Richard E. Rooney

President at Burgundy Asset Management Ltd.

Richard E. Rooney

Richard E. Rooney

President at Burgundy Asset Management Ltd.

Overview
Career Highlights

Burgundy Asset Management Ltd.

RelSci Relationships

1430

Number of Boards

11

Number of Awards

2

Contact Data
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Relationships
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Co-Founder at First National Financial Corp. (Ontario)

Relationship likelihood: Strong

Chairman & Founder at Burgundy Asset Management Ltd.

Relationship likelihood: Strong

Chief Investment Officer at Burgundy Asset Management Ltd.

Relationship likelihood: Strong

President & Chief Executive Officer at Empire Life Investments, Inc.

Relationship likelihood: Strong

Former Chairman & Chief Executive Officer at Guardian Group of Funds Ltd.

Relationship likelihood: Strong

Director & Executive Vice President at E-L Financial Corp. Ltd.

Relationship likelihood: Strong

Dean & James M. Tory Professor of Law at University of Toronto - Faculty of Law

Relationship likelihood: Strong

Chairman of the Board, President & Chief Executive Officer at E-L Financial Corp. Ltd.

Relationship likelihood: Strong

Treasurer at Dominion & Anglo Invest Corp. Ltd.

Relationship likelihood: Strong

Founding Partner & Managing Member at Oskie Capital Management LLC

Relationship likelihood: Strong

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Richard E. Rooney
President at Burgundy Asset Management Ltd.
Education
Class of 1981

The Ivey Business School is located on Western University's campus in London, Ontario, Canada. Its MBA, along with a range of other programs, is offered by Western University, but it is managed separately with its own dean and budget. Its primary location is London, Ontario, but the school also has two executive teaching facilities in Toronto and Hong Kong. The University of Western Ontario created the Department of Commercial Economics within the Faculty of Arts in 1922 to offer elective course work in business. The first degree program was the Bachelor of Arts (Honors) in Business Administration (HBA). The school has been consistently ranked as one of Canada's top business schools

BA
Class of 1977

Established in 1827, the University of Toronto has one of the strongest research and teaching faculties in North America, presenting top students at all levels with an intellectual environment unmatched in depth and breadth on any other Canadian campus. With more than 82,000* students across three campuses (St. George, Mississauga and Scarborough) and over 500,000 alumni active in every region of the world, U of T's influence is felt in every area of human endeavour.

Memberships
Fellow
2009 - Current

Canadian Institute of Chartered Accountants engages in the provision of accounting, auditing, tax, advisory, and professional services. The institute is headquartered in Toronto, Canada.

Member
Current

The Mission of the CFA Institute is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.

Fellow
Current

The Institute of Chartered Accountants of Ontario foster's public confidence in the CPA profession by acting in the public interest and helping our Members excel.

Career History
Accountant
1981 - 1983

In 1849 Samuel Lowell Price, an accountant, founded an accountancy practice in London, England. In 1865 Price went into partnership with William Hopkins Holyland and Edwin Waterhouse. Holyland left shortly afterwards to work alone in accountancy and the firm was known from 1874 as Price, Waterhouse & Co. By the late 19th century, Price Waterhouse had gained significant recognition as an accounting firm. As a result of growing trade between the United Kingdom and the United States, Price Waterhouse opened an office in New York in 1890, and the American firm itself soon expanded rapidly. The original British firm opened an office in Liverpool in 1904 and then elsewhere in the United Kingdom and worldwide, each time establishing a separate partnership in each country: the worldwide practice of PW was therefore a federation of collaborating firms that had grown organically rather than being the result of an international merger.

Portfolio Manager, Canadian Equities
1984 - 1988

Sun Life Assurance Company of Canada provides life insurance and other financial services. It offers saving, retirement and pension products and life and health insurance to individuals and groups through its operations in Canada, the United States, the United Kingdom and Asia. Sun Life Assurance's product range includes health and life insurance, retirement plans, my Choice plans, total benefits and workplace solutions. The company was founded in 1865 by Mathew Hamilton Gault and is headquartered in Toronto, Canada.

