CEO James Werry has departed Richardson GMP Ltd., and Andrew Marsh, the firm’s former managing director of national sales, has been appointed its new CEO, the company announced Thursday.

The wealth management firm, which was formed in November following the merger of GMP Capital Inc. and James Richardson & Sons, Ltd., did not provide a reason for Werry’s departure.

“With any merger, change is part of the process,” the firm stated. “Andrew’s appointment positions the firm to continue accelerating growth, refining processes and driving innovative wealth management solutions for successful Canadian families and entrepreneurs.”

Marsh has more than 20 years of experience in financial services, and was part of the senior management team of GMP Private Client for more than six years. He played an integral role in the merger, the company said.

Werry had been president and CEO of GMP Private Client L.P. since it was formed in 2005, and became CEO of Richardson GMP upon the completion of the merger in November.

Richardson GMP also announced that Win Smith, former head of international retail operations for Merrill Lynch, has been appointed as chairman of the board.

IE