Merrill Chief Economist Joins the Buy-Side

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Toronto – Last week, we noted the departure of Merrill Lynch Chief Economist David Rosenberg from the new BofA/Merrill Lynch. An update: Mr. Rosenberg will be joining Gluskin Sheff + Associates Inc., a Canadian wealth management firm serving high net worth private clients and institutional investors., as Chief Economist and Strategist. Rosenberg was one of the first economists to warn of a U.S. housing market collapse and the ensuing consumer and financial market meltdown. He will commence his work with Gluskin Sheff in May, 2009.
  
“We are thrilled to add someone of David’s calibre, strategic ability and global understanding to our team,” stated Jeremy Freedman, Deputy CEO of Gluskin Sheff. “We see this as a terrific marriage of our long-term track record of successfully identifying undervalued individual securities with David’s proven ability to analyze and foresee global trends and opportunities. The insight that he will provide to our investment and asset mix teams will bring strong added value to our clients.”

Rosenberg has ranked first in economics in the Brendan Wood International Survey for Canada for the past seven years and was on the Institutional Investors All American All Star Team for the last four years. He ranked second overall in the 2008 Survey. Prior to joining Merrill Lynch, Rosenberg held senior positions at the Bank of Canada, BMO Nesbitt Burns and the Bank of Nova Scotia.

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