Earl Bederman, President

When Earl is not busy memorizing baseball stats and envisioning the third World Series title for the Toronto Blue Jays, he busies himself with visions of the future of the Canadian financial services industry. It was Earl's belief that Canada's financial services industry needed an organization to conduct fact-based measurement, competitive intelligence, and analysis of markets and trends that led to the formation of Investor Economics. It was that idea, along with the input of the outstanding professional staff described below, that made it happen. Earl is the person to speak to if you need to know what's going on in the firm. His chief duties include establishing the strategic vision for Investor Economics and helping to set research and product priorities, along with client liaison and business development. Earl's career background in the financial services industry spans more than 30 years. He has held a variety of senior executive positions ranging from economist to money manager to strategic planner and university lecturer. Earl holds an MBA from York University and an undergraduate degree from the University of Toronto. Hugely in demand as an industry commentator, educator and speaker at conferences, Earl tries out new ideas for his speeches on his favorite walking partner: Abbey (an Irish water spaniel).

Goshka Folda, Senior Managing Director

Goshka is Investor Economics' resident diva and one of the founders of the firm. She is multi-talented and multilingual. On the business front, Goshka is the driving force behind our investment funds research. She is also deeply involved in the wide range of our research, databases and information gathering–not to mention client services. No report can leave our premises without passing the Goshka test. The distinctive visual appeal of our graphs and tables is a further reflection of her stylistic contribution. Goshka is frequently quoted in the media and is very much in demand at industry seminars and conferences. She is also an accomplished Flamenco performer. Goshka is a native of Poland. She is a graduate of Pearson College and has a Masters degree in Economics from the Warsaw School of Economics (SGH)

Guy Armstrong, Senior Consultant

Guy came on board in early 2006. He is an important member of the senior team at IEI. Guy hails from Montreal. His first university degree was in science. He started his professional life as a research biologist, and served as a research associate at the University of Toronto’s Forestry Faculty. We’re not sure if it was photosynthesis, but Guy soon saw the light and shifted to the world of finance. He earned an MBA in Finance and then moved into the real world, where he gained 15 years of broad and extensive research experience while working for two of the Big Six banks, a trust company, and a major financial planning organization. It’s this multi-faceted background in financial services—encompassing retail banking, manufacturing, regulation and distribution—that, in conjunction with his exceptional analytical skills, makes Guy such a vital member of our team. He has made his presence felt in many ways. He is increasingly engaged in providing our clients with fact- and analytic-based recommendations on wealth business strategies focused on pricing, distribution and compensation.

Away from the office, Guy is a devoted family man. His main accountabilities are homework helper, soccer coach and chauffeur. All things considered, he is quite a GUY.

Anil Byroe, Manager, Information Technology

Anil came onboard full-time in January 2003, but he worked with Investor Economics for a number of years while obtaining his diploma in Computer Programming Analysis. Anil is one of those 20-something individuals who can do amazing things with computers and databases. He does his thing behind the scenes, but he makes a sizable contribution by helping to make all of us at IEI more productive in conducting our research, producing reports, and serving our clients. Anil also has an excellent bloodline, evidenced by the fact that his big sister Pam is one of our star research analysts. Our happiness with the Byroe family has encouraged us to consider cloning.

Pam Byroe, Senior Manager of Data Systems

Pam first came to Investor Economics in 1996 as a high school co-op student. Her career development stands as one of our firm's biggest achievements. Pam has rapidly developed into an integral member of our analytical team. She is hardworking, helpful, and definitely the sweetest person at Investor Economics. Her primary focus is on investment funds research, and she spearheads the production of the Insight Index Funds Report. Pam has a Computer Programming Information Systems Diploma from Humber College and is an Oracle Certified Professional.

Carlos Cardone, Senior Consultant

Argentina's loss is a big win for Investor Economics. Carlos es muy talentoso. Trained as a market analyst, Carlos came to us with several years' experience in the automotive industry of Central and South America. He is a research whiz with a deep understanding of computers, databases and software tools. His contribution at IEI, where he is heavily immersed in fund industry research, was immediate and significant. Ahora dos personas en Investor Economics hablan espanol con fluidez. Ole Carlos.

Alan Ewing, Manager of Administration and Client Services

A courier recently told Alan that he has the neatest desk in the city. That is Alan in a nutshell. He is the epitome of efficiency and organization. He brings these important qualities to bear in making our office hum and in taking care of clients. Alan is far more than a one-person 'help desk', however. He is an integral part of our editorial and production team. Alan arrived on the scene in 1998, having previously worked for several leading Canadian public art galleries, and as Program and Membership Coordinator at the Ontario Association of Art Galleries. He has a Bachelor of Arts degree in Art History from the University of Calgary.

Andrew Hamer, Senior Analyst, Strategy Consulting

Andrew is the prototypical Triple-A all-round guy. Academically, he graduated with distinction from the Richard Ivey School of Business. Artistically, Andrew not only plays the piano, but is also a classically trained vocalist who has toured and performed in major concert venues across North American and the Caribbean. Last but not least is Andrew’s athletic prowess. He excelled as a ‘AAA’ hockey player, and still plays the sport twice weekly. During the daytime, Andrew crashes the boards and makes sweet music on behalf of Investor Economics Strategy Consulting clients, who have come to benefit from the intellect, boundless enthusiasm, and solid work ethic that has made Andrew a prized addition to the Investor Economics team. Oh, and he’s a heck of a fine fellow too.

