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Securities lawyer Laura Paglia will become head of the Investment Industry Association of Canada (IIAC) in August when Ian Russell steps down.

Paglia is a partner with Borden Ladner Gervais LLP in Toronto, where she’s a leader of the firm’s securities litigation and regulatory group.

“At a time of dramatic transformation in the financial sector and capital markets, and sweeping changes in the regulatory framework, the investment industry is fortunate to draw on Laura’s leadership as the voice of the investment industry,” said Richard Rousseau, chair of IIAC’s board of directors, in a release.

Paglia will take over from Russell as IIAC’s president and CEO. Russell has led the industry lobby group for the last 15 years.

“I want to extend our deep appreciation for Ian’s vision, hard work, and dedication to large and small investment dealers in the industry throughout his long tenure,” Rousseau said.