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Cannabis plants are photographed at a CannTrust greenhouse facility in Fenwick, Ont.

Tijana Martin/The Canadian Press

Part of cannabis and investing

Available now: Cannabis Professional, the authoritative e-mail newsletter tailored specifically for professionals in the rapidly evolving cannabis industry. Subscribe now.

The former chief executive of Scotiabank’s online bank Tangerine is now CEO of marijuana company CannTrust.

The Ontario-based licensed medical cannabis producer says Peter Aceto has been appointed to the top job, effective immediately.

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CannTrust says co-founder and CEO Eric Paul has stepped down from his role at the helm and has been named chairman of the board and special adviser.

Aceto was president and CEO of online bank Tangerine, formerly ING Direct Canada, from 2008 to 2017.

Scotiabank acquired ING Direct Canada in 2012, and later changed its name to Tangerine.

Aceto’s appointment as CannTrust CEO comes just weeks before Canada legalizes marijuana for recreational use on Oct. 17.

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