CI Financial Corp. Thursday announced the appointment of Steve Donald as president and CEO of Assante Wealth Management (Canada) Ltd.

Donald’s appointment will be effective November 11, upon the retirement of CEO Joe Canavan, who has led Assante for the past six years.

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 CFO. He joined Assante in 2003 from Synergy Asset Management Inc., where he was vice president and CFO.

“As CEO, Steve will continue to provide strong leadership to Assante employees and the advisor network,” says Stephen 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.”

Canavan has been CEO 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 CEO until its acquisition.

Assante is a wholly owned subsidiary of CI Financial Corp. Assante’s 800 advisors oversee $20 billion in assets for their clients nationwide.

IE