TWO INVESTMENT COMPANIES TO MERGE
By Adnews Staff
Laketon Investment Management Ltd. plans to merge with Indago Capital Management Inc., both of Toronto. Under the deal, the company will operate under the Laketon Investment Management name. Jock Fleming, currently president and managing partner of Indago, will become the chief operating office of Laketon. Tony Brebner, currently president and CEO of Laketon, will become chairman of the company. "This merger will enable Laketon to draw on the investment management strengths of each organization, creating a larger, broader, deeper firm to serve our clients," Brebner and Fleming say in a release. Until now, Laketon has done little advertising. When it did advertise, the ads were targeted to consultants and were created in-house. Brebner told Adnews yesterday that the company hasn't had much success with other ad campaigns and will be talking with Indago in the next month to discuss marketing plans. The agreement is expected to close in February. Laketon also has an office in Edmonton. It serves businesses, foundations and retirement plans across the country. Laketon currently manages about $2.3 billion in assets for its clients. Indago dates back to 1963, when the Canada Life Assurance Company established a department to manage segregated funds. With the growth of these funds, the department became an investment subsidiary in 1977, focusing on the management of retirement, endowment and private capital funds.