Jean-Philippe Lemay was named global president and CEO of Fiera Capital.
Jean-Guy Desjardins, founder and former CEO, will become executive chairman of the board of directors, Fiera said in a news release on Wednesday.
Mr. Desjardins will remain active in "key strategic and investment decisions within the organization, including an ongoing commitment to serving the firm's clients," Fiera Capital noted in the release.
Mr. Lemay, who joined the firm in 2012, formerly had been global president and chief operating officer, the release said. He will "maintain his existing operational oversight responsibilities. As such, a separate COO function as it is known today is not necessary," Alex-Anne Carrier, a spokeswoman for Fiera Capital, said by email.
Fiera Capital had C$180.8 billion ($142.2 billion) in assets under management as of Sept. 30.