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IGM Financial Simplifies Organization to Accelerate Investment in Key Technology Capabilities to Strengthen Business

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5 months ago

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WINNIPEG, MB, June 17, 2026 /CNW/ – IGM Financial Inc. (“IGM” or the “Company”) today announced a multi-year initiative to further simplify how the organization operates. This effort is designed to reduce complexity and costs. This, in turn, will free up capacity to increase investment in key AI capabilities — supporting IGM’s evolution as a technology-enabled business while continuing to prioritize its human-first, relationship-driven approach to serving clients, and strengthening the Company to support long-term growth.

IGM has been modernizing its operating model and its technology platforms over several years in response to changing client needs, technological advancements and industry dynamics. Today’s announcement represents the next step in that evolution.

“We are building an AI-enabled organization that enhances, not replaces, the trusted relationships at the core of our business,” said James O’Sullivan, President and CEO, IGM Financial. “While much is still evolving, we are encouraged by the opportunities AI is providing to elevate the advice experience, empower our advisors and employees, and deliver even stronger outcomes for clients, while staying grounded in the personal connections that define our model.”

“As a result, we are taking deliberate steps to simplify how we operate so we can execute more effectively and deliver on our long-term strategy,” continued Mr. O’Sullivan. “This initiative creates greater capacity to invest in the capabilities that will define the future of wealth and asset management.”

To support these objectives, IGM has reviewed its organizational structure, operating model and cost base. The Company is taking a series of actions to improve efficiency, lower ongoing costs and create greater enterprise agility. These savings will be reinvested to expand IGM’s AI capabilities. This includes:

Further consolidation of team structures and streamlining workflows to drive efficiency and increase alignment with strategy.Upskilling its existing workforce and enhancing capabilities through targeted hiring in areas such as AI leadership, process redesign, data engineering, agent development and deployment, and governance.Advancing key technology, data and AI capabilities across the enterprise.

It is anticipated that this initiative will generate approximately $70 million in annualized savings by the end of 2028. This will be reinvested in AI capabilities, with a focus on people, processes and technologies to further strengthen the Company while allowing it to manage expense growth prudently. IGM is maintaining its operations, support and business development expense growth target of 4 per cent for 2026 relative to 2025. The Company expects to record a one-time charge of approximately $95 million or $70 million after-tax in Q2 related to these activities, including severance and the accelerated accounting recognition of certain incentive programs related to CEO transition.

Through this effort, IGM will scale its use of AI and other advanced technologies across its wealth and asset management businesses to enhance client outcomes, advisor productivity, and operational efficiency, while continuing to deliver personalized advice and service through strong, trust-based relationships.

This includes expanding tools and capabilities that support its IG Wealth Management advisors in areas such as meeting preparation, client interactions, and workflow efficiency, as well as enhancing investment processes and decision-making at Mackenzie Investments.

At the same time, IGM is strengthening its enterprise-wide capabilities by investing in workforce skills, including through training programs such as the IGM AI Academy, enhancing its AI technology foundation, and expanding targeted areas of expertise.

The Company will also continue advancing automation in areas such as contact centres and back-office operations, supported by strong governance, risk management, and data security practices.

ABOUT IGM FINANCIAL INC.

IGM Financial Inc. (“IGM”, TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $338 billion in total assets under management and advisement as of May 31, 2026. The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM’s activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complemented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM’s capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies. For more information, visit igmfinancial.com.

SOURCE IGM Financial Inc.

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ASTRI Establishes Advisory Board for Smart Mobility Technology Alliance

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32 minutes ago

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November 6, 2026

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Bringing Together Industry, Academia and Research to Drive Mobility Innovation

HONG KONG, Nov. 6, 2026 /PRNewswire/ — The Hong Kong Applied Science and Technology Research Institute (ASTRI) announced the establishment of an Advisory Board for the Smart Mobility Technology Alliance (SMTA), an industry-leading initiative designed to accelerate the adoption and scaling of next-generation smart mobility technologies across the Greater Bay Area and beyond. The SMTA aims to address critical challenges and foster a commercially-driven ecosystem for innovation in the smart mobility sector.

