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Montreal-based Jarislowsky Fraser Ltd. has moved to two of its senior executives to new roles, the investment management company announced Monday.

Jarislowsky Fraser has appointed Maxime Ménard as president and CEO. He has been with the firm since 2003 and has over 20 years of experience in the investment industry. Ménard previously held the position of executive vice president, providing strong leadership in building the business, setting the strategic framework and developing partnerships for the business.

Pierre Lapointe will take over the role of vice chairman of the board of directors; he continues in his role as head of private wealth management at the company.

Lapointe has spent most of his career at Jarislowsky Fraser, after joining the firm in 1985. He has held various senior positions, including more than 15 years as executive vice president and the last six years as president and chairman of the executive committee.

“In his role as vice chairman, he will continue to play a leadership role in guiding the firm’s strategic growth,” the company says in a news release.

“I have worked with Maxime for the last 15 years and have every confidence in his vision and leadership,” says Lapointe, in a statement. “Both he and I, along with the other senior leaders at Jarislowsky Fraser, are all former partners with long tenures at the firm, and we share a deep belief in our founder Stephen Jarislowsky’s long-standing core principles of high quality, lower risk investing. We remain committed to growing Jarislowsky Fraser as an autonomous, research-focused and client-centric investment management firm.”

“I am honoured to take on this new role and continue to build on Jarislowsky Fraser’s iconic brand and reputation as a trusted investment manager to institutional and high net worth clients. With the support of Pierre and our strong management team, I am excited to lead the next chapter in the firm’s history as we further deepen our relationships in Canada and expand our product offering internationally,” says Ménard, in a statement.

The appointments took effect on Nov. 23.

Toronto-based Bank of Nova Scotia completed its acquisition of Jarislowsky Fraser in May.