On Monday morning, Toronto-based KingSett Capital announced that President and Chief Investment Officer Rob Kumer will take over the role of Chief Executive Officer from Jon Love come January 1, 2024.
Jon Love, who founded KingSett Capital in 2002 and is the majority owner of the company, will maintain oversight and responsibility for KingSett as Executive Chair, while Kumer will be responsible for executive management and working with Love to establish the company's strategy and bring results for the firm's funds.
Kumer joined KingSett Capital in 2004 as an analyst, before then being named Chair of the Investment Committee in 2018, Chair of the Management Committee in 2020, and Chief Investment Officer and President in 2021. KingSett Capital says Kumer will continue to serve as the Chair of both the Investment Committee and Management Committee.
"I am grateful for the opportunity to serve as KingSett's CEO and help lead the firm into the next phase of its growth and investor performance," said Kumer. "I will be focused on maintaining KingSett's strong culture and values, which have been fundamental to our success. I want to thank Jon for the trust he has shown in me, and I want to thank our investors and board members, and our valued partners for the confidence they continue to show in KingSett."
"This transition formalizes the expanded leadership role Rob has played so well over the last several years and marks the culmination of a well-planned, multi-year leadership succession at the firm," said Love. On LinkedIn, Love called it his "graduation day" and said he was "delighted" to elevate Kumer.
"I have worked with Rob for some 20 years and know he has the skills and values to lead KingSett’s next generation," he said.
Kumer thanked Love again in a response and added that he looks forward to continuing to work with Love.
The role of Chief Investment Officer will be taken over by Colin Baryliuk, who joined KingSett Capital in 2008 and is currently the Group Head of Property Investments.
Additionally, Scott Coates, who joined KingSett Capital in 2006 and is currently the Group Head of Mortgage Investments, is being elevated to President, KingSett Mortgage Corp.
Both changes will also be effective as of January 1, 2024.
