About Us

We believe in personal service—not automated advice.

As a boutique firm with a select roster of direct clients, we place a premium on caring, responsive service. Unlike automated robo-advisors and corporate mega-firms that treat clients as just another number in an indifferent system, we believe in the personal touch. Rather than choosing your investments solely based on an inflexible, narrow algorithm, we add the wisdom that we believe comes from decades of real-world, human experience. Our intelligent approach marries rigorous data analysis and economic modeling with the deep insight and understanding of our seasoned management team. Your portfolio manager is always available to discuss your needs and can be contacted at anytime.

Whatever your investment goals, we can develop and implement solutions to help get you there.

Treegrove offers a diverse range of investment choices to help you pursue your goals. We create   customized portfolios that are tailored to your risk tolerance, diversification requirements demands, and other unique investment needs. Whether your focus is on seeking downside protection, income, growth, or something in between, we seek to provide the solutions you’re looking for today!

MEET OUR TEAM

The Team at Treegrove has over 200 years of combined experience

  • William (Bill) Shaw, MBA, CPA, CIM, CFP
    William (Bill) Shaw, MBA, CPA, CIM, CFP
    Chief Executive Officer & Portfolio Manager
  • Michael Sprung, CFA
    Michael Sprung, CFA
    President & Portfolio Manager
  • Alex Nayyar, CIM
    Alex Nayyar, CIM
    Chief Compliance Officer & Portfolio Manager
  • Frederic (Fred) Palik, CFA
    Frederic (Fred) Palik, CFA
    Vice-President, Fixed Income & Portfolio Manager
  • Jennifer Schell, CIM, MBA
    Jennifer Schell, CIM, MBA
    Partner and Portfolio Manager
  • Penny Stayropoulos, CFA, CIM, TEP, CFP, FMA
    Penny Stayropoulos, CFA, CIM, TEP, CFP, FMA
    Partner & Portfolio Manager
  • Kathy Chow, MBA, CIM
    Kathy Chow, MBA, CIM
    Partner and Associate Portfolio Manager
  • Joie P. Watts, CFA, FCSI
    Joie P. Watts, CFA, FCSI
    Vice President & Portfolio Manager
  • Robert D. Champion, MSEd
    Robert D. Champion, MSEd
    Partner, Client Services

CONTACT US

    © 2026 Treegrove All Rights Reserved
    William (Bill) Shaw, MBA, CPA, CIM, CFP
    Chief Executive Officer & Portfolio Manager

    William (Bill) Shaw is Chief Executive Officer and Portfolio Manager of Treegrove Investment Management Inc. and a co-founder of the firm. He brings more than four decades of experience in investment management, portfolio construction, financial analysis and financial planning.

    Bill’s investment approach is grounded in fundamental analysis and a disciplined, long-term perspective. His accounting and finance background provides a strong foundation for evaluating businesses, interpreting financial statements and identifying investment opportunities with an emphasis on value, quality and risk management.

    Before co-founding Treegrove, Bill held senior roles in the Canadian investment industry, including portfolio-management experience at Mavrix Fund Management. His career has included managing investment portfolios and advising private clients through a wide range of market and economic environments.

    Bill holds an MBA and the CPA, CA, Chartered Investment Manager (CIM) and Certified Financial Planner (CFP) designations. He also holds the ICD.D designation from the Institute of Corporate Directors and Rotman School of Management at the University of Toronto.

    At Treegrove, Bill combines investment-management, financial-analysis and planning experience to help clients build portfolios aligned with their objectives while maintaining the firm’s focus on disciplined investing, independent thinking and personalized service.

    Michael Sprung, CFA
    President & Portfolio Manager

    Michael Sprung is President and Portfolio Manager of Treegrove Investment Management Inc. and the founder of Sprung Investment Management Inc. He brings more than four decades of experience in the Canadian investment industry, with extensive expertise managing equity and balanced portfolios for private clients, foundations, endowments and institutional investors.

    Michael founded Sprung Investment Management in 2005 with a focus on independent, personalized investment management. Following Treegrove’s acquisition of Sprung Investment Management in April 2026, Michael became President of Treegrove and continues to play a key role in investment strategy and portfolio management.

