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Margaret Franklin has been appointed president and CEO of the New York-based CFA Institute, effective Sept. 2. She succeeds Paul Smith, who will remain with the association in an advisory capacity to the CEO until Dec. 31, according to a release from the CFA Institute.

Franklin brings 28 years of investment industry experience to the role, having served most recently as president of BNY Mellon Wealth Management. She has also had roles at Marret Private Wealth, State Street Global Advisors and Barclays Global Investors.

Franklin’s experience with the CFA Institute is extensive. She was chair of the board of governors in 2011 and is a member of CFA Society Toronto, where she has also served on the board. She was one of the founders of the CFA Institute Women in Investment Initiative, and received the association’s Alfred C. Morley Distinguished Service Award in 2014.

Franklin will be the first woman to head the CFA Institute in its 73-year history.

“Marg joins CFA Institute at a time when candidate growth and our global society network are at all-time highs,” Heather Brilliant, chair of the board of governors of the CFA Institute, said in a release. “We thank Paul for his work to promote the CFA charter and fair and functioning markets all over the world. He leaves a strong organization ready to address the challenges of markets and economies in flux, passing the baton to Marg Franklin, a proven leader.”