAP

EDC – NOVEMBER 28, 2013Stuart Bergman, Assistant Chief Economist and Director, Economic and Political Intelligence Centre at Export Development Canada provided our members with his outlook for Canadian exporters to benefit from expanding relationships outside the U.S. and gaining exposure into areas of the world that are growing more rapidly.

GOLDMAN SACHS – NOVEMBER 5, 2013Against a backdrop of low interest rates and bond yields in the developed world being at, or very near all time lows, Ronald Arons, Managing Director, Fixed Income Portfolio Management at Goldman Sachs Asset Management, entertained attendees with his team’s perspective on how an unconstrained, global approach to investing in fixed income could add value in the current environment. The event took place at the Rideau Club.

IPD – OCTOBER 28, 201346 members attended Simon Fairchild’s presentation at the Rideau Club. As Executive Director, Head of IPD North America led an informative discussion on global real estate as an investable asset class by describing its risk/return profile and increased use among market participants.

BANK OF CANADA – SEPTEMBER 24, 2013Mr. Lawrence Schembri, Deputy Governor of the Bank of Canada provided attendees with his unique insight to why Canada and the world needs the Financial Stability Board. The luncheon took place at the historic Rideau Club.

Wesley Blight, CFAProgram Chair

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We will continue to promote the CFA brand with hiring managers, in both the Private and the Public sector, to ensure they know the value CFA Charterholders bring to their organizations. Our goal this year (2013-14) will be twofold:

• To increase the number of job postings on the CFA Society Ottawa job board.

• To create opportunities and open doors for members by holding a networking event with hiring managers.

Sylvain Sénéchal, CFAEmployer Outreach Chair

EMPLOYER ENGAGEMENT: FACILITATING NETWORKING WITH LOCAL HIRING MANAGERS

CFA Society Ottawa2014 Forecast Dinner

RECEPTION AT 5:00PM; DINNER AT 6:30PM

OTTAWA CONVENCTION CENTRE

THURSDAY, APRIL 24, 2014

The premier financial industry networking event of the year, bringing together over 400 of Ottawa’s leading investment professionals and key decision-makers.

Sponsorship opportunities available.Contact Paul Baron pbaron@minto.comfor more details

CFA SOCIETY OTTAWA LEADERSHIP & VOLUNTEERS

Rebecca Tam, CFA .......................................................................................... PresidentPaul Baron, CFA ..................................................................................... Vice-PresidentBernhard Eichenlaub, CFA ............................................................................. SecretaryStevan Dostanic, CFA .................................................................................... TreasurerTrevor Carson, CFA ................................................................................ Past PresidentSacha Imbert, CFA ................................................................... Board Member At Large

Yuriy Zabolotnyuk, CFA ....................................................................... Education Chair Aaron Porter, CFA .......................................................... Membership Committee ChairWesley Blight, CFA ................................................................................ Program ChairSylvain Sénéchal, CFA .......................................................... Employer Outreach ChairAdwaite Tiwary, CFA ......................................................................... Newsletter EditorMartin Lalonde, CFA, MBA .............................................. French Language AmbassadorErik Brien-Wright ................................................................................Technology ChairSean Robertson ......................................................................................Advocacy ChairTrevor J. Mulligan .................................................................... Administrative Support

CFA Society Ottawac/o Trevor Mulligan174 Bank Street • P.O. Box 71047Ottawa, Ontario K2P 1W0Email: admin@cfaottawa.ca

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