CDIC Board of Directors—Biographies

Bryan P. Davies (Chair)

Mr. Davies was appointed Chair of the Canada Deposit Insurance Corporation in 2006. Prior to his appointment, Mr. Davies was Chief Executive Officer and Superintendent of the Financial Services Commission of Ontario from 2002 to 2005. Before then, he was Senior Vice President of Regulatory Affairs at the Royal Bank Financial Group. Mr. Davies held a number of senior positions in the Government of Ontario from 1975 and 1992, including Deputy Treasurer and Deputy Minister of Economics, and was Vice President of Business Affairs and Chief Administrative Officer at the University of Toronto from 1992 to 1994.

Mr. Davies is a member of the Board of the General Insurance Statistical Agency, and is Vice-Chair of the Canadian Securities Transition Office. He is active in a number of non-profit organizations.

Mr. Davies is a graduate of Queen’s University (Masters in Public Administration) and of the University of Toronto (B. Comm.). His distinguished leadership and significant contribution in the field of public administration has been recently recognized by the Institute of Public Administration of Canada which awarded him the 2010 Vanier Medal.

 George Burger (Private Sector Director)

George Burger is a senior media and broadcasting industry executive with a legal background.

He was most recently President and CEO of The Fight Network, a Category 2 sports genre channel. Prior to that, he was the Chairman, President and CEO of Spotlight Television Inc. Mr. Burger was formerly the Executive Vice President and second in command of Alliance Communications Corporation, then Canada’s largest fully integrated media and entertainment company.

Prior to joining Alliance in 1994, Mr. Burger was a senior partner with the Corporate Finance and Mergers and Acquisitions group at the national law firm Heenan Blaikie. A graduate of the University of Toronto Law School, he also was awarded an LLM from the University of Sydney, where he studied public company finance and international tax.

Les Cannam (Private Sector Director)

Mr. Cannam is a former partner and retired from the chartered accountancy and advisory firm MNP in Saskatoon. Over his 40 years in the field, he has held a number of professional positions, including a member of the Canadian Institute of Chartered Accountants Board of Governors, the president of the Institute of Chartered Accountants of Saskatchewan, and has sat on a number of Chartered Accountant committees, both at the provincial and national level.

In 2004, Mr. Cannam received the Institute of Chartered Accountants of Saskatchewan’s Distinguished Community Service Award. He has been a member of the SaskTel Board of Directors, the University of Saskatoon Senate, and the Saskatoon Family Service Bureau’s Board of Directors.

John S. McFarlane (Private Sector Director)

Mr. McFarlane is currently a partner with Stewart McKelvey, an Atlantic Canada regional law firm. He has extensive expertise in the areas of financial institutions regulatory law, corporate and commercial law, corporate restructuring and insolvency, and property development. He is a member of the Canadian Bar Association, the Nova Scotia Barristers’ Society, and the Insolvency Institute of Canada.

Mr. McFarlane’s previous experience includes serving as the president of the Nova Scotia Barristers’ Society, a member of the Canadian Tax Foundation, a member of the Canadian Insolvency Association, and the Chair of the Law Foundation of Nova Scotia. He is also a former member of the Nova Scotia Barristers’ Society’s Committee for Legal Ethics, Discipline, Finance and Unauthorized Practices.

Mr. McFarlane graduated from Dalhousie University (BComm, 1967, and LLB, 1969). He was admitted to the bar in 1970 and appointed Queen’s Counsel in 1986.

Éric Pronovost (Private Sector Director)

Mr. Pronovost of Trois-Rivières, Quebec has extensive expertise in strategic market development and in logistics, financial and human resource management.

Mr. Pronovost’s previous experience includes the position of Senior Director at Samson Bélair/Deloitte & Touche Inc. and Director of Administration for Scotiabank. He has also been the President of the Trois-Rivières Chamber of Commerce and Industry.

Mr. Pronovost is a graduate of the Université du Québec à Trois-Rivières with a Bachelor’s Degree in Accounting (1989). He received his Chartered Accountant (CA) designation in 1993, and in 1997 achieved both his Chartered Insolvency and Restructuring Professional (CIRP) designation and his Trustee in Bankruptcy qualifications.

Shelley Tratch (Private Sector Director)

Ms. Tratch is a Director of the British Columbia Provincial Health Services Authority, including B.C. Children’s Hospital and the B.C. Cancer Agency, a Director and Vice-Chair of British Columbia Film, a Director of the Health Employers Association of British Columbia (HEABC), a Director of the Canadian Association of Provincial Cancer Agencies (CAPCA), a Governor of Collingwood School, and a member of the Law Society of British Columbia.

Ms. Tratch served as a leading corporate lawyer for more than 23 years and is a former senior partner with a large national law firm. In 2003, Ms. Tratch was presented with a Queen's Golden Jubilee Medal in recognition of her "service to the community and leadership in the legal profession", and in 2005 she was awarded the PEAK Lifetime Achievement Award by the Association of Women in Finance, for achievement in the field of finance. A graduate of the University of British Columbia, Ms. Tratch received a Bachelor of Commerce in 1978 and Law degree in 1980. She currently resides in West Vancouver, B.C.

