CI Financial announces date for retirement of Stephen MacPhail and appointment of Peter Anderson as CEO

TSX Symbol: CIX

TORONTO, May 17, 2016 /CNW/ - CI Financial Corp. ("CI") today announced that Peter Anderson will succeed Stephen MacPhail as Chief Executive Officer of the corporation effective June 1, 2016.

Mr. MacPhail's decision to retire as CEO after a 22-year career at the company, and Mr. Anderson's appointment were previously announced on February 11, 2016. Since March 1, 2016, they have been working closely to ensure a smooth transition. The transition of the role of CEO will take place on June 1, 2016 and Mr. MacPhail will remain at CI until June 30, 2016 to provide ongoing advice.

"Peter and I have spent considerable time meeting with customers, staff members, investors and other stakeholders across Canada and the transition has gone exceptionally well," Mr. MacPhail said. "With Peter's extensive experience in the industry and as a senior executive with CI, the company will be in very capable hands."

About CI Financial
CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company with approximately $143 billion in assets as of April 30, 2016. Its primary operating businesses are CI Investments Inc., one of Canada's largest investment managers, advisory businesses Assante Wealth Management and Stonegate Private Counsel, and First Asset Capital Corp., a leader in providing actively managed exchange-traded funds to the Canadian marketplace. CI is on the Web at www.cifinancial.com.

SOURCE CI Financial Corp.

William T. Holland, Executive Chairman, CI Financial Corp., [phone]