Toronto-based CI Financial plans to make Steven Donald chief executive of its Assante Wealth Management subsidiary when Joseph Canavan steps down in November 2009 after six years at the helm. Donald is now Assante's president and chief operating officer, a position he has held since mid 2005. 

"As CEO, Steve will continue to provide strong leadership to Assante employees and the advisor network," says CI's president Stephen MacPhail.

Donald joined Assante in 2003 - around the time CI acquired it and Canavan came in as CEO - from Synergy Asset Management Inc., where he was chief financial officer.

Assante supports about 800 advisors who oversee approximately $19 billion in end-client assets.