Mark Carney (Ex Officio Director)

Mr. Carney was appointed Governor of the Bank of Canada effective 1 February 2008, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank.

In addition to his duties as Governor of the Bank of Canada, he serves as Chairman of the Financial Stability Board (FSB) and as a member of the Board of Directors of the Bank for International Settlements (BIS). Mr. Carney is also a member of the Group of Thirty, and of the Foundation Board of the World Economic Forum.

Born in Fort Smith, Northwest Territories, Mr. Carney received a bachelor’s degree in economics from Harvard University in 1988. He received a master’s degree in economics in 1993 and a doctorate in economics in 1995, both from Oxford University.

Prior to joining the public service, Mr. Carney had a thirteen-year career with Goldman Sachs in its London, Tokyo, New York and Toronto offices. Mr. Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In November 2004, he left the Bank to become Senior Associate Deputy Minister of Finance – a position he held until his appointment as Governor of the Bank.

Agathe Côté (Alternate)

Agathe Côté was appointed Deputy Governor of the Bank of Canada, July 30, 2010. In this capacity, she is one of two deputy governors responsible for overseeing the Bank’s analysis and activities in promoting a stable and efficient financial system. As a member of the Bank’s Governing Council, she shares responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank.

Born in Saint-Hyacinthe, Quebec, Ms. Côté received a bachelor’s degree in economics in 1981 and a master’s degree in economics in 1983, both from the University of Montréal.

Ms. Côté joined the Bank in 1982 as an economist in the International Department and, later, in the Department of Monetary and Financial Analysis. After assuming a series of positions of increasing responsibility, Ms. Côté was appointed Deputy Chief of the Department of Monetary and Financial Analysis in 2000 and, in 2001, Deputy Chief of the Financial Markets Department. From 2003 until 2008, she was Chief of the Bank’s Research Department (now Canadian Economic Analysis). In 2008, Ms. Côté was appointed Adviser to the Governor, with responsibilities in the area of domestic and international monetary policy issues, and Secretary to the Governing Council for Monetary Policy. Ms. Côté has also been a member of Statistics Canada’s Advisory Committee on National Accounts.

Michael Horgan (Ex Officio Director)

Mr. Horgan joined the Canadian federal public service in 1978, serving first as an Energy Economist in the Department of Finance. In 1980, he moved to the Department of Energy, Mines and Resources as the Executive Assistant to the Senior Assistant Deputy Minister (Energy Policy). In both capacities, he worked as a junior officer on a number of energy issues, including the National Energy Program.

After a period of educational leave, Mr. Horgan returned in 1986 to the Department of Finance as an Economist in the Economic Development Division. Subsequently, he moved to the Sales and Excise Tax Division, where he held a number of positions culminating as Assistant Director. There he worked on the design and implementation of the Goods and Services Tax.

In 1990, Mr. Horgan took up the position of Director, Economic and Policy Analysis, at Environment Canada, working primarily on the Green Plan. Later, he was named Director of the International Economic Analysis Division of the Department of Finance. In the fall of 1993, he became the Assistant Secretary, Priorities and Planning, in the Privy Council Office. In 1996, he was appointed Deputy Secretary to the Cabinet, Intergovernmental Policy and Communications, where he worked on federal policy responses in the aftermath of the 1995 Quebec referendum.

In 1998, Mr. Horgan was appointed Executive Vice-President and Associate Deputy Minister of the Atlantic Canada Opportunities Agency (ACOA) in Moncton, N.B. A year later, he became President of ACOA. In 2001, Mr. Horgan returned to Ottawa as Senior Associate Deputy Minister of Finance, also serving for a time as the G7/G20 Finance Deputy for Canada.

In 2003, Mr. Horgan was appointed Deputy Minister of Indian and Northern Affairs. In that capacity, he worked on the Kelowna Accord and served as the chief federal negotiator on issues related to the Mackenzie Valley Pipeline. In 2006, he was named Deputy Minister of Environment.

In 2008, Mr. Horgan took up the position of Executive Director of the International Monetary Fund for the Canadian, Irish and Caribbean constituency.

In his public service career, Mr. Horgan has also served in a number of other capacities including Chairman of the Enterprise Cape Breton Corporation, member of the Financial Institutions Supervisory Committee, Alternate Director of the Canada Deposit Insurance Corporation, and Director of the Export Development Corporation.

Mr. Horgan has a B.A. in Economics from Concordia University: Loyola College (Montréal, Quebec) and Master’s Degrees in Economics from Queen’s University (Kingston, Ontario) and Princeton University (Princeton, New Jersey).

Michael Horgan became Deputy Minister of Finance on September 8, 2009.

In 2007, Mr. Horgan was awarded the Prime Minister’s Outstanding Achievement Award for Public Service.