Shaun Hildebrand, Senior Analyst

Physical strength is the first thing you think of when you meet Shaun. He is certainly athletic, but what we like most about Shaun—who came on board in mid-2005—is his intellect and solid work ethic. After graduating with distinction from Carleton University with an MA in Economics, Shaun’s first taste of work life came in the public sector at Environment Canada. He also put in time in the research department at the Bank of Canada. At IEI, all of Shaun’s skills and work experience are being put to good use. His arrival was closely linked to our desire to deepen our knowledge and understanding of matters pertaining to household economics. Our Household Balance Sheet and segmentation research are therefore natural areas of focus for Shaun. The development of regional balance sheets and the addition of real estate and credit measures to our wealth metrics are important by-products of that focus.

Shelly Deonaraine, Administrative Assistant

Shelly joined IEI in mid-2004, and is the first point of contact when you call or visit Investor Economics. She also helps out with several tasks and projects on behalf of the IEI team. Office supplies are her forte-she is renowned for her detailed knowledge of the Grand & Toy and Business Depot catalogues. But most of all, Shelly has a wonderful and friendly personality-always smiling and giggling. She is a die-hard and ever hopeful Blue Jays fan, which makes her ideally suited to be 'keeper of the keys' to IEI's Blue Jays tickets.

Ann MacPherson, Operations

Ann has been with Investor Economics since the firm's inception, and oversees all operations matters. She is as important to our firm, clients and suppliers as a transmission is to a car, since we could not function properly without her. Accounting, premises issues, human resources and administration all fall under Ann's purview. She holds an undergraduate degree in English and an LLB from the University of British Columbia. Ann loves to surf the net, especially with racquet and balls.

Victor Mussi, Consultant, Strategy Consulting

Investor Economics is the first career stop for Victor, who is a natural fit for our Strategy Consulting team. A commerce graduate from the Queen’s School of Business—where he was on the Dean’s Scholarship list each year—Victor’s passion for business and the consulting world was aptly demonstrated by his second-place showing in the International Business Competition at the University of Texas in 2005. Being multilingual with fluency in and/or working knowledge of five languages doesn’t hurt either. Victor’s extensive volunteer and community involvement and love of sports (especially squash, tennis and golf), not to mention his passion for cars, shows that he is not just about business. In short, he is multi-faceted and multi-talented—a perfect fit for IEI.

Keith Sjögren, Director, Research and Advisory Services

Having a cadre of ‘young turks’ with high proficiency in finance, data crunching and computers is an important precondition for a successful consulting organization. But so is the wisdom that comes from many years of senior executive knowledge and a wide range of experience—both domestic and international—and a knack for clearly communicating ideas both in the spoken and written form. It is these talents that Keith Sjögren has brought to Investor Economics from The Taddingstone Consulting Group where, for the past decade, he was Leader of the Wealth Management practice. Previously, Keith held a number of senior executive positions at a major Canadian bank, including Senior Vice President, Private Banking and Trust. Keith’s career spans retail banking, wealth management and international banking. He has lived and worked in the United States, Iran, the United Kingdom and Singapore.

Keith is one of the leaders in our Investor Economics senior team, adding greater depth to our industry knowledge, especially in the area of high net worth. He has authored articles for publications in Canada, the United States and the United Kingdom; lectured at a number of Canadian universities; and is a frequent speaker at financial services industry conferences.

Keith was educated at Carleton University in Ottawa and at the University of Toronto. He is a Fellow of the Institute of Canadian Bankers. In addition to his professional responsibilities, Keith sits on the Investment Committee of the Centre for Addiction and Mental Health, and is a member of the President’s Advisory Council of Carleton University. He is a past Director of the Canadian Opera Company. He is married and has two sons.

Iassen Tonkovski, Senior Analyst

Iassen is one of the three young bucks who came on board at IEI in 2005. His personal story has perseverance, hard work and achievement written all over it. Iassen arrived in Canada a decade ago from his native Bulgaria with nary a word of English in his vocabulary. That’s not the case now. He has learned English, worked day and night to put himself through university, and gained valuable work experience at a major fund company and insurance company. Academically, Iassen’s sights are now set on earning his CFA. At IEI he has settled right in as an analyst concentrating on investment funds, fund wraps and life insurance segregated funds. Along with the abovementioned skills and experience, we see in Iassen a combination of enthusiasm, positive energy and a zest for learning that we are sure will pay large dividends for IEI and its clients.

Adriana Touron, Analyst

You do not have to be a rocket scientist to work at Investor Economics, but we have one—sort of. Before relocating to Canada from Argentina, Adriana worked for the Argentine Space Agency. Not as a rocket scientist, though—which might not be a bad thing since Argentina is not famous for aerospace achievements—but as a senior member of the accounting and finance team. At Investor Economics, Adriana is putting her experience working with financial data to good use as one of our analysts. She is notorious for her tremendous work ethic and attention to detail in the building of our information warehouse. She also provides helpful Spanish tips to certain members of our office who are struggling to learn that wonderful language. Adriana is a graduate in Economics from the University of Buenos Aires.