CI Financial's president and CEO Stephen MacPhail is retiring in June. The company's board has appointed Peter Anderson to be his replacement.
MacPhail has been with CI for 22 years, during which time he has served as the company's chief financial officer, chief operating officer, and finally chief executive officer in 2010. In a statement released on Feb. 11, MacPhail expressed his satisfaction with what the company has accomplished. "We have just achieved another year of record profits and CI continues to be recognized as a leader in the Canadian wealth management business," he said. "I have always said that when there was a succession plan in place and I was nearing 60, I would pass the baton. I am delighted that my good friend Peter Anderson has agreed to return to CI and lead this incredibly talented management team."
Anderson used to be the chief investment officer and chief executive officer of CI’s subsidiary, CI Investments, but he left the company in 2012. Most recently, he was the interim chief executive officer at Aston Hill Financial. Anderson has a business degree from the University of New Brunswick.