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Jim Virtue has been appointed president and chief operating officer of Toronto-based PPI Management Inc., the life insurance distribution firm announced Tuesday.

Virtue previously held the positions of executive vice president of PPI, and president and CEO of PPI Solutions Inc.

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“Jim’s promotion is part of our long-term strategy of building continuity of leadership for the future,” James Burton, executive chairman and CEO of PPI, says in a statement.

Virtue joined the firm in 2010 when PPI acquired the Financial Management Group of Companies. A chartered accountant, he holds his certified financial planner and chartered life underwriter designations. Virtue is a member of the Conference for Advanced Life Underwriters and a past chairman of the board of the Financial Advisors Association of Canada (a.k.a. Advocis).