    Over his career, Michael has managed portfolios with assets of several billion dollars and held senior investment positions with YMG Capital Management, Goodman & Company, the Ontario Teachers’ Pension Plan, Ontario Hydro and Cassels Blaikie & Co. Ltd.

    Michael holds the Chartered Financial Analyst (CFA) designation and an MBA from the Ivey Business School at Western University. He has served as a Director of CFA Society Toronto and as a member of the CFA Institute’s Professional Conduct Committee, and has appeared as a commentator on BNN and in the Canadian financial press.

    Michael also has a longstanding commitment to community service. At Treegrove, his experience across numerous market cycles contributes to the firm’s disciplined, long-term approach to portfolio management and risk.

    Alex Nayyar, CIM
    Chief Compliance Officer & Portfolio Manager

    Alex Nayyar is Chief Compliance Officer and Portfolio Manager of Treegrove Investment Management Inc. and a co-founder of the firm. He brings more than two decades of experience in the Canadian investment industry, with expertise in portfolio management, client relationships, business development and investment-firm operations.

    As Chief Compliance Officer, Alex oversees Treegrove’s compliance program and supports the firm’s adherence to applicable securities laws, regulatory requirements, internal policies and standards of conduct. He works with management and investment professionals to promote a strong culture of compliance throughout the organization.

    As a Portfolio Manager, Alex works closely with clients and Treegrove’s investment team to develop and manage portfolios tailored to individual investment objectives, risk profiles and long-term financial goals. His approach emphasizes disciplined investing, transparency, strong relationships and responsive client service.

    Prior to co-founding Treegrove, Alex held senior roles in the Canadian investment-management industry, including with Mavrix, and developed extensive relationships with financial advisors and investment professionals across Canada.

    Alex holds the Chartered Investment Manager (CIM) designation and studied at the University of Toronto, where he was a member of the Varsity Blues football program and the 1993 Vanier Cup championship team. He has also completed the Partners, Directors and Senior Officers Course through the Canadian Securities Institute.

    Frederic (Fred) Palik, CFA
    Vice-President, Fixed Income & Portfolio Manager

    Fred Palik is Vice-President, Fixed Income and Portfolio Manager with Treegrove Investment Management Inc. He brings more than four decades of investment-management experience and has primary responsibility for fixed income and cash management, while contributing to investment policy, asset allocation and portfolio strategy.

    Fred began his investment career at Merrill Lynch Canada as a Credit Analyst and later a Fixed Income Research Analyst. He also served on the firm’s Capital Markets Credit Committee, developing a strong foundation in credit analysis and fixed-income markets.

    He later joined Commercial Union Assurance Company, a predecessor of Aviva Canada, as a Portfolio Manager, where he was involved in managing fixed-income and international equity portfolios. Fred subsequently served as Vice-President, Fixed Income at Ontario Hospital Association Investment Management Ltd., managing mutual funds and institutional accounts and serving on its Strategic Policy Committee.

    Fred joined Treegrove following its acquisition of Sprung Investment Management in April 2026. He holds the Chartered Financial Analyst (CFA) designation and is a member of CFA Society Toronto and the CFA Institute.

    His extensive fixed-income experience strengthens Treegrove’s capabilities in portfolio construction, income generation, capital preservation and risk management. Fred also brings significant experience with information technology and investment-management applications.

    Jennifer Schell, CIM, MBA
    Partner and Portfolio Manager

    Jennifer Schell is a Partner, Portfolio Manager and Portfolio Strategist with Treegrove Investment Management Inc. She brings extensive experience in wealth management, portfolio strategy and financial planning, combining investment analysis with an interest in behavioural finance and innovation in financial services.

    Throughout her career, Jennifer has worked with clients to develop customized wealth-management strategies designed around their individual circumstances, financial priorities and long-term objectives. Her approach incorporates market and macroeconomic analysis while emphasizing disciplined portfolio construction and an understanding of the behavioural factors that can influence financial decision-making.

