TORONTO, March 2, 2016 /CNW/ - The Westaim Corporation
("Westaim") (TSXV: "WED") is pleased to announce that
Jon Short has joined Arena
Investors, LP ("Arena") as President effective March 2, 2016.
Mr. Short brings 29 years of investment experience to his new
role at Arena. He joins the company from PIMCO, where he served for
ten years, most recently as a managing director, head of global
wealth management and head of the firm's New York office. Prior to this role, he was
head of the firm's institutional business group. Before joining
PIMCO, Mr. Short held various senior distribution and portfolio
management positions at Fidelity Investments, Putnam Investments
and Salomon Brothers. He earned an
MBA from MIT's Sloan School of
Management and a B.S. from Georgetown
University.
J. Cameron MacDonald, President
and Chief Executive Officer of Westaim, said: "We are thrilled that
Jon is joining Arena. His addition to the Arena management team
tells me that the Arena business model is as exciting to other
players in the alternative asset management industry as it is to us
here at Westaim."
Daniel B. Zwirn, Chief Executive
Officer of Arena, said: "Jon has a remarkable track record as a
senior executive and leader in the asset management industry. He is
uniquely qualified to oversee and drive the continued strategic
development of Arena. We are delighted to have him as our partner
and look forward to working together as we continue to expand our
business."
"The world of non-bank credit is a rapidly growing part of the
alternative investment industry. Arena is uniquely positioned to
address the investment management requirements of sophisticated
investors around the world. I look forward to working with one of
the most experienced and talented teams in this industry," said
Jon Short.
About Westaim
Westaim is a publicly traded Canadian investment company
specializing in providing long-term capital to businesses operating
primarily within the global financial services industry. Westaim
invests, directly and indirectly, through acquisitions, joint
ventures and other arrangements, with the objective of providing
its shareholders with capital appreciation and real wealth
preservation. Westaim's strategy is to pursue investment
opportunities with a focus towards the financial services industry
and grow shareholder value over the long-term. Westaim's
investments include significant interests in Houston International
Insurance Group, Ltd. and the Arena Investors group of companies
(the "Arena Group"). The Arena Group, including Arena
Finance Company Inc. and Westaim Origination Holdings, Inc., have
committed assets under management of approximately US$300 million.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Except for statements of historical fact contained herein,
information in this press release may constitute "forward-looking
information" within the meaning of Canadian securities laws. Other
than statements of historical fact, all statements that involve
various known and unknown risks, uncertainties and other factors
are "forward-looking statements". There can be no assurance that
such statements will prove accurate. Results and future events
could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue
reliance on these "forward-looking statements". Except as otherwise
required by applicable law, Westaim expressly disclaims any
intention or obligation to update publicly any forward-looking
information, whether as a result of new information, future events
or otherwise.
SOURCE Westaim Corporation