After 10 years leading the Autorité des marchés financiers (AMF), Louis Morisset will leave the agency when his current term expires.

The AMF announced that Morisset, its president and CEO who also served as chair of the Canadian Securities Administrators, will not seek a third term as head of the regulator.

Morisset joined the AMF in 2006 and was appointed president and CEO in 2013. He was re-appointed in 2018, and will step down when that second term ends on July 1.

The agency said that Morisset will complete his current appointment “before giving some thought to his professional future.”

“I believe that we have made enormous strides since 2013 and our great organization now occupies a very important place within the Quebec financial ecosystem,” Morisset said in a release.

“I have given the best of myself throughout my years at the helm of the AMF and am very satisfied and proud of what we have accomplished together. After much thought, it is time for me to consider letting someone else lead the AMF to new heights,” he added.

The next president and CEO will be appointed by the government, based on a recommendation from the regulator’s board of directors.

Robert Panet-Raymond, chair of the AMF’s board of directors, thanked Morisset for his vision and determination.

“He will have a lasting impact on the AMF and, because of his leadership, will be leaving behind a regulator providing even greater added value for consumers and the industry and with unprecedented local, national and international reach,” Panet-Raymond said in a release.