Wealth management company Loring Ward International Ltd. says Donald Herrema will succeed Marty Weinberg as president and CEO, effective today.

As a former CEO of such major wealth management companies as Bessemer Trust and Atlantic Trust, Herrema will direct Loring Ward’s operations out of New York, working to complete its transition into a truly U.S. based operation. Weinberg will remain active as non-executive chairman of the company’s board of directors.

“We are delighted to have been able to attract a person of Don’s caliber to lead our organization,” said Weinberg. “The significant executive management experience he brings, along with his deep understanding of our target markets in the U.S., assures me that this important leadership position is being filled by the right person at the right time.”

The company has been in the process of steadily reassigning key management responsibilities from executives in Canada to those based in the U.S. over the past year, as well as reorganizing its business units to provide more strategic focus.

The appointment of Herrema brings the company one step closer to its goal of fully exporting the management of its operations to a completely U.S. based team.

In his new role, he will assume responsibility for the overall management of the public company and for enhancing Loring Ward’s presence in the U.S. marketplace, improving recruitment and acquisition opportunities, and strengthening the management of all of the company’s core business interests.

The company further announced that Kishore Kapoor, executive vp, corporate development is also in the process of transitioning his responsibilities to senior executives based in the United States. “Now that Don has been confirmed to succeed Marty, our mandate of transforming Loring Ward into a truly U.S. based organization is that much closer to being completed,” said Kapoor, who will be staying on until June 30, 2005 or until such time as the transition of his duties is complete.

Loring Ward International Ltd. provides wealth, career and life management services to some of America’s most enterprising and successful individuals and families through its Family Offices and independent financial advisors.