Industry veteran Joe Canavan will lead the combined firm
Management aims to position the firm for growth
The firm has also announced that Ben Cheng, chief investment officer, will assume lead portfolio manager responsibilities for the two remaining funds
The firm had entered the retail securities distribution channel in 2012 when it acquired Halifax-based Citadel Securities
James Werry succeeds interim CEO Peter Anderson
The changes will take effect in January
Derek Slemko has been appointed as COO and will replace Murdoch in the new year
The firm’s CIO, who had been lead portfolio manager for three IA Clarington funds, will manage the new Aston Hill High Income Fund
New names for four funds
Short-term losses were expected as the firm makes the adjustment to achieve long-term growth from in-house funds