two businesspeople shaking hands in silhouette

Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp.

MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York.

At WisdomTree, MacAlpine was responsible for all client-facing functions and oversaw most of its international businesses. Before that, he was a partner at consulting firm McKinsey & Co., focusing on the asset and wealth management industries.

“Kurt has worked with some of the largest asset managers in the world and has a thorough understanding of the industry, best practices and new developments,” David Miller, director and chairman of CI’s governance, human resources and compensation committee, said in a statement. “In particular, Kurt is familiar with using digital strategies to enhance efficiencies and build new services and businesses, a key plank in CI’s strategic plans.”

“The board is confident that his deep industry knowledge, proven leadership and experience in developing and executing growth-oriented strategic initiatives will ensure that CI remains a leader in a rapidly changing business environment,” he added.

MacAlpine, who hails from Saint John, NB, has a commerce degree from Halifax’s Saint Mary’s University and an MBA from Queen’s University.

“As a large and independent firm with global reach, CI is well positioned to take advantage of the many opportunities in asset and wealth management. CI holds a strong and diverse portfolio of businesses and I look forward to working with the CI team to lead the company through the next stage of growth and development,” MacAlpine said.

Earlier this year, Anderson said he planned to retire by mid-2020. CI noted that Anderson will remain with the firm “in the short term to assist with the transition of responsibilities.”