Jeremy Rudin (Alternate)

Jeremy Rudin was recently appointed Assistant Deputy Minister of the Financial Sector Policy Branch, Department of Finance, after serving as General Director since 2006.

The branch’s responsibilities cover a wide range of issues including: policy and legislation governing federally-regulated financial institutions, the management of the government’s market debt and international reserves, and strategies to combat money laundering and terrorism financing.

He joined the Department of Finance in the Economic and Fiscal Policy Branch in 1993. He held a number of positions in that branch, where he was General Director from 2001 to 2004. In that role, he was closely involved in the development of the federal budget. Immediately prior to joining the Financial Sector Policy Branch, he was Director, Funds Management in the Financial Markets Department of the Bank of Canada.

Before joining the public service, he taught economics at the University of British Columbia and Queen’s University, during which time he co-authored a leading textbook on Canadian macroeconomics. He holds a B.A. from the University of Toronto, an M.C.R.P. from Harvard University and a Ph.D. in economics from Stanford University.

Julie Dickson (Ex Officio Director)

Julie Dickson was appointed Superintendent of Financial Institutions in June 2007, for a seven-year term.

Ms. Dickson joined the Office of the Superintendent of Financial Institutions (OSFI) in April 1999, and was Assistant Superintendent, Regulation Sector, from January 2000 to June 2006, when she was appointed Deputy Superintendent. In October 2006, she was appointed Acting Superintendent.

Prior to joining OSFI, Ms. Dickson served in both the public and private sectors. In the federal government, she served for 15 years with the Department of Finance, primarily in areas related to financial institution policy. In the private sector, she served as Group Leader of the Financial Institutions Practice for a national consulting firm from 1995 to 1998.

As Superintendent, Ms. Dickson serves on the Council of Governors of the Canadian Public Accountability Board, the board of directors of the Canada Deposit Insurance Corporation, and the board of directors of the Toronto Leadership Centre. She also represents OSFI on the Financial Stability Board, and was a member of the Basel Committee on Banking Supervision from 2002 and 2006.

Ms. Dickson has a Masters of Economics from Queen’s University and a Bachelor of Arts (Honours Economics) from the University of New Brunswick.

F. Edward (Ted) Price (Ex Officio Director)

Ted Price joined OSFI in 2001 and was appointed Deputy Superintendent in July 2011.

In this role, he is responsible for supervision of Canada’s approximately 400 federally regulated financial institutions. Previously at OSFI, Mr. Price directed the supervision of large banks and insurance companies, and the assessment of capital markets risk. He also led the implementation of the Basel II Capital Accord Framework in Canada. Ted represents OSFI on the Senior Supervisors Group, a multilateral working group created by the G20 leaders in the aftermath of the global financial crisis, and he was recently selected to represent OSFI on the IAIS Supervisors Forum.

Mr. Price joined OSFI following a career in investment banking, having held various senior executive positions in government finance, fixed income and capital markets product development, in Toronto and New York. Mr. Price began his career in bond trading and pension fund asset management.

Mr. Price is a member of the Board of Directors of Canada Deposit Insurance Corporation. He holds a Master of Arts degree in Economics from the University of Toronto and a Bachelor of Commerce (Honours) from Queen’s University at Kingston. He obtained the Chartered Director (C.Dir.) designation from the Directors College1 in 2009.

1 A joint venture of McMaster University and the Conference Board of Canada.

Ursula Menke (Ex Officio Director)

Ursula Menke was appointed Commissioner of the Financial Consumer Agency of Canada (FCAC) on December 4, 2007, for a five-year term. As Commissioner, Ms. Menke examines matters relating to federal consumer protection laws that apply to federally regulated financial institutions. Reporting to Parliament through the Minister of Finance, the Commissioner ensures that FCAC achieves its mandate: to help build a fair and competitive marketplace by protecting and informing consumers of financial products and services.

Ms. Menke has more than 30 years of public- and private-sector experience in finance, management, law, regulatory matters, operations and corporate governance.

Most recently, Ms. Menke served as Deputy Chief Risk Officer at Public Works and Government Services Canada (PWGSC). Before joining PWGSC, Ms. Menke held a variety of challenging public service positions, including Head of Coordination for Sponsorship Matters at the Privy Council Office, Deputy Commissioner of the Coast Guard, Secretary General of the Canadian Radio-television and Telecommunications Commission, and Inspector General of the Canadian Security Intelligence Service. She has also held various positions in corporate and legal services with the Office of the Superintendent of Financial Institutions and with the Department of Finance.

In the private sector, Ms. Menke was Vice-President, Counsel and Corporate Secretary at the Metropolitan Life Insurance Company from 1993 to 1998. She also ran a consulting company, Ursula Menke & Associates, from 1998 to 1999, focusing on the establishment of a regulatory framework for banking, insurance, trust and mutual fund operations.

Ms. Menke studied at McGill University, receiving the degrees of Bachelor of Science in 1968 and Bachelor of Civil Law in 1976. She also earned a teaching diploma from the University of Alberta in 1969.