Professor David Beatty is chairman of Inmet Mining Corporation and a director of the Bank of Montreal. He is also currently chairman of the City Financial Asian Absolute Growth Fund.

Michael Stein, meanwhile, is known for having founded the MPI Group, an investment and property development firm, as well as CAP REIT, Canada's first residential apartment real estate investment trust, where he continues to be chairman.

Andrew Williams, City Financial’s chief executive, said in a statement that he wants the company to combine organic growth with acquisitions in the year ahead.