Portfolio Manager
1989 - 1995

AMI Partners is a value manager that employs qualitative and quantitative research to manage Canadian equity, US equity, foreign equity, fixed-income and balanced portfolios. In general, the firm tends to invest in the stocks of Canadian and US large-cap companies in the finance, energy minerals and non-energy minerals sectors. The firm manages portfolios of US equities and international equities using ETFs to replicate the market return. AMI's international assets are managed by JP Morgan Asset Management.The firm's Canadian equity investment process is based on bottom-up research. Their Canadian equity strategies include: Core, Growing Income and Small-Cap.AMI's core equity management style uses a bottom-up investment process that is characterized by low tracking error against the benchmark and focuses on buying undervalued companies with improving fundamentals. The firm uses proprietary software to assess the value of large-cap and mid-cap stocks using historical book value, projected return on equity and historical relative p/e ratio compared to the market. They determine the intrinsic value of a stock to define the true long-term price level. AMI considers a stock to be reasonably priced when it is trading below its intrinsic value. Additional qualitative research is then used to evaluate the company's strengths and future prospects. A model portfolio is established with broad diversification across industry sectors. Fundamental and intrinsic value analysis is used to identify companies for purchase. The firm purchases the stocks of companies: (1) whose stock price is below its intrinsic value, indicating attractive return potential (2) that show evidence of improving fundamentals and (3) that have effective management teams. The firm will sell a stock when: (1) the target price is met (2) a company trades above its intrinsic value (3) it no longer meets AMI's quality criteria or (4) the original investment rationale fails to persist.AMI emphasizes stock selection over industry rotation. Industry weights are generally influenced by stock selection, but are also carefully monitored to ensure broad diversification. Industry weights will be 6 percentage points of the benchmark weight and portfolios will have investments in at least 8 of the 10 industry sectors. The AMI Core Model Portfolio consists of 40 to 60 large-cap and mid-cap stocks plus units of the AMI Small Cap Pooled Fund. The firm follows clients' policy statements on benchmarks and maximum holdings for individual securities. If given full discretion, the maximum holding in any one security will be 15%. Individual holdings are maintained within +/- 3% of the benchmark weighting.AMI's growing income equity strategy uses a bottom-up approach to invest in Canadian companies growing dividend streams, stable growth in earnings, quality management, positive cash flows and strong balance sheets.AMI's small-cap investment strategy invests in Canadian companies which are expected to have strong growth in earnings or cash flow and are selling at reasonable valuations. Particular emphasis is placed on the quality of management. The portfolio is broadly diversified across industry groups.The firm uses an enhanced passive style to invest in US equities. AMI invests a portion of the US equity exposure in mid-cap and small-cap US equity ETFs while holding a core position in S&P 500 Index ETFs. Assets are generally allocated 40% to 100% in large-cap (S&P 500 Index ETFs), 0% to 50% in mid-cap (S&P 400 Index ETFs) and 0% to 50% in small-cap (S&P 600 Index ETFs). Their benchmark for allocation is 50% large-cap, 25% mid-cap and 25% small-cap.AMI's fixed-income strategy follows a broad based approach that seeks consistent returns above the benchmark. They employ multiple strategies including (1) setting duration levels (2) yield curve strategies (3) sector allocation and (4) credit analysis. Shifts are made over the forecast horizon to take advantage of opportunities that result from market volatility. Assets are allocated among federal government, provincial, municipal and corporate bonds. The firm's fixed-income products include: the Universe Portfolio and the Corporate Bond Portfolio.AMI's corporate bond fund invests in investment grade corporate bonds that are allocated among sectors and credits within the Canadian corporate bond market. They seek to outperform the DEX Corporate Bond Index by 30 basis points over the long-term. The fund invests in investment grade bonds with a minimum credit rating of BBB-. The fund generally holds 40 to 60 individual issues.AMI's balanced portfolios are broadly diversified across investments in fixed-income securities, Canadian, US and international equities and cash. The firm seeks to add value and reduce volatility by overweighting asset classes that are expected to outperform based on their forecasts.

