The Canadian Association of Income Funds (CAIF) today announced that Paul Hollands, CEO of A&W Revenue Royalties Income Fund has been appointed chairman of the association.

Hollands takes over the reigns from Stephen Probyn, president and CEO of Clean Power Income Fund and the founding chairman of CAIF in 2002.

“Over the past four years since its inception, CAIF, under Stephen’s very capable leadership, has been very successful in representing the interests of one of the fastest growing and most important sectors of Canada’s capital markets. I look forward to continuing his work at both the provincial and national levels on behalf of all of our members,” said Hollands, in a release.

Hollands joined A&W Food Services of Canada in 1980, became executive vp and COO in 1995, president in 2002 and CEO in February 2005. A&W franchises and operates over 660 quick service hamburger restaurants across Canada.

He holds a Bachelor of Commerce degree from the Sauder School of Business at the University of British Columbia and is a past chairman of the Canadian Restaurant and Foodservices Association.