Did you know that your version of Internet Explorer is out of date?
To get the best possible experience using our website we recommend downloading one of the browsers below.

Internet Explorer 10, Firefox, Chrome, or Safari.

News

CommonWealth Fund Services Appoints New Managing Directors

May 4, 2015

CommonWealth Fund Services Appoints New Managing Directors

Award-winning hedge fund administrator CommonWealth Fund Services Ltd. has promoted Mackenzie Crawford and Joe Zhang to the roles of Managing Director. The change comes with the transition of responsibilities from Mark Damelin to the two former vice presidents collectively, to facilitate his stepping down as company CEO.

CommonWealth was co-founded by former Chairman of the Toronto Stock Exchange and well-known Canadian money manager John Clark and Mark Damelin in 2007. The company provides investment fund administration services to primarily Canadian alternative investment fund managers.

Mackenzie and Joe joined CommonWealth in late 2011 and over the past three and a half years have taken on increased responsibilities encompassing operations, human resources, business development, and strategic planning. Since joining the firm, CommonWealth’s assets under administration increased by over $1 billion in each of 2013 and 2014, and the company was named Best Canadian Hedge Fund Administrator at the 2014 Canadian Hedge Fund Awards.

“Joe and I share a vision to continue the traditions that our reputation is built on, enhance our offering through new technology, and grow the company into a leading provider of alternative investment fund administration in Canada and abroad,” said Managing Director Mackenzie Crawford. “Our complementary skill sets will allow us to work in partnership to manage the operations, develop our staff, and meet the needs of our clients.”

Together with Mr. Clark, Chairman of the Board of Caledon Trust Company, CommonWealth’s parent, Mr. Damelin will remain involved with the company as a director on the boards of Caledon Trust Company and CommonWealth Fund Services. He will also take on a new role with Toogood Financial Systems Inc., a provider of technology solutions to CommonWealth. Toogood and CommonWealth will continue to work together on additional technology solutions to support the expansion of CommonWealth’s service offering and client base. 

“I am confident that Mackenzie and Joe will carry on the business of CommonWealth in the tradition of excellence for which it has become known in the Canadian fund management industry, said Mr. Damelin. “Lee Wong, founder and CEO of Toogood, and I look forward to working closely with CommonWealth on innovative solutions to support CommonWealth’s growth, profitability and reputation for service excellence.”


About CommonWealth Fund Services Ltd.

Founded in 2007, CommonWealth Fund Services Ltd. is a Canadian fund administrator servicing 100 domestic and offshore investment funds totalling more than $7.5 billion in assets. CommonWealth calculates fund net asset values on a daily, weekly, monthly, or quarterly basis, acts as transfer agent, and supports its clients with financial statement and tax return preparation. The firm has its Section 3416 qualification. CommonWealth’s parent company, Caledon Trust Company, is federally chartered and regulated by the Office of the Superintendent of Financial Institutions. Caledon acts as trustee for many funds which CommonWealth administers. Further information on CommonWealth is available on the company’s web site at www.commonwealthfundservices.com.