The Canadian mutual-fund industry will get a new public face next year when Joanne De Laurentiis becomes president of the Investment Funds Institute of Canada.

The fund industry association said that De Laurentiis, now president of Credit Union Central of Canada, will take over as IFIC's chief executive Jan. 16.

She succeeds Tom Hockin, who is retiring after heading Toronto-based IFIC for 11 years.

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Shortly after the arrival of Nortel Networks' new CEO Mike Zafirovski, the Brampton communications equipment-maker confirmed that chief research officer Brian McFadden and global services president Sue Spradley are leaving the company.

Nortel declined to give more details on the departures of the long-time Nortel executives. Current executives will assume Spradley and McFadden's responsibilities.

Nortel's executive suite has gone through major changes this year as the company prepares for its future after serious accounting issues.

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Business process outsourcing company Minacs Worldwide Inc. (TSX:MXW) says Bruce Simmonds of Toronto is succeeding founder Elaine Minacs as CEO. Minacs continues as executive chair.

Simmonds, a chartered accountant, was most recently CEO of ClubLink Corp.

Minacs provides business process outsourcing. Its headquarters are in Toronto.

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There's a new chief financial officer at Environmental Waste International Inc. (TSXV:EWS). Michael Abrams has more than 23 years of private-practice experience.

EWI has its head office in Ajax.

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Dundee Wealth Management Inc. has signed a deal to buy investment firm KL Nova Financial Ltd.

Under the deal, Don Charter will step aside from his role as chief executive of Dundee Securities and the associated companies, with KL Nova founder Kym Anthony taking over as chief executive.

Dundee Wealth (TSX:DW) has its corporate offices in Toronto.

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Mercury Interactive Corp. (Nasdaq:MERQE) has hired Andy Aicklen as its regional VP and managing director for Canada.

Before joining Mercury, Aicklen was the vice-president and managing director of PeopleSoft Canada.

Mercury provides software and services for IT governance, application delivery,and application management.

Its Canadian head office is in Mississauga.

- with files from The Canadian Press

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