Tim Griffin, the former president of RT Capital Management, has returned to investment management with Canadian money manager Connor Clark & Lunn. The move comes less than a year after resigning from RT Capital over a stock manipulation scandal.
Griffin, who has joined Connor Clark as a partner, will work in the private client group of the Vancouver based fund manager. Speaking about his arrival at Connor Clark, Griffin said he was: very pleased and excited to join the CC & L Group and such a first-class group of investment management professionals.
During Griffin's tenure as president and ceo at RT Capital, assets under management grew from C$8bn (£3.5bn) to C$38bn (£17bn). He resigned in July last year after an investigation by Canadian authorities over stock manipulation.
In all, nine of RT Capital's portfolio managers and equity traders were implicated, including Griffin as president , and Michael Edwards as chairman. The scheme artificially boosted stock prices of 26 companies during eight days between October 31 1998 and March 1999, in a practice known as high closing.
In July last year, RT Capital reached a settlement with the Ontario Securities Commission for the role its senior staff played in the stock manipulation scandal. The company was fined C$3m (£1.3m) and nine RT Capital employees received trading suspensions. Peter Larkin, RT Capital's then chief strategist and fund manager, received a lifetime trading ban.
Connor Clark & Lunn currently has C$20bn (£9bn) assets under management. CC & L Group companies include Connor Clark & Lunn Investment Management; CC & L Private Capital Management; Baker Gilmore & Associates; PCJ Investment Counsel; Scheer, Rowlett & Associates Investment Management; WorldInvest International; Banyan Capital Partners and Tera Inc.
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