Posthumous honour for Raymond Chang

By Admin Wednesday December 03 2014 in News
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Raymond Chang continues to be celebrated in death as he was in life.


The entrepreneur and philanthropist, who passed away last July, was posthumously recognized with the Morningstar Canada Career Achievement Award that recognizes outstanding lifetime contribution to the investment community.


The presentation took place last week.


Joining CI Financial in 1984 as vice-president and chief operating officer, Chang was promoted to president and chief operating officer a decade later when the company had its initial public offering and became a publicly traded entity. He became chief executive officer in 1996.


Chang, who provided hundreds of immigrants with job opportunities at CI, served as chairman of the board of directors from 1999 to 2010 and was a director at the time of his death.


During his tenure as the president and chief executive officer, CI Financial’s assets grew from $5 million to one of Canada’s three largest investment fund companies with assets of almost $130 billion.


“Ray helped to lay the foundation for CI’s success and inspired an entrepreneurial culture that continues today,” said CI Financial chairman, William Holland. “He guided CI through its early years as a public company as CEO and continued to provide valued advice as chairman and director. In addition to being an accomplished businessman, Ray was a kind and thoughtful person who generously gave his time and money to numerous causes. This award is a fitting tribute to Ray as he was motivated solely by a desire to help others and not by any need for personal recognition.”


Brigette Chang-Addorisio accepted the award on behalf of her late father.


“This is a great honour and bitter sweet moment,” she said. “We are proud that dad’s achievements in the investment industry are being recognized, but words cannot express how deeply we wish he could here to accept it personally. His success in the investment community is measured by more than dollars and cents. There was much more he brought to the table. He was a trusted advisor, mentor, calming force and always willing to provide others with the opportunity to shine.”


A former Ryerson University chancellor and Order of Canada appointee, Chang sponsored the development of a collaborative initiative between the School of Nursing at the UWI Mona campus and the Ray Chang School of Continuing Education that resulted in more than 350 individuals getting nursing degrees and becoming nurses across more than 16 Caribbean countries, donated $7 million to the Centre for Addiction & Mental Health, provided significant sums in 2006 to the Jamaica Bauxite Institute to start a seeding nursery to produce seedlings for distribution to farmers planting on reclaimed bauxite lands and contributed millions to Ryerson University to support continuing education, the University Health Network’s Dr. Herbert Ho Ping Kong Centre for Excellence in Education & Practice of General Internal Medicine and the Royal Ontario Museum.


When the UWI needed help from the Diaspora community to raise funds to provide scholarships for students, Chang stood up and assumed the role of patron of the UWI Toronto Benefit Gala, which has raised close to $1 million over the last five years.



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