BluMont Capital Inc. announced two key executive appointments last week. Effective immediately, Stephen Kangas becomes president and Tom Simpson becomes chairman of the board.

Kangas assumed the president’s title from Toreigh Stuart, who remains the CEO of BluMont Capital. Simpson replaces founding chairman, David Currie, who is retiring after serving five years in the position.

Kangas is widely regarded as one of Canada’s leading authorities on mutual and hedge funds. He has over 10 years experience in the investment industry having been an executive at Midland Walwyn (now CIBC Wood Gundy), BMO Nesbitt Burns, and TD Canada Trust. Prior to joining BluMont, Kangas ran his own consulting firm offering his expertise to investment management firms and financial advisors.

Simpson was executive vp and director for Global Strategy Financial Inc., a mutual fund company that managed and distributed the Global Strategy Investment Funds in association with Rothschild Asset Management Ltd., of London, England. Simpson is presently a director at University of Toronto Asset Management and was formerly chairman of the University of Toronto’s Governing Council and a trustee of the Royal Ontario Museum.

“We are very pleased to have Stephen as our new president and Tom as our new chairman of the board” said Stuart, in a release.

“It goes without saying how much we will miss David for his industry knowledge, insight and wise counsel that were so significant to our success these past five years. On behalf of the Corporation, we wish David all the best and thank him for his invaluable contribution,” Stuart added.

BluMont Capital is a leading provider of alternative investment products specializing in hedge funds.