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Minister Goodale Announces Appointment of New CDIC President and Chief Executive Officer

Minister of Finance Ralph Goodale today announced the appointment of Guy L. Saint-Pierre as President and Chief Executive Officer of the Canada Deposit Insurance Corporation (CDIC). As part of the Government’s policy of providing a greater role for parliamentarians in reviewing appointments, Mr. Saint-Pierre appeared before the House of Commons Standing Committee on Finance on May 5, 2005.

"Mr. Saint-Pierre is widely recognized as an expert in deposit insurance and brings a wealth of experience to his new position," said Minister Goodale. "With his knowledge of the financial services sector and his commitment to the protection of consumers, Mr. Saint-Pierre will ensure that CDIC continues to protect Canada’s deposit insurance system."

An 18-year veteran of the corporation, Mr. Saint-Pierre currently serves as CDIC’s Executive Vice-President and Chief Operating Officer. 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 and certified management accountant.

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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