Our Team
The Sprucegrove team is comprised of driven, focused individuals with unique backgrounds, all contributing valuable perspectives, knowledge, and experience to our firm. We value equality and inclusivity and appreciate that a team diverse in gender, ethnicities, and life experiences leads to better outcomes for our clients.
March 31st, 2024
Shirley Woo
Experience
As Co-Lead Portfolio Manager, Shirley serves to shape the investment team’s individual and collective expertise, deliver disciplined portfolio management and provide valuable perspectives to clients and consultants.
As a Director, Shirley is responsible for providing oversight, risk management and financial stewardship to ensure the continued success of Sprucegrove.
Shirley has held various roles at Sprucegrove, including Assistant Portfolio Manager and she has been on Sprucegrove’s Board of Directors since 2013. Shirley joined Sprucegrove as a founding shareholder at the firm’s inception in 1993 and worked with the founders for two years prior at Confed Investment Counselling.
Education
• BA, University of Toronto
Arjun Kumar
Experience
As CEO, Arjun is responsible for guiding the overall strategic direction and vision of Sprucegrove and leading the firm’s Business Management Committee.
As Co-Lead Portfolio Manager, Arjun serves to shape the investment team’s individual and collective expertise, deliver disciplined portfolio management and provide valuable perspectives to clients and consultants.
As a Director, Arjun is responsible for providing oversight, risk management and financial stewardship to ensure the continued success of Sprucegrove.
Arjun has held various roles at Sprucegrove, including Investment Analyst, Senior Investment Analyst and Assistant Portfolio Manager. Arjun joined Sprucegrove in 2002 and the firm’s Board of Directors in 2017.
Education
• MBA, University of Toronto
• HBA, University of Toronto
Jonathan Singer
Experience
As a Portfolio Manager, Jonathan has a broad range of responsibilities including engaging in diverse research projects, contributing to the portfolio management process and meeting with clients and consultants.
As Research Director, Jonathan manages, mentors and guides Sprucegrove’s investment analysts to ensure consistency in the high-quality research produced by the team.
Jonathan joined Sprucegrove in 2008 following seven years at Hewitt Associates. Jonathan has held various roles at Sprucegrove and joined the firm’s Business Management Committee in 2020.
Education
• HBA, York University
Christopher Rankin
Experience
As a Portfolio Manager, Chris has a broad range of responsibilities including engaging in diverse research projects, contributing to the portfolio management process and meeting with clients and consultants.
Chris also oversees all proxy-related matters and leads the Research Team’s various ESG initiatives.
Chris has held various roles at Sprucegrove, including Assistant Portfolio Manager, Investment Analyst, Investment Research Assistant and Portfolio Administrator. Chris joined Sprucegrove in 2003.
Education
• MS Finance, Queen’s University
• HBA, Trent University
• BSc, Queen’s University
Sabu Mehta
Experience
As a Senior Investment Analyst, Sabu performs extensive research searching for high quality companies that satisfy Sprucegrove’s comprehensive valuation criteria. For over 30 years, Sabu has researched global companies with special emphasis on the aerospace, consumer products, specialty chemicals, energy and healthcare sectors.
Sabu joined Sprucegrove as a founding shareholder at the firm’s inception in 1993 and worked with the founders for two years prior at Confed Investment Counselling. Sabu served on Sprucegrove’s Board of Directors from 2015-2024.
Education
• B.Comm, University of Toronto
Matthew Bellis
Experience
As Assistant Research Director, Matthew mentors Sprucegrove’s Investment Analysts to ensure consistent, high-quality research is being produced by the team. He also oversees the Research Assistants Team.
As a Senior Investment Analyst, Matthew performs extensive research searching for high-quality companies that satisfy Sprucegrove’s comprehensive valuation criteria. Matthew also mentors new Investment Analysts and supports the firm’s marketing and client servicing efforts.
Matthew joined Sprucegrove in 2007 as a Research Assistant, was promoted to Investment Analyst in 2014, Assistant Research Director in 2020 and Senior Investment Analyst in 2021.
Education
• B.Comm, University of Windsor
Kyle Koch
Experience
As a Senior Investment Analyst, Kyle performs extensive research searching for high-quality companies that satisfy Sprucegrove’s comprehensive valuation criteria. Kyle also mentors new Investment Analysts and supports the firm’s marketing and client servicing efforts.
