CI Financial Corp. president and CEO Peter Anderson will retire as chief executive and director of the corporation, effective September 1, 2019. The company provided an update on the announcement this morning, saying Anderson has been working closely with his successor, Kurt MacAlpine, to ensure an orderly transition.

“It has been a pleasure working with Kurt over the last month as he prepares for this new role,” Anderson said in a statement Tuesday. “I am confident that Kurt has the experience, skills and leadership to successfully lead and transform CI. As a significant shareholder in CI, I have great faith in the capabilities he brings to the firm.”

MacAlpine previously served as executive vice president and head of global distribution for WisdomTree Asset Management and as leader of the North American asset management practice at McKinsey & Company. CI first announced his appointment in early August.