The management team at venerable money manager Jarislowsky Fraser is being shuffled after Len Racioppo, the current chief, told the board he is resigning.
Marc Trottier, another director, will also back away, according to a statement from the Montreal-based company.
The move is a dramatic shift for Jarislowsky Fraser and will see veterans depart. Mr. Racioppo, for instance, has been with the company since 1987. Both he and Mr. Trottier will leave at the end of the month.