    Prior to joining Treegrove, Jennifer gained experience with major Canadian financial institutions, including CIBC Wood Gundy. She joined Treegrove in 2019 and has since contributed to the firm’s portfolio strategy, client advisory and investment-management activities.

    Jennifer holds a Bachelor of Commerce degree in Finance and a Master of Business Administration (MBA) from Laurentian University and holds the Chartered Investment Manager (CIM) designation.

    At Treegrove, Jennifer combines investment-management experience, portfolio strategy and a strong client focus to help individuals and families develop and maintain investment strategies designed to meet their long-term financial objectives.

    Penny Stayropoulos, CFA, CIM, TEP, CFP, FMA
    Partner & Portfolio Manager

    Penny Stayropoulos is a Partner and Portfolio Manager with Treegrove Investment Management Inc. She brings more than two decades of experience in investment management, banking, lending, financial planning and wealth management.

    Penny’s approach integrates investment management with broader wealth-planning considerations. She works with individuals, families and business owners to align investment portfolios with long-term objectives that may include retirement, tax, succession and estate-planning considerations.

    Her broad financial-services background provides a practical perspective on the interconnected decisions clients face as their wealth, businesses and family circumstances evolve. At Treegrove, she applies that perspective to portfolio construction and ongoing client advice, with an emphasis on clear communication and long-term relationships.

    Penny holds the Chartered Financial Analyst (CFA), Chartered Investment Manager (CIM), Trust and Estate Practitioner (TEP), Certified Financial Planner (CFP) and Financial Management Advisor (FMA) designations. She is a member of CFA Society Toronto and STEP Canada.

    Penny is also active in professional and community organizations. Her combination of portfolio-management expertise and planning experience helps Treegrove clients make informed financial decisions within a disciplined, personalized investment framework.

    Total Wealth

    Kathy Chow, MBA, CIM
    Partner and Associate Portfolio Manager

    Kathy Chow is a Partner, Portfolio Strategist and Associate Portfolio Manager with Treegrove Investment Management Inc. Based in Ottawa, she works closely with clients to develop personalized investment and wealth-management strategies aligned with their financial objectives, priorities and values.

    Kathy brings extensive financial-services experience to her role and takes a practical, client-focused approach to wealth management. Her work emphasizes helping clients understand their financial choices and developing clear, disciplined strategies around their individual circumstances and long-term goals.

    As part of Treegrove’s investment team, Kathy contributes to portfolio strategy and client advice while maintaining a strong focus on individual needs, clear communication and long-term relationships. Her approach reflects Treegrove’s emphasis on personalized portfolio management and thoughtful decision-making.

    Kathy holds a Master of Business Administration (MBA) in Financial Services from Université du Québec à Montréal and the Chartered Investment Manager (CIM) designation.

    Fluent in English with professional working proficiency in French, Kathy is well positioned to serve clients in both languages. She combines investment knowledge, strategic planning and attentive client service to help clients remain focused on their long-term financial objectives.

    Joie P. Watts, CFA, FCSI
    Vice President & Portfolio Manager

    Joie Watts is Vice President and Portfolio Manager with Treegrove Investment Management Inc. He brings more than four decades of experience in the Canadian securities and investment industry, spanning portfolio management, institutional equity trading, electronic markets and senior executive leadership.

    Joie’s career includes senior positions with leading Canadian investment firms. He served as Senior Vice President, Director and Co-Head of Institutional Equity Trading at Merrill Lynch Canada and held senior institutional equity and options trading responsibilities at Nesbitt Thomson and Burns Fry Limited.

    He subsequently spent more than ten years as Managing Director of Instinet Canada Limited, where he led the development of the firm’s Canadian operations, and later served as Chief Executive Officer of Shorcan ATS Limited, a specialized Canadian marketplace for institutional equity dealers. Earlier in his career, Joie also gained private-client experience with Merrill Lynch Royal Securities.

    Following Treegrove’s acquisition of Sprung Investment Management in April 2026, Joie continued his portfolio-management and client-relationship responsibilities as part of the Treegrove team.

