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Canada  + Cross Border News  + Finance  | 
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People & Company News for January 26, 2024

  • Clinton Keay will resign as CFO of Crombie REIT on February 23 and join Empire Company Limited as its senior vice-president of corporate finance. The move is a promotion, essentially, for Keay. Empire is the REIT’s majority unitholder. Keay has been with New Glasgow, N.S.-based Crombie since May 2019. He joined the REIT after spending three decades in executive roles with the Stellarton, N.S.-based Sobeys grocery store chain. During that time, he completed a one-year stint as Empire’s interim CFO. Sobeys is a wholly owned subsidiary of Empire. Kara Cameron, currently Crombie’s VP of accounting and financial reporting, will serve as the REIT’s interim CFO while a search for a permanent CFO is conducted.
  • PwC Canada has launched a commercial property tax practice through the acquisition of Toronto-based consulting firm Equitable Value. The acquired company provides commercial real estate owners and occupiers with a full range of valuation, property tax and assessment management services. Toronto-based PwC said the acquisition will expand its specialized tax services. Until now, Equitable has specialized in consulting, tax management and valuation services for multi-residential, office, commercial and industrial properties. As part of the acquisition Jeff Grad, Equitable’s founder, has joined the PwC Canada partnership. The move is a homecoming of sorts for Grad. Earlier in his 23-year finance career, he spent three years working on business valuations for PwC (2005-2008.)
  • Downtown Vancouver’s iconic Arthur Erickson Place has earned the  Zero Carbon Building – Performance (ZCB) Standard certification from the Canada Green Building Council. The building is co-owned Vancouver-based Reliance Properties and a joint-venture involving Toronto-based Kingsett Capital and Crestpoint Real Estate Investments and Fredericton, N.B.-based Vestcor. The three-year decarbonization process began in 2022 and is expected to conclude in 2025. The building comprises 363,000 square feet and contains 26-storeys. Following the innovative retrofitting, Arthur Erickson Place will have reduced its carbon emissions by 97%, said the co-owners in a news release.
  • As Connect reported earlier this week, Nathalie Palladitcheff has decided to resign as president and CEO of Montreal-based Ivanhoé Cambridge as the company is integrated into its parent, the Caisse de dépôt et placement du Québec. Palladitcheff has served as Ivanhoé Cambridge’s top executive since 2019. She also sits on CDPQ’s executive committee, which steers the pension fund’s investments and operations. She joined Ivanhoé Cambridge as CFO in 2015 after holding executive and management positions with France-based entities. Her successor is expected to be appointed before the transition is complete in 2025. Otéra Capital is also being integrated into CDPQ. Rana Ghorayeb, Otéra’s president and CEO will continue to oversee the investment group and sit on CDPQ’s executive committee.
  • The Greenbrook TMS board has appointed Juliana Elstad as an independent director. She has also been appointed to the company’s governance and nominating committee. Toronto-based Greenbrook operates 130 medical treatment centres in the U.S. Elstad is currently the president and CEO of Newport, Calif.-based Vibrato Medical, medical device company. As a CEO, entrepreneur and advisor with more than 20 years of experience, she has delivered small startup to multi-billion-dollar environments.
  • Women in Capital Marks has appointed Tanya van Biesen as president and CEO, effective January 29. Van Biesen joins WCM from organizational consulting firm Korn Ferry, where she served as a managing partner with the global organizational consulting firm’s Canadian board and CEO succession practice. With MCM, she will lead the organization’s mission of accelerating equity in finance for women and gender-diverse individuals, the group said in a news release. She will oversee the rebranding of WCM in coming months. WCM has 3,700 professional and student members.
  • Dani Marshall has been named a partner in Vancouver law firm Clark Wilson’s commercial real estate group. Marshall specializes in municipal approvals, drafting land-related agreements and commercial property transactions. She has spent the past four years as an associate with the firm, which has a large commercial real estate practice. Prior to joining Clark Wilson, she was an associate and articling student with Kelowna, B.C.-based Doak Shirreff Lawyers.s
  • Commercial property insurance firm CNA Canada has announced two promotions. Erin Gattoni has become senior vice-president of human resources and operations. She assumes the expanded role of overseeing operations and underwriting governance in addition to her continuing human resources leadership role. Gattoni has been with Toronto-based CNA since 2019. And, Mujtaba Mirza has been named vice-president of operations and underwriting governance. He moves up after serving as the segment’s assistant VP for the past six years.

Inside The Story

Clinton KeayDani Marshall

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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