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CI Financial CEO and director Peter Anderson will retire from the firm on Sept. 1 when successor Kurt MacAlpine takes over.

Earlier this month, CI named MacAlpine, formerly executive vice-president and head of global distribution for WisdomTree Asset Management in New York, as the next CEO.

Anderson became CI’s chief executive in 2016, returning to the firm where he had previously held senior roles. Earlier this year he told the board that he would retire no later than June 30, 2020, when his contract was set to expire.

When MacAlpine was appointed, CI said Anderson would stay on in the short term to assist with the transition.

“It has been a pleasure working with Kurt over the last month as he prepares for this new role,” Anderson said in a statement. “I am confident that Kurt has the experience, skills and leadership to successfully lead and transform CI. As a significant shareholder in CI, I have great faith in the capabilities he brings to the firm.”