Kyle joined Sprucegrove in 2016 after seven years of playing professional football in the Canadian Football League. He was promoted to Senior Investment Analyst in 2021.
Education
• MBA, University of Toronto
• B.Comm, McMaster University
Hugh Nowers
Experience
As an Investment Analyst, Hugh’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Hugh joined Sprucegrove in 2014 and was promoted to Investment Analyst in 2018.
Education
• B.Comm, Dalhousie University
David Kwok
Experience
As a Senior Investment Analyst, David performs extensive research searching for high-quality companies that satisfy Sprucegrove’s comprehensive valuation criteria. David also mentors new Investment Analysts and supports the firm’s marketing and client servicing efforts.
David joined Sprucegrove in 2016 and was promoted to Senior Investment Analyst in 2023.
Education
• MBA, Western University
• B. Comm, University of Toronto
Ihsan Kohistani
Experience
As a Senior Investment Analyst, Ihsan performs extensive research searching for high-quality companies that satisfy Sprucegrove’s comprehensive valuation criteria. Ihsan also mentors new Investment Analysts and supports the firm’s marketing and client servicing efforts.
Ihsan joined Sprucegrove in 2017 and was promoted to Senior Investment Analyst in 2023.
Education
• MA Economics, Queen’s University
• B.Comm, Toronto Metropolitan University
Brad Romain
Experience
As an Investment Analyst, Brad’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Over his career, Brad served as an associate analyst at Desjardins Securities, worked on the equity derivatives trading desk at a large Canadian bank and served as an actuarial analyst for a Canadian insurance company. Brad joined Sprucegrove in 2018.
Education
• HBSc, University of Toronto
Rajeev Saffar
Experience
As an Investment Analyst, Rajeev’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Over his career, Rajeev worked in corporate banking for ICICI Bank Canada, managed sourcing operations for Holcim India and worked at JP Morgan Chase. Rajeev joined Sprucegrove in 2018.
Education
• MBA, University of Toronto
• B.Eng., University of Mumbai
Jonathan Eng
Experience
As an Investment Analyst, Jonathan’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Jonathan joined Sprucegrove in 2020.
Education
• BBA, Wilfrid Laurier University
Mukhtar Mustapha
Experience
As an Investment Analyst, Mukhtar’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Over his career, Mukhtar has held roles in equity research at Credit Suisse and Bank of America Merrill Lynch and at buy-side boutique investment firms. Mukhtar joined Sprucegrove in 2020.
Education
• M.Comm, University of Cape Town
• H. FAPM, University of Cape Town
• B.Comm, University of Cape Town
Ace Cyrus Mirali
Experience
As an Investment Analyst, Ace’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Over his career, Ace worked in mergers and acquisitions at Constellation Software and in the diversified industries group at CIBC Capital Markets. Ace joined Sprucegrove in 2021.
Education
• MBA, York University
• B.Comm, Toronto Metropolitan University
Michael Malanda
Experience
As an Investment Analyst, Michael’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Over his career, Michael has held roles at INFOR Financial and Institutional Shareholder Services. Michael joined Sprucegrove in 2022.
Education
• BBA, Wilfrid Laurier UniversityExperience
Prashanth Uppuluri
Experience
As an Investment Analyst, Prashanth’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Over his career, Prashanth served as a global equity analyst at Foyston, Gordon & Payne, an emerging markets equity analyst at Amwal, M&A with Lehman Brothers and corporate credit with ICICI Bank. Prashanth joined Sprucegrove in 2022
Education
• MBA, University of Michigan
• Chartered Accountant (India)
Natalia Rusu
Experience
As an Investment Analyst, Natalia’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
While at Laurier, Natalia completed co-op terms at Zurich North America as an underwriting analyst and PwC as an external audit associate within asset management. Natalia joined Sprucegrove in 2023.
Education
• HBBA, Wilfrid Laurier University
• HBA, Wilfrid Laurier University
Lauren Pope
Experience
As an Investment Analyst, Lauren’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
While at Laurier, Lauren completed co-op terms at Burgundy Asset Management and Manulife Investment Management’s Venture Capital fund. Lauren joined Sprucegrove in 2023.
Education
• BBA, Wilfrid Laurier University
Carson Dixon
Experience
As an Investment Analyst, Carson’s main duties include conducting comprehensive analyses of global companies to support the portfolio management process, formulating new research ideas and investment recommendations, and developing relationships with company management, analysts and industry experts.
