Sprott Asset Management appoints new CEO

Peter Grosskopf will take over from Eric Sprott as CEO from September 7;Sprott will move to chairman

(Reuters) - 

Sprott Inc (SII.TO: Quote), one of Canada's best-known fund managers, said Peter Grosskopf will take over as chief executive effective Sept. 7.

Eric Sprott, who has been the CEO of the company since November 2009, will replace Jack Lee as the chairman of Sprott Inc.

Grosskopf will also serve as the chief executive of Sprott Resource Lending Corp, currently known as Quest Capital Corp. (QC.TO: Quote).

Sprott Inc, which has built a reputation for bucking market trends, had agreed with Vancouver-based real estate lender Quest Capital to rebrand and serve the resource and energy sectors.

Grosskopf, who has over 23 years of experience in the Canadian financial services industry, will get five million common shares of Sprott Inc over the next three years.

Shares of Sprott Inc closed at C$3.30 Tuesday on the Toronto Stock Exchange. (Reporting by Krishna N. Das in Bangalore; Editing by Unnikrishnan Nair)

© Thomson Reuters 2010 All rights reserved

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