    Joie holds the Chartered Financial Analyst (CFA) designation and is a Fellow of the Canadian Securities Institute (FCSI). He is a member of CFA Society Toronto and the CFA Institute, and contributes his broad capital-markets perspective to Treegrove’s investment process.

    Robert D. Champion, MSEd
    Partner, Client Services

    Robert Champion is Partner, Client Services with Treegrove Investment Management Inc. He is focused on delivering a high standard of personal service and building strong, long-term relationships with clients.

    Robert joined Sprung Investment Management in 2012 after several years with Successful Investor Wealth Management. His background combines financial-services experience with more than fifteen years in consultative sales, providing him with a strong understanding of client needs, relationship management and service.

    Earlier in his career, Robert worked in OEM industrial sales and with the investment-publishing division of MPL Communications, publisher of Investor’s Digest and Investment Reporter. His experience in investment communications and relationship-based businesses has helped shape his client-focused approach.

    Following Treegrove’s acquisition of Sprung Investment Management in April 2026, Robert continues his client-service responsibilities as part of the Treegrove team, supporting clients and the firm’s portfolio management professionals.

    Robert holds a Master of Science in Education from Niagara University and a bachelor’s degree in History. His combination of education, investment-industry experience and relationship management supports his commitment to responsive, personalized client service.

    William (Bill) Shaw, MBA, CPA, CIM, CFP
    Chief Executive Officer & Portfolio Manager

    William (Bill) Shaw is Chief Executive Officer and Portfolio Manager of Treegrove Investment Management Inc. and a co-founder of the firm. He brings more than four decades of experience in investment management, portfolio construction, financial analysis and financial planning.

    Bill’s investment approach is grounded in fundamental analysis and a disciplined, long-term perspective. His accounting and finance background provides a strong foundation for evaluating businesses, interpreting financial statements and identifying investment opportunities with an emphasis on value, quality and risk management.

    Before co-founding Treegrove, Bill held senior roles in the Canadian investment industry, including portfolio-management experience at Mavrix Fund Management. His career has included managing investment portfolios and advising private clients through a wide range of market and economic environments.

    Bill holds an MBA and the CPA, CA, Chartered Investment Manager (CIM) and Certified Financial Planner (CFP) designations. He also holds the ICD.D designation from the Institute of Corporate Directors and Rotman School of Management at the University of Toronto.

    At Treegrove, Bill combines investment-management, financial-analysis and planning experience to help clients build portfolios aligned with their objectives while maintaining the firm’s focus on disciplined investing, independent thinking and personalized service.

    Michael Sprung, CFA
    President & Portfolio Manager

    Michael Sprung is President and Portfolio Manager of Treegrove Investment Management Inc. and the founder of Sprung Investment Management Inc. He brings more than four decades of experience in the Canadian investment industry, with extensive expertise managing equity and balanced portfolios for private clients, foundations, endowments and institutional investors.

    Michael founded Sprung Investment Management in 2005 with a focus on independent, personalized investment management. Following Treegrove’s acquisition of Sprung Investment Management in April 2026, Michael became President of Treegrove and continues to play a key role in investment strategy and portfolio management.

    Over his career, Michael has managed portfolios with assets of several billion dollars and held senior investment positions with YMG Capital Management, Goodman & Company, the Ontario Teachers’ Pension Plan, Ontario Hydro and Cassels Blaikie & Co. Ltd.

    Michael holds the Chartered Financial Analyst (CFA) designation and an MBA from the Ivey Business School at Western University. He has served as a Director of CFA Society Toronto and as a member of the CFA Institute’s Professional Conduct Committee, and has appeared as a commentator on BNN and in the Canadian financial press.

    Michael also has a longstanding commitment to community service. At Treegrove, his experience across numerous market cycles contributes to the firm’s disciplined, long-term approach to portfolio management and risk.

    Alex Nayyar, CIM
    Chief Compliance Officer & Portfolio Manager

    Alex Nayyar is Chief Compliance Officer and Portfolio Manager of Treegrove Investment Management Inc. and a co-founder of the firm. He brings more than two decades of experience in the Canadian investment industry, with expertise in portfolio management, client relationships, business development and investment-firm operations.