Carson joined Sprucegrove in 2019 as an Associate with Marketing & Client Services. In 2024, Carson was promoted to the role of Investment Analyst.
Education
• B.Comm., University of Guelph
Tasleem Jamal
Experience
Tasleem leads the firm’s efforts to ensure exemplary service to Sprucegrove’s inspiring roster of clients and to build new partnerships.
Over her career, Tasleem has held senior roles at Burgundy Asset Management, Hewitt Associates and Ernst & Young Investment Advisory Services. Tasleem joined Sprucegrove in 2010 and its Business Management Committee in 2014.
Education
• MBA, McMaster University
• B.Comm, McMaster University
• BA, McMaster University
Sebastien Roy
Experience
Sebastien is responsible for Sprucegrove’s relationships with institutional clients, consultants and prospects in Canada and the United States.
Over his career, Sebastien has been responsible for both institutional and retail client services at a prominent provider of OCIO delegated solutions and a boutique investment counselling firm. Sebastien joined Sprucegrove in 2013.
Education
• BA, University of Sherbrooke
Liz Taverna
Experience
Liz is responsible for Sprucegrove’s relationships with institutional clients, consultants and prospects in Canada and the United States.
Over her career, Liz was responsible for client servicing, business development, marketing and consultant relations for 13 years at Mondrian Investment Partners. Liz joined Sprucegrove in 2021.
Education
• B.Sc., St. Joseph’s University
Arjun Kumar
Experience
As CEO, Arjun is responsible for guiding the overall strategic direction and vision of Sprucegrove and leading the firm’s Business Management Committee.
As Co-Lead Portfolio Manager, Arjun serves to shape the investment team’s individual and collective expertise, deliver disciplined portfolio management and provide valuable perspectives to clients and consultants.
As a Director, Arjun is responsible for providing oversight, risk management and financial stewardship to ensure the continued success of Sprucegrove.
Arjun has held various roles at Sprucegrove, including Investment Analyst, Senior Investment Analyst and Assistant Portfolio Manager. Arjun joined Sprucegrove in 2002 and the firm’s Board of Directors in 2017.
Education
• MBA, University of Toronto
• HBA, University of Toronto
Shirley Woo
Experience
As Co-Lead Portfolio Manager, Shirley serves to shape the investment team’s individual and collective expertise, deliver disciplined portfolio management and provide valuable perspectives to clients and consultants.
As a Director, Shirley is responsible for providing oversight, risk management and financial stewardship to ensure the continued success of Sprucegrove.
Shirley has held various roles at Sprucegrove, including Assistant Portfolio Manager and she has been on Sprucegrove’s Board of Directors since 2013. Shirley joined Sprucegrove as a founding shareholder at the firm’s inception in 1993 and worked with the founders for two years prior at Confed Investment Counselling.
Education
• BA, University of Toronto
Sir George W. Buckley
Experience
Sir George W. Buckley is an accomplished business leader known for his exceptional contributions to the global corporate landscape. With a distinguished career spanning several decades, he has held prominent executive and board positions in renowned multinational corporations.
• Chair of the Board, President and Chief Executive Officer of 3M Company
• Chair of the Board and Chief Executive Officer of Brunswick Corporation
• President, Electrical Motors Division and the Automotive and Precision Motors Division of Emerson Electric
• Chair of the Board of Smiths Group
• Chair of the Board of Stanley Black & Decker
• Board Member of Hitachi
• Board Member of PepsiCo
Education
• Ph.D, University of Huddersfield
• B.Sc., University of Huddersfield
Harvey Botting
Experience
Harvey Botting is recognized as a successful business executive, distinguished for his outstanding impact on the global publishing and communications industries. Over his extensive career, he held a variety of senior positions at various industry-leading companies, including serving as Senior Vice President of the publishing arm of Rogers Media. In addition, he was Vice President of European Publishing for Maclean Hunter Limited, with responsibility for companies in eight European countries.
He has also served on the Governing Council of the University of Toronto, the University of Toronto’s President’s International Advisory Council and was Chair of the Board of the Canadian Business Press.
Education
• MJ, Northwestern University
• MBA, University of Toronto
• BA, University of Toronto
Arjun Kumar
Experience
As CEO, Arjun is responsible for guiding the overall strategic direction and vision of Sprucegrove and leading the firm’s Business Management Committee.
