SARASOTA — John Mousseau has been elected president and CEO at Cumberland Advisors, the local financial advisory firm with more than $3 billion under management.

Cumberland co-founder David Kotok remains chairman of the board and chief investment officer in what the firm called a long-considered succession plan.

As Cumberland marks its 45th anniversary — the past eight years headquartered in Sarasota — Mousseau takes over the day-to-day responsibilities of running the firm. He has been a member of Cumberland management and director of fixed income for 18 years. He has more than 30 years of investment management experience.

“The best way to insure the continuous delivery of a high level of quality service to our clients is to execute a well-thought-out succession plan,” Kotok said Monday in a news release. “Many firms wait too long and become reactive to unfortunate events. At Cumberland, we want to be proactive, not reactive.”

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