Canadian Medical Association

Canadian Medical Association

May 29, 2006 14:30 ET

CMA Holdings Incorporated Appoints New President & Chief Executive Officer

OTTAWA, ONTARIO--(CCNMatthews - May 29, 2006) - CMA Holdings Incorporated (CMAH) has announced the appointment of Brian F. Peters as President and Chief Executive Officer, effective July 1, 2006. CMAH, a wholly-owned subsidiary of the Canadian Medical Association, provides a range of financial services and practice management solutions to more than 62,000 physician members across Canada.

Mr. Peters has extensive experience as a senior executive in financial services, with proven leadership in the development and implementation of successful business strategies. He was most recently President and CEO of RBC Dain Rauscher, the U.S. operating subsidiary of RBC Financial Group. In more than 25 years with RBC, Mr. Peters held senior executive positions in wealth management and retail financial services. He has also been actively involved in his community, particularly with hospital boards in Minnesota and Ontario.

"We are delighted to attract an executive of Brian's stature and we're confident that CMAH will continue to thrive under his leadership," said Dr. Ian M. Warrack, Chairman of the Board, CMAH. "He will provide vision and leadership to our operating groups as they continue to evolve, ensuring real value to the CMA and its members. Brian has a keen interest in serving and supporting healthcare, and we know that he will be a great fit for our organization."

"It's an honour to lead such a successful organization," said Mr. Peters. "The more I learn about CMAH the more impressed I am with how it operates, and I feel privileged to serve physicians in a unique organization that offers both outstanding financial services and innovative practice management solutions. I'm passionate about healthcare in Canada and this challenge is an ideal opportunity to live it every day."

Mr. Peters will replace F. Robert Hewett. Mr. Hewett has served as President and Chief Executive Officer of CMAH since 1997 and previously announced his intention to retire in January 2005, commencing an orderly and thorough process to identify and select a successor. During Mr. Hewett's leadership the CMA membership has grown from 43,000 to more than 62,000, while assets under administration increased from $6.3 billion to more than $22 billion.

"Rob led a period of significant growth and evolution for CMAH," said Dr. Warrack. "Excellent financial results are only part of the story. He developed our core business, MD Management, by adding talented people, innovative products and new services for physicians. In addition, Rob led the development of our Physician Services Group, which offers valuable technology solutions, web services and practice management tools to help physicians enhance their patient care. He also took us into the first of our businesses outside of the physician market by acquiring a controlling interest in Howson Tattersall Investment Counsel and then taking it public as Saxon Financial."

"Rob's vision truly changed the face of our company and has strongly positioned it for the future," said Dr. Warrack. "He also proved to be an excellent advisor for the CMA and represented the individual physician at every opportunity. We sincerely thank Rob for 10 years of outstanding leadership, and wish him a long, happy and healthy retirement."

Dr. Warrack added: "CMAH is a very successful business. We have a strong, experienced management group and a dedicated team of employees. Delivering value to our members is the foundation of our company and we know that Brian Peters will build on this success."

About CMAH Incorporated

CMAH is a private Ottawa-based company, fully owned by the Canadian Medical Association. CMAH's mission is to provide services to CMA physician members that enhance their business and personal lives. Its activities are structured in three groups: MD Financial Group (financial services), Physician Services (practice management solutions) and a minority interest in Saxon Financial Inc. (investment management). CMAH employs 1,100 people who serve physicians from offices across Canada. CMAH has more than $22 billion of assets under management.

Contact Information

  • CMA
    Carole Lavigne
    Manager, Media Relations
    (613) 731-8610 ext. 1266
    1-800-663-7336 ext. 1266