    As Chief Compliance Officer, Alex oversees Treegrove’s compliance program and supports the firm’s adherence to applicable securities laws, regulatory requirements, internal policies and standards of conduct. He works with management and investment professionals to promote a strong culture of compliance throughout the organization.

    As a Portfolio Manager, Alex works closely with clients and Treegrove’s investment team to develop and manage portfolios tailored to individual investment objectives, risk profiles and long-term financial goals. His approach emphasizes disciplined investing, transparency, strong relationships and responsive client service.

    Prior to co-founding Treegrove, Alex held senior roles in the Canadian investment-management industry, including with Mavrix, and developed extensive relationships with financial advisors and investment professionals across Canada.

    Alex holds the Chartered Investment Manager (CIM) designation and studied at the University of Toronto, where he was a member of the Varsity Blues football program and the 1993 Vanier Cup championship team. He has also completed the Partners, Directors and Senior Officers Course through the Canadian Securities Institute.

    Frederic (Fred) Palik, CFA
    Vice-President, Fixed Income & Portfolio Manager

    Fred Palik is Vice-President, Fixed Income and Portfolio Manager with Treegrove Investment Management Inc. He brings more than four decades of investment-management experience and has primary responsibility for fixed income and cash management, while contributing to investment policy, asset allocation and portfolio strategy.

    Fred began his investment career at Merrill Lynch Canada as a Credit Analyst and later a Fixed Income Research Analyst. He also served on the firm’s Capital Markets Credit Committee, developing a strong foundation in credit analysis and fixed-income markets.

    He later joined Commercial Union Assurance Company, a predecessor of Aviva Canada, as a Portfolio Manager, where he was involved in managing fixed-income and international equity portfolios. Fred subsequently served as Vice-President, Fixed Income at Ontario Hospital Association Investment Management Ltd., managing mutual funds and institutional accounts and serving on its Strategic Policy Committee.

    Fred joined Treegrove following its acquisition of Sprung Investment Management in April 2026. He holds the Chartered Financial Analyst (CFA) designation and is a member of CFA Society Toronto and the CFA Institute.

    His extensive fixed-income experience strengthens Treegrove’s capabilities in portfolio construction, income generation, capital preservation and risk management. Fred also brings significant experience with information technology and investment-management applications.

    Jennifer Schell, CIM, MBA
    Partner and Portfolio Manager

    Jennifer Schell is a Partner, Portfolio Manager and Portfolio Strategist with Treegrove Investment Management Inc. She brings extensive experience in wealth management, portfolio strategy and financial planning, combining investment analysis with an interest in behavioural finance and innovation in financial services.

    Throughout her career, Jennifer has worked with clients to develop customized wealth-management strategies designed around their individual circumstances, financial priorities and long-term objectives. Her approach incorporates market and macroeconomic analysis while emphasizing disciplined portfolio construction and an understanding of the behavioural factors that can influence financial decision-making.

    Prior to joining Treegrove, Jennifer gained experience with major Canadian financial institutions, including CIBC Wood Gundy. She joined Treegrove in 2019 and has since contributed to the firm’s portfolio strategy, client advisory and investment-management activities.

    Jennifer holds a Bachelor of Commerce degree in Finance and a Master of Business Administration (MBA) from Laurentian University and holds the Chartered Investment Manager (CIM) designation.

    At Treegrove, Jennifer combines investment-management experience, portfolio strategy and a strong client focus to help individuals and families develop and maintain investment strategies designed to meet their long-term financial objectives.

    Penny Stayropoulos, CFA, CIM, TEP, CFP, FMA
    Partner & Portfolio Manager

    Penny Stayropoulos is a Partner and Portfolio Manager with Treegrove Investment Management Inc. She brings more than two decades of experience in investment management, banking, lending, financial planning and wealth management.

    Penny’s approach integrates investment management with broader wealth-planning considerations. She works with individuals, families and business owners to align investment portfolios with long-term objectives that may include retirement, tax, succession and estate-planning considerations.

    Her broad financial-services background provides a practical perspective on the interconnected decisions clients face as their wealth, businesses and family circumstances evolve. At Treegrove, she applies that perspective to portfolio construction and ongoing client advice, with an emphasis on clear communication and long-term relationships.

