TSX Symbol: CIX
TORONTO, Sept. 17 /CNW/ - CI Financial Corp. ("CI") today announced the appointment of Steven J. Donald as President and Chief Executive Officer of Assante Wealth Management (Canada) Ltd.
The appointment will be effective November 11, 2009, upon the retirement of Chief Executive Officer Joseph C. Canavan, who has led Assante for the past six years.
Mr. Donald is currently President and Chief Operating of Officer of Assante, a position he has held since May 2005. Prior to that, he was Senior Vice-President and Chief Financial Officer. He joined Assante in 2003 from Synergy Asset Management Inc., where he was Vice-President and Chief Financial Officer.
"As CEO, Steve will continue to provide strong leadership to Assante employees and the advisor network," said Stephen A. MacPhail, President of CI. "We thank Joe for six years of exemplary service and his dedication to building Assante into the pre-eminent wealth planning firm in Canada."
Mr. Canavan has been Chief Executive Officer of Assante since November 2003, when it was acquired by CI Financial. His leadership of Assante caps an impressive 25-year career in the wealth management industry. He founded Synergy Asset Management in December 1997 and was President and Chief Executive Officer until its acquisition.
Assante Wealth Management is one of the largest Canadian professional services firms in wealth management, supporting 800 advisors who oversee $20 billion in assets for their clients nationwide. Assante advisors provide a comprehensive approach to planning that incorporates all aspects of their clients' financial lives - risk management, estate planning, tax planning, as well as investment management.
Assante is a wholly owned subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management company with approximately $91 billion in fee-earning assets as of August 31, 2009. CI offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.ci.com/cix.
SOURCE CI Investments Inc.
For further information: For further information: William T. Holland, Chief Executive Officer, CI Financial Corp., (416) 364-1145