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Robert Vanderhooft, chief investment officer of TD Asset Management Inc., is stepping down next year. He will be replaced by David Sykes, currently TDAM’s managing director and head of public equities, on April 1, 2022.

Vanderhooft, whose decision was announced Monday, is a 34-year veteran of the financial industry who was previously CEO and CIO of Greystone Managed Investments Inc., which was acquired by TDAM in 2018.

Vanderhooft will stay on in an advisory role until Oct. 31, 2022.

“Rob helped build a leading institutional asset management firm with a unique and in-demand skill set, a strong culture and a client focus that well complemented our own,” said Bruce Cooper, CEO of TDAM and senior vice-president with TD Bank Group, in an email to staff.

Sykes has been with TDAM since 1999 and has been head of public equities since 2014. He will be replaced in April by Justin Flowerday, managing director and head of research, fundamental equities.