Toronto-based Tangerine Bank announced on Wednesday that Brenda Rideout will succeed Peter Aceto as president and CEO, effective March 1.

Aceto has served as head of Tangerine since 2008 and has been with the organization for over 20 years. He led the digital bank, then known as ING Direct Canada, through its acquisition by the Bank of Nova Scotia from Netherlands-based ING Group in 2012.

“It has been an honour to be part of Tangerine and I am proud of what we have accomplished for our clients,” says Aceto in a statement.

Rideout has been with the firm since 1999, and has led many high-profile initiatives including the launch of a number of direct banks internationally under ING Group, the brand transition to Tangerine in 2014, and has been instrumental in growing the bank’s Canadian presence.

Rideout’s most-recent role was Tangerine’s chief strategy officer, a position she’s held since July 2014. Previously, Rideout served as chief marketing officer, chief information officer and chief technology and operations officer with the firm.

“I’m excited to lead Tangerine,” adds Rideout in a statement. “Our purpose is to help Canadians live better lives by helping them make smart decisions with their money and we will continue to appeal to value-conscious Canadians while driving the bank’s performance and remaining a client experience leader.”

Tangerine has over 2 million clients and around $38 billion in total assets.

Photo of Peter Aceto and Brenda Rideout provided by Tangerine.