Tom MacMillan steps down at Gluskin Sheff, Jeff Moody named new CEO

TORONTO _ Investment manager Gluskin Sheff and Associates Inc. named Jeff Moody as its new president and chief executive.

He replaces Tom MacMillan, who the firm said decided to step down from the top job and the board.

Moody joined Gluskin Sheff (TSX:GS) in 2001 and was most recently senior executive vice-president, investments and client wealth management and chairman of the asset mix committee.

The change came as the firm reported a profit of $5.8 million or 19 cents per diluted share on nearly $31.6 million in revenue for the quarter ended June 30.

That compared with a profit of $3.3 million or 11 cents per diluted share on $27.4 million in revenue in the same quarter a year ago.

Assets under management increased to nearly $8.9 billion compared with nearly $8.3 billion in the same quarter last year.