CFA Institute, the global association of investment professionals, has appointed Margaret Franklin, CFA, as its new CEO and president, the first woman to hold the position in its 73-year history. She will assume the role on September 2, taking over from Paul Smith.

Franklin has been a leader in the investment management industry for 28 years, most recently as president of BNY Mellon Wealth Management in Canada and head of International Wealth Management in North America.

Her deep practitioner experience has been gained at firms ranging from large global asset managers to startups, including Marret Private Wealth, State Street Global Advisors and Barclays Global Investors. Her work has included advising individuals, families, pension plans, endowments, foundations and government agencies.

Franklin’s experience with CFA Institute also runs deep. In 2011, Franklin was chair of the Board of Governors of CFA Institute, which is a volunteer position, and is a member of CFA Society Toronto, where she has also served on its board.

She is a founding member of the CFA Institute Women in Investment Initiative, a past recipient of its Alfred C. Morley Distinguished Service Award in 2014, and a member of its Future of Finance Content Council.

Smith, who previously announced his departure at the end of 2019, will remain in an advisory capacity to the CEO until December 31.