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Ottawa, April 21, 2005
2005-030

Minister Goodale Proposes Appointment of New CDIC President and CEO

Minister of Finance Ralph Goodale today proposed the appointment of Guy L. Saint-Pierre as President and Chief Executive Officer of the Canada Deposit Insurance Corporation (CDIC). The recommendation will be referred to the House of Commons Standing Committee on Finance for review.

"I am pleased to propose Mr. Saint-Pierre for this important position," Minister Goodale said. "His experience includes a solid understanding and knowledge of the Canadian financial services sector and its regulatory environment, as well as a strong commitment to consumer protection."

Mr. Saint-Pierre, who is currently CDIC’s Executive Vice-President and Chief Operating Officer, has been with the corporation for the past 18 years. Widely recognized as an expert in deposit insurance, he has been instrumental in the design and implementation of a number of deposit insurance innovations that have since been adopted by many organizations both in Canada and abroad.

A native of Québec, Mr. Saint-Pierre was educated in Ottawa, where he resides. He holds the designations of chartered accountant (CA) and certified management accountant (CMA).

CDIC is a federal Crown corporation that provides deposit insurance against the loss of deposits with its member banks, trust companies and loan companies in the event of their failure. CDIC works to minimize its exposure to loss and contributes to the stability of the Canadian financial system for the benefit of depositors.

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