Seamark Asset Management Ltd. has announced that Brent W. Barrie has been appointed CEO after the resignation of Stuart R. Raftus, the company’s former director, president and CEO.

“I would like to thank Stuart for his service to the company over the last three years and wish him all the best in the future,” said Steve Rankin, chairman of Seamark.

As a result of Raftus’ resignation, the company expects one-time expenses to reduce first quarter 2009 earnings by 51¢ a share. Seamark also anticipates a $2 million decline in current assets and a $1.5 million drop in on going annual expenses.

Barrie joined Seamark in 2001. He has been an executive officer of the company for the last eight years and has been chief operating officer since February 2008. His roles have included serving as a member of the equity research team and overseeing the company’s compliance and investor relations functions.

Barrie is a graduate of Dalhousie Law School, and has earned the Chartered Financial Analyst designation, the Certified Financial Planner designation and the Canadian Investment Manager designation.

IE