    Penny holds the Chartered Financial Analyst (CFA), Chartered Investment Manager (CIM), Trust and Estate Practitioner (TEP), Certified Financial Planner (CFP) and Financial Management Advisor (FMA) designations. She is a member of CFA Society Toronto and STEP Canada.

    Penny is also active in professional and community organizations. Her combination of portfolio-management expertise and planning experience helps Treegrove clients make informed financial decisions within a disciplined, personalized investment framework.

    Total Wealth

    Kathy Chow, MBA, CIM
    Partner and Associate Portfolio Manager

    Kathy Chow is a Partner, Portfolio Strategist and Associate Portfolio Manager with Treegrove Investment Management Inc. Based in Ottawa, she works closely with clients to develop personalized investment and wealth-management strategies aligned with their financial objectives, priorities and values.

    Kathy brings extensive financial-services experience to her role and takes a practical, client-focused approach to wealth management. Her work emphasizes helping clients understand their financial choices and developing clear, disciplined strategies around their individual circumstances and long-term goals.

    As part of Treegrove’s investment team, Kathy contributes to portfolio strategy and client advice while maintaining a strong focus on individual needs, clear communication and long-term relationships. Her approach reflects Treegrove’s emphasis on personalized portfolio management and thoughtful decision-making.

    Kathy holds a Master of Business Administration (MBA) in Financial Services from Université du Québec à Montréal and the Chartered Investment Manager (CIM) designation.

    Fluent in English with professional working proficiency in French, Kathy is well positioned to serve clients in both languages. She combines investment knowledge, strategic planning and attentive client service to help clients remain focused on their long-term financial objectives.

    Joie P. Watts, CFA, FCSI
    Vice President & Portfolio Manager

    Joie Watts is Vice President and Portfolio Manager with Treegrove Investment Management Inc. He brings more than four decades of experience in the Canadian securities and investment industry, spanning portfolio management, institutional equity trading, electronic markets and senior executive leadership.

    Joie’s career includes senior positions with leading Canadian investment firms. He served as Senior Vice President, Director and Co-Head of Institutional Equity Trading at Merrill Lynch Canada and held senior institutional equity and options trading responsibilities at Nesbitt Thomson and Burns Fry Limited.

    He subsequently spent more than ten years as Managing Director of Instinet Canada Limited, where he led the development of the firm’s Canadian operations, and later served as Chief Executive Officer of Shorcan ATS Limited, a specialized Canadian marketplace for institutional equity dealers. Earlier in his career, Joie also gained private-client experience with Merrill Lynch Royal Securities.

    Following Treegrove’s acquisition of Sprung Investment Management in April 2026, Joie continued his portfolio-management and client-relationship responsibilities as part of the Treegrove team.

    Joie holds the Chartered Financial Analyst (CFA) designation and is a Fellow of the Canadian Securities Institute (FCSI). He is a member of CFA Society Toronto and the CFA Institute, and contributes his broad capital-markets perspective to Treegrove’s investment process.

    Robert D. Champion, MSEd
    Partner, Client Services

    Robert Champion is Partner, Client Services with Treegrove Investment Management Inc. He is focused on delivering a high standard of personal service and building strong, long-term relationships with clients.

    Robert joined Sprung Investment Management in 2012 after several years with Successful Investor Wealth Management. His background combines financial-services experience with more than fifteen years in consultative sales, providing him with a strong understanding of client needs, relationship management and service.

    Earlier in his career, Robert worked in OEM industrial sales and with the investment-publishing division of MPL Communications, publisher of Investor’s Digest and Investment Reporter. His experience in investment communications and relationship-based businesses has helped shape his client-focused approach.

    Following Treegrove’s acquisition of Sprung Investment Management in April 2026, Robert continues his client-service responsibilities as part of the Treegrove team, supporting clients and the firm’s portfolio management professionals.

    Robert holds a Master of Science in Education from Niagara University and a bachelor’s degree in History. His combination of education, investment-industry experience and relationship management supports his commitment to responsive, personalized client service.