WINNIPEG, MB — February 18, 2026 — Leads & Copy —
IGM Financial Inc. (IGM) (TSX:IGM) has announced senior leadership changes effective July 1, 2026. These changes aim to provide continuity and build on the company’s current momentum.
Damon Murchison has been appointed President and CEO of IGM, while retaining his role as President and CEO of IG Wealth Management (IG). This appointment follows Power Corporation of Canada’s announcement that James O’Sullivan, current President and CEO of IGM, will become President and CEO of Power Corporation. O’Sullivan is succeeding Jeffrey Orr, who will become Vice-Chair of Power.
The IGM Board is expected to appoint O’Sullivan as Chair, effective July 1, 2026. Murchison will stand for election to the Board of IGM at the annual meeting of shareholders. Orr will also stand for re-election to IGM’s Board and will serve as Chair of IGM until June 30, 2026.
Orr, Chair of IGM, stated that Murchison brings deep industry and organizational understanding, proven leadership, and a commitment to clients and people and is the right leader to guide IGM’s next chapter of growth.
Murchison, who has been with IGM for over 11 years, has delivered significant impact with both IG and Mackenzie Investments. He has transformed and strengthened IG’s competitive position, developing a multi-channel approach focused on the mass affluent and high-net-worth segments. His appointment is a reflection of his track record and the strength of IGM’s leadership team and commitment to culture, succession, and talent development. Murchison has held senior leadership positions across the asset and wealth management industries.
Murchison expressed his honor in taking on this role and continuing to build on the progress achieved by the IG and Mackenzie teams under O’Sullivan’s leadership. He said his roles across the IGM group of companies have allowed him to appreciate the breadth of the business. Murchison added that IGM has a solid foundation, exceptional talent, and tremendous opportunities ahead and looks forward to advancing their strategy alongside the leadership team and delivering strong outcomes for key stakeholders.
During his tenure as President and CEO of IGM, O’Sullivan advanced IGM’s strategy, client experience, financial performance, and culture. He established a clear path to sustainable earnings growth, strengthened the strategic orientation across wealth management and asset management, and championed strategic investments within each pillar.
Orr stated that O’Sullivan is an outstanding leader who, along with his team, has positioned IGM for continued future growth across its key business segments and strategic investments and that IGM will continue to benefit from his experience and judgement.
O’Sullivan stated that leading IGM has been a privilege, and he is proud of the impact their team has made together. O’Sullivan added that IGM’s position has never been stronger, with record levels of client assets and earnings combined with $1 billion in unallocated capital and low debt levels.
O’Sullivan added that Murchison has been instrumental to their success and is well suited to lead the organization forward, ensuring IGM remains in strong and capable hands.
IGM Financial Inc. is a Canadian diversified wealth and asset management organization with approximately $316 billion in total assets under management and advisement as of January 31, 2026. IGM provides financial planning and investment management services to approximately two million Canadians. IGM’s activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complemented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. IGM is a member of the Power Corporation group of companies.
Source: IGM Financial Inc.
