The Canadian Investment Funds Standards Committee (CIFSC) has introduced David O’Leary, manager of fund analysis at Morningstar Canada, as its chairman effective April 1. His term will run to the end of November 2010.

O’Leary succeeds Philip Lee whose term as chairman ended March 31.

The CIFSC is a volunteer organization, made up of competing organizations that collaborate to create and maintain a single standardized investment fund classification system for use across Canada.

“I’d like to commend Philip Lee on a job well done,” says O’Leary. “Under his leadership we have developed an efficient process for handling the committee’s monthly responsibilities.”

“We have a long list of outstanding issues that require our attention,” O’Leary adds. “The industry changes quickly, and the CIFSC must stay on top of these developments.”

The CIFSC’s current membership includes representatives from the Canadian Life and Health Insurance Association (CLHIA), Cannex Financial Exchanges, FP Datagroup, Fundata Canada, The Globe and Mail, the Investment Funds Institute of Canada (IFIC), Lipper and individual consultants.