As Co-Lead Portfolio Manager, Arjun serves to shape the investment team’s individual and collective expertise, deliver disciplined portfolio management and provide valuable perspectives to clients and consultants.
As a Director, Arjun is responsible for providing oversight, risk management and financial stewardship to ensure the continued success of Sprucegrove.
Arjun has held various roles at Sprucegrove, including Investment Analyst, Senior Investment Analyst and Assistant Portfolio Manager. Arjun joined Sprucegrove in 2002 and the firm’s Board of Directors in 2017.
Education
• MBA, University of Toronto
• HBA, University of Toronto
Jonathan Singer
Experience
As a Portfolio Manager, Jonathan has a broad range of responsibilities including engaging in diverse research projects, contributing to the portfolio management process and meeting with clients and consultants.
As Research Director, Jonathan manages, mentors and guides Sprucegrove’s investment analysts to ensure consistency in the high-quality research produced by the team.
Jonathan joined Sprucegrove in 2008 following seven years at Hewitt Associates. Jonathan has held various roles at Sprucegrove and joined the firm’s Business Management Committee in 2020.
Education
• HBA, York University
Tasleem Jamal
Experience
Tasleem leads the firm’s efforts to ensure exemplary service to Sprucegrove’s inspiring roster of clients and to build new partnerships.
Over her career, Tasleem has held senior roles at Burgundy Asset Management, Hewitt Associates and Ernst & Young Investment Advisory Services. Tasleem joined Sprucegrove in 2010 and its Business Management Committee in 2014.
Education
• MBA, McMaster University
• B.Comm, McMaster University
• BA, McMaster University
Ken Choi
Experience
As Chief Financial Officer, Ken is in charge of Sprucegrove’s finance and information technology functions.
Over his career, Ken has led finance, compliance and operations teams at various investment firms, and worked at Deloitte in its global Assurance and Advisory practice. Ken holds CPA designations in both Canada and the US.
Ken joined Sprucegrove in 2016 and its Business Management Committee in 2018.
Education
• CPA CA, Chartered Professional Accountants of Canada
• CPA, American Institute of Certified Public Accountants
Vashti Maharaj
Experience
In her role as Chief Human Resources Officer, Vashti engages at strategic and operational levels to promote a culture of alignment, accountability and engagement through effective human capital programs.
Vashti is certified in PROSCI’s Change Management Program and is a member of the Human Resources Professional Association of Ontario and the Society of Human Resource Management.
With extensive professional experience across financial services, technology and consulting industries, Vashti joined Sprucegrove in 2016 and its Business Management Committee in 2020.
Education
• BSc., University of the West Indies
Osman Baig
Experience
As Head of Investment Operations, Osman drives operational efficiencies and enhance the overall client experience through the use of strategic technology solutions paired with industry best practices.
Over his career, Osman held senior leadership roles at RBC in operations and client relationship management, servicing some of Canada’s largest asset management firms and pension plans. Osman joined Sprucegrove in 2019 and its Business Management Committee in 2020.
Education
• B.Comm, University of Toronto
• CPA, Chartered Professional Accountants of Canada
• PMP, Project Management Institute
Joe DaSilva
Experience
As Chief Compliance Officer, Joe is responsible for the overall risk and compliance management of Sprucegrove.
Joe is also the firm’s designated Chief Anti-Money Laundering Officer and Chief Privacy Officer.
Over his career, Joe has served in executive capacities at numerous investment managers including Chief Compliance Officer at Aberdeen Standard Investments and Chief Operating Officer at both ROI Advisors and The Hartford. He also served in the regulatory consulting practices at both PwC and Deloitte.
Joe joined Sprucegrove in 2019 and its Business Management Committee in 2020.
Jeremy Gauld
Experience
As Chief Legal Officer, Jeremy handles the legal affairs of Sprucegrove and ensures that business operations are conducted in compliance with applicable rules and regulations.
Over his career, he has served as Chief Legal Officer at Aberdeen Standard Investments and Batterymarch Financial Management, held roles at three global law firms and worked in The White House during the Clinton Administration. Jeremy joined Sprucegrove and its Business Management Committee in 2020.
Education
• JD, Northeastern University
• MBA, Northeastern University
• MS Finance, Northeastern University
• BA, American University
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