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IGM names new CEO for Mackenzie Inc.

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IGM Financial has named Jeffrey Carney as president and CEO of its Toronto-based Mackenzie Inc. replacing Charlie Sims.

It's the second day in a row of senior management moves by Winnipeg financial institutions controlled by Power Financial Corp.

Yesterday Great-West Lifeco appointed a new CEO and board chairman.

IGM reported slight declines across the board in its first quarter results released this morning.

Net earnings for the first quarter were down 9.2 per cent compared the same period last year to $180.5 million.

Revenue for the quarter was $652.7 million, down 3 per cent.

Total assets under management was down only slightly to $125.8 billion from $124.1 billion on March 31, 2012.

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