Boards & Committees
Director
2012 - 2016

The Empire Life Insurance Co. engages in the provision of financial products and services. It operates through the following products lines: Wealth Management, Employee Benefits, Individual Insurance, and Capital and Surplus. The company was founded by Milton Palmer Langstaff on January 11, 1923 and is headquartered in Kingston, Canada.

Director
Prior

The Dominion of Canada General Insurance Co. was provided insurance services. The company was founded in 1887 and was headquartered in Toronto, Canada.

Director
Tenure Unconfirmed

E-L Financial Services Ltd. operates as a bank holding company. It offer services through its subsidiary The Empire Life Insurance Co. underwrites life and health insurance policies in Canada. The company is headquartered in Kingston, Canada.

Member, Board of Directors
2017 - Current

The Princess Margaret Cancer Foundation began raising funds for cancer research at Princess Margaret Cancer Centre in 1982. Since then, the Foundation has raised well over $1 billion for one of the world's top 5 cancer research centres. Relentless in our quest to raise funds to conquer cancer in our lifetime, we launched a 5-year Billion Dollar Challenge in 2012. It was the most ambitious campaign undertaken in Canadian healthcare history, and we are proud to announce we secured the $1 billion ($532 million secured in philanthropic support and $520 million secured in research grants), ahead of schedule. Setting ambitious goals is driven by our culture and our passion to perform. The Foundation has pioneered many successful types of fundraising including mega lotteries and large-scale events recruiting thousands of participants/fundraisers such as our Rexall OneWalk to Conquer Cancer and Enbridge Ride to Conquer Cancer, to name a few.

President, Board of Trustees
Current
Member Emeritus, Board of Trustees
Current

Founded in 1900 by a group of private citizens as the Art Museum of Toronto, the Art Gallery of Ontario is one of the largest art museums in North America, with a physical facility of 583,000 square feet. The AGO expanded it facility in 2008 with an innovative architectural design by world-renowned architect Frank Gehry. The AGO maintains a comprehensive collection of Contemporary art spanning from 1960 to the present, reflecting global developments in artistic practice across all media, including painting, sculpture, works on paper, photography, projection art, and installation art. The collection is defined by strong holdings of leading Canadian artists such as David Altmejd, Brian Jungen, Jeff Wall, Shirley Wiitasalo, and inflected by major works by international artists such as Mona Hatoum, Gerhard Richter, Doris Salcedo, Tino Sehgal, Cindy Sherman, Richard Serra, Kara Walker, and Andy Warhol.

Non-Profit Donations & Grants

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$1M - $5M
2018

Established in 1827, the University of Toronto has one of the strongest research and teaching faculties in North America, presenting top students at all levels with an intellectual environment unmatched in depth and breadth on any other Canadian campus. With more than 82,000* students across three campuses (St. George, Mississauga and Scarborough) and over 500,000 alumni active in every region of the world, U of T's influence is felt in every area of human endeavour.

$10K - $25K
2017

The Princess Margaret Cancer Foundation began raising funds for cancer research at Princess Margaret Cancer Centre in 1982. Since then, the Foundation has raised well over $1 billion for one of the world's top 5 cancer research centres. Relentless in our quest to raise funds to conquer cancer in our lifetime, we launched a 5-year Billion Dollar Challenge in 2012. It was the most ambitious campaign undertaken in Canadian healthcare history, and we are proud to announce we secured the $1 billion ($532 million secured in philanthropic support and $520 million secured in research grants), ahead of schedule. Setting ambitious goals is driven by our culture and our passion to perform. The Foundation has pioneered many successful types of fundraising including mega lotteries and large-scale events recruiting thousands of participants/fundraisers such as our Rexall OneWalk to Conquer Cancer and Enbridge Ride to Conquer Cancer, to name a few.

$25K - $100K
2016

Established in 1827, the University of Toronto has one of the strongest research and teaching faculties in North America, presenting top students at all levels with an intellectual environment unmatched in depth and breadth on any other Canadian campus. With more than 82,000* students across three campuses (St. George, Mississauga and Scarborough) and over 500,000 alumni active in every region of the world, U of T's influence is felt in every area of human endeavour.

Awards & Honors
1987
CFA (Chartered Financial Analyst)
1984
CA (Chartered Accountant)
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