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Long-time investment industry executive Joe Canavan is taking over as head of NEXT Canada, a non-profit that nurtures entrepreneurs.

NEXT Canada announced on Friday that Canavan has been appointed as its new CEO, taking over from Sheldon Levy, who was named special advisor to the Minister of Small Business and Export Promotion last month.

Canavan has built and sold several asset-management firms over the years, including GT Global (Canada), Synergy Asset Management and LOGiQ Asset Management. He’s also had stints as chairman and CEO of Assante Wealth Management (Canada) Ltd. and United Financial Corp. and as director of national sales at Fidelity Investment Canada ULC.

Canavan has been a mentor and board member at NEXT Canada since it was launched in 2010 as an initiative that aims to foster lifelong entrepreneurship.

“We are incredibly excited to have Joe take up the mantle at such an important moment for NEXT Canada. He has been involved since inception and his familiarity with the NEXT Canada network and mission will ensure a smooth transition,” said Reza Satchu and John Kelleher, co-chairs of NEXT Canada, in a statement.