ATB Financial president and CEO Dave Mowat is retiring at the end of June after 11 years as head of the Alberta Crown corporation.

The bank says it is starting a search for a replacement and will announce Mowat’s successor in May.

Mowat, 62, led the bank through the 2008-09 financial crisis, as well as the oil price downturn that took hold in 2015, and leaves as the economy shows signs of recovery.

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Over Mowat’s tenure, the bank’s assets climbed from $20.3 billion in 2007 to $49.6 billion as of last September, while total operating revenue went from $751 million to a last reporting of $1.5 billion.

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He also headed the review of the province’s royalty regime initiated by the Alberta NDP government that left the existing system largely in place.

Mowat says that after a decade of leading the bank, it’s time for a new leader to infuse the company with new ideas and approaches.

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Originally published on Advisor.ca
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