The newly-formed Advisory Board comprises distinguished leaders from infrastructure, transport, telecommunications, and academia, offering a wide-ranging blend of industry expertise, market intelligence and policy insight. Drawing on their extensive network and experience across the public and private sectors, the Advisory Board will shape the SMTA’s strategic priorities, identify emerging opportunities, and provide guidance on the evolving mobility landscape.

“The formation of the SMTA Advisory Board underscores ASTRI’s commitment to advancing Hong Kong as a regional leader in technology-driven mobility,” said Ir Dr Ted Suen, Chief Executive Officer of ASTRI. “By uniting industry, government, academia and research around a shared vision, this strategic alliance will unlock commercial opportunities and deliver transformative solutions that redefine the future of mobility,” he added.

The Advisory Board provides strategic guidance on SMTA’s vision and research and development priorities, helping to align its initiatives with market needs and commercialisation opportunities. It supports ecosystem development by fostering partnerships across industry, academia and the public sector, while facilitating pilot projects and encouraging innovation and entrepreneurship. The Board also offers insights on policy and standards, and promotes engagement with key stakeholders and international partners to advance future mobility innovation.

Members of the Advisory Board for Smart Mobility Technology Alliance include:

Chairman

Dr Ying Huang, Chief Technology Officer, ASTRI

Deputy Chairman

Mr Dominic Chow, Deputy Director-General of Civil Aviation, HKSAR Government

Secretary

Dr Ivan Sham, Chief Director, Technical Solutions Business Development, ASTRI

Members (by alphabetical order in surname)

Mr Lawrence Fong, Director, Digital and IT, Cathay Pacific Airways LimitedMr William Ho, Executive Director, Corporate Development, Airport Authority Hong KongIr Dr John Hui, Deputy Executive Director, Vocational Training CouncilMr Ryan Ip, Vice President of Our Hong Kong FoundationProf Mei-po Kwan, Director, Institute of Space and Earth Information Science, The Chinese University of Hong KongDr Gabriel Leung, Chief Executive Officer, Enterprise Solutions, Hong Kong Broadband Network LimitedMr Roger Ma, General Manager (Operations), Citybus LimitedMr Steve Ng, Managing Director, Commercial Group, HKT LimitedMs Sylvia Ng, Deputy Director, Corporate Development, MTR Corporation LimitedMr BY Sim, General Manager (Hong Kong SAR), Thales Solutions and Services Hong Kong LimitedMr Alex Wong, Deputy CEO, Corporate Affairs, Hong Kong Representative Office, Huawei International Co LimitedDr Rosana Wong, Deputy Chair and Executive Director, Yau Lee Holdings LimitedMs Yan Yan, General Manager, Keeta Drone Hong KongMs Theresa Yeung, Managing Principal, East Asia, Ove Arup & Partners Hong Kong Limited

Launched by ASTRI in April 2023, the Smart Mobility Technology Alliance (formerly the Smart Mobility Technology (C-V2X) Alliance) provides a networking and knowledge sharing platform for ecosystem stakeholders. These include infrastructure manufacturers, telecommunications providers, EV and drone developers, system integrators, and end users from China, in particular the Greater Bay Area, and overseas markets, all seeking to explore collaboration and technology commercialisation in the smart mobility field.

