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CI Financial’s Stephen A. MacPhail speaks during the annual general meeting of shareholders in Toronto.

MIKE CASSESE/REUTERS

CI Financial says its president and chief executive, Stephen MacPhail, will retire at the end of June after 22-year career at the wealth management company.

His replacement is Peter Anderson, interim CEO of Aston Hill Financial Inc.

Anderson was formerly an executive vice-president and member of the CI Financial board after also having held the positions of chief investment officer and CEO of the company's subsidiary, CI Investments Inc.

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The CI board also announced that Sheila Murray, executive vice-president and general counsel, has been appointed company president.

CI Financial Corp. is an independent, Canadian-owned wealth management company with approximately $141.4-billion in assets.

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