Chris Hodgson is resigning as president and CEO of Altamira Investment Services Inc. after less than one year of heading up the mutual fund company.

National Bank of Canada said Thursday that Hodgson will step down effective July 11.

According to reports Hodgson will be returning to Scotia Capital Inc., the brokerage arm of Bank of Nova Scotia, to head retail operations as senior managing director of wealth management.

Hodgson could not be reached for comment Wednesday, but a Scotiabank confirmed he will begin work there on July 14.

Hodgson left Scotia Capital to join Altamira in 1998, and was appointed CEO last September, shortly after the resignation of Gordon Cheesbrough. That shuffle occurred only weeks after National Bank of Canada acquired Altamira in a deal valued at $472 million.

“Chris has been a major factor in the success of the transition plan since National Bank’s purchase of Altamira,” commented Michel Tremblay, chairman of the board of directors of Altamira and senior vice president, personal banking and wealth management, National Bank.

An executive search committee has been formed to recruit a new permanent CEO for Altamira. In the interim, Marc Knuepp, currently chief financial officer, will become Altamira’s CEO.