SMTA Website: https://smta.astri.org/

Photos Download: https://bit.ly/4s0M9ex

 

About ASTRI

Founded in 2000 by the HKSAR Government, Hong Kong Applied Science and Technology Research Institute (ASTRI) is the city’s largest government-funded R&D centre. Committed to transforming high-impact research into practical innovations, ASTRI drives market-driven, interdisciplinary advancements across sectors, including Smart City, FinTech, Digital Health and Life Sciences, New Industrialisation and Intelligent Manufacturing, Application-Specific Integrated Circuits (ASIC) and Advanced Electronics, New Energy and Energy Storage, and Green and ESG Technologies. Following its merger with the Nano and Advanced Materials Institute, ASTRI has further strengthened its capabilities, with over 1,500 patents and 2,200 successful cases of technology transfer. Recognised with numerous international awards, ASTRI continues to nurture top I&T talent and foster collaborations among the I&T ecosystem, contributing to Hong Kong’s high-value economic development. For more information, please visit: https://www.astri.org

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/astri-establishes-advisory-board-for-smart-mobility-technology-alliance-302931698.html

SOURCE Hong Kong Applied Science and Technology Research Institute (ASTRI)

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2026 World Internet Conference Wuzhen Summit Opens

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32 minutes ago

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November 6, 2026

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WUZHEN, China, Nov. 5, 2026 /PRNewswire/ — A news report from CRI Online

The 2026 World Internet Conference (WIC) Wuzhen Summit opened on November 3 in Wuzhen, Tongxiang City in Zhejiang Province, under the theme “Open Source and Openness, Joined Contribution and Shared Benefits — Jointly Building a Community With a Shared Future in Cyberspace”. Approximately 1,800 participants attended the opening ceremony, including government officials from various countries, heads of international organizations such as the United Nations, representatives of global Internet companies, and experts and scholars.

View original content to download multimedia:https://www.prnewswire.com/news-releases/2026-world-internet-conference-wuzhen-summit-opens-302931703.html

SOURCE CRI Online

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Forum on Exchanges and Mutual Learning among Civilizations in Cyberspace held at 2026 WIC Wuzhen Summit

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32 minutes ago

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November 6, 2026

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WUZHEN, China, Nov. 6, 2026 /PRNewswire/ — A news report from CRI Online:

The Forum on Exchanges and Mutual Learning among Civilizations in Cyberspace was held in Wuzhen, east China’s Zhejiang Province, on November 4 as part of the 2026 World Internet Conference (WIC) Wuzhen Summit.

Themed “Deepening Exchanges and Mutual Learning among Civilizations, Building a Better Online Home Together,” the forum aimed to promote the Global Civilization Initiative and advance exchanges among civilizations in cyberspace, contributing to a community with a shared future in cyberspace.

Yang Jianwen, deputy director of the Cyberspace Administration of China; Hu Wei, vice governor of Zhejiang Province; and Peng Jianming, a member of China Media Group’s editorial board, delivered opening remarks.

Keynote speakers shared achievements and practical experience in digital cultural heritage preservation and development, international youth exchanges and talent development, cross-cultural communication by mainstream media, and film and television production.

A roundtable discussion explored “Co-Creating Diverse Online Content, Unlocking New Paradigms for Dialogue among Civilizations.”

The forum also launched the “Initiative for Improvement of Minors’ Internet Literacy.” Representatives from the Cyberspace Administration of China’s Bureau of Internet Social Work, the Ministry of Education’s Department of Basic Education, the ministry’s Center for Educational Technology and Resource Development, and Tencent, together with Peking University experts, jointly launched the initiative.

The micro variety show project “Civilizations in Conversation” was also unveiled. A Chinese opera artist and a British performer of Chinese opera jointly presented “Shared Operatic Charm: Face-Changing Show Featuring a Foreign ‘Monkey King'” during an intangible cultural heritage showcase.

Hosted by China Media Group and co-organized by CRI Online, Huawei and RayNeo, the forum attracted more than 120 participants, including government officials, experts and scholars in online culture, technology company executives, and prominent online personalities.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/forum-on-exchanges-and-mutual-learning-among-civilizations-in-cyberspace-held-at-2026-wic-wuzhen-summit-302931738.html

SOURCE CRI Online

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