Horizons ETFs Mourns Loss of Robert Reid

TORONTO, Feb. 15, 2012 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is deeply saddened by the news that Robert Reid, one of the company's founding shareholders and original board directors, has passed away.

Mr. Reid was the President of DGM Bank and Trust Inc. of Barbados, and, through that role, was one of the founding shareholders in Horizons ETFs, under its prior name BetaPro Management Inc.  Prior to his role with DGM Bank, Mr. Reid was well known on Bay Street as a former director and Vice-President at Wood Gundy.

Mr. Reid sat on the board of directors of Horizons ETFs until 2008. In this role, he helped guide the growth of Horizons ETFs from its early start-up days to becoming one of Canada's largest ETF providers.

"As one of only a small handful of individuals who saw the potential in building a Canadian-based ETF company from the ground up, Rob was instrumental in helping us build the Horizons ETF business into what it is today," said Adam Felesky, CEO of Horizons ETFs. "His friendship and guidance will be deeply missed by the employees of Horizons ETFs and its current and past board members.  Our thoughts and prayers go out to his family."

The family of Mr. Reid has informed friends that a Service of Remembrance will be held at the Turner & Porter Yorke Chapel in Toronto, Ontario on Friday, February 17, 2012 at 11 a.m. For those who wish, memorial donations can be made to The Boys' & Girls' Club of London, 184 Horton St. E., London, ON N6B 1K8 in absence of floral arrangements. Online condolences may be made through www.turnerporter.ca