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 Director of Suncor Energy Inc., and the General Insurance Statistical Agency. 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.).

Tracey Bakkeli(Private Sector Director)

A resident of Regina, Saskatchewan, Ms. Bakkeli is President of
T. Bakkeli Consultants Inc. and specializes in strategic planning, corporate governance, performance measurement and organizational change. She has previously worked for Ernst and Young as well as the Royal Bank of Canada and as a lecturer at the University of Regina on personnel and industrial relations.

Ms. Bakkeli is a Certified Management Consultant and received a Master of Business Administration (Dean's Honour List) from the University of Western Ontario in 1991, and a Bachelor of Administration (Great Distinction) from the University of Regina in 1986.

Claude Huot (Private Sector Director)

Mr. Huot is currently President and Director General of Le Groupe Stragesult, a consulting firm specializing in business and economic development. He has held many senior positions within the Government of Canada, including as Assistant Deputy Minister in several departments related to the economy. An economist and management consultant, Mr. Huot has extensive experience in economic and regional development and in business development. A resident of Montréal, Québec, Mr. Huot is a graduate of Université Laval, having earned a Bachelor of Arts degree and a Master’s degree in Economics. He also completed Harvard Business School’s Advanced Management Program.

Grant Morash, FCA (Private Sector Director)

Mr. Morash is an accounting and auditing consultant working primarily in Nova Scotia. He worked for Deloitte & Touche for approximately 45 years, during which time he served as the firm's Managing Partner for Nova Scotia and Prince Edward Island and Lead Client Service Partner for audit services for a number of institutions and corporations in Atlantic Canada. He became a Trustee in Bankruptcy in 1976. He retired as a Senior Partner of Deloitte & Touche in 1998. Mr. Morash is a Fellow of the Institute of Chartered Accountants of Nova Scotia and a former president of the Nova Scotia Institute.

He is extensively involved in community affairs having served as a member of the Board of Directors of the Neptune Theatre in Halifax for eleven years, as president from 1976 to 1978 and was elected an honourary life Director in 1981. Mr. Morash was a commissioner of the Halifax School Board from 1972 to 1974, and sat on the Board of the Sacred Heart School from 1984 to 1988. He was a member of the Nova Scotia Board of Review for Patients under Lieutenant Governor Warrants from 1971 to 1980. Mr. Morash served on the Executive and the Board of Directors of the Nova Scotia Heart and Stroke Foundation for 20 years and was President from 1988 to 1991. He was also a member of the Board of Directors and of the Executive Committee of the Canadian Heart and Stroke Foundation from 1988 to 1993. He has served as Vice President and a member of the Board of Directors of Symphony Nova Scotia.

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.

David A. Dodge(Ex Officio Director)

Mr. Dodge was appointed Governor of the Bank of Canada on February 1, 2001, for a term of seven years. As Governor, he is Chairman of the Board of Directors of the Bank.

A native of Toronto, Mr. Dodge received a Bachelor's degree (Honours) in Economics from Queen's University and a PhD in Economics from Princeton (1972). During his academic career he has served as Assistant Professor of Economics at Queen's University; Associate Professor of Canadian Studies and International Economics at the School of Advanced International Studies, Johns Hopkins University; Senior Fellow in the Faculty of Commerce at the University of British Columbia; and Visiting Professor in the Department of Economics at Simon Fraser University. He has also served as Director of the International Economics Program of the Institute for Research on Public Policy.

During a distinguished career in the federal public service, Mr. Dodge has held senior positions in the Central Mortgage and Housing Corporation, the Anti-Inflation Board, and the Department of Employment and Immigration. After serving in a number of increasingly senior positions at the Department of Finance, including that of G-7 Deputy, Mr. Dodge was appointed Deputy Minister of Finance in 1992. In that role, he served as a member of the Bank's Board of Directors until 1997.

In 1998 Mr. Dodge was appointed Deputy Minister of Health, where he served until the announcement of his appointment as Governor of the Bank of Canada.

Rob Wright(Ex Officio Director)

Rob Wright became Deputy Minister of the Department of Finance on June 12, 2006. Mr. Wright provides advice on economic and fiscal policy to the Department and the Minister of Finance.

Prior to his appointment as Deputy Minister of Finance Mr. Wright was, since March 30, 2005, President and Chief Executive Officer of Export Development Canada.

Mr. Wright began his federal government career in 1975 as an economist with the Department of External Affairs. Over the next 12 years he held various positions at the National Energy Board, the Department of Energy, Mines and Resources, and the Department of Finance. In 1987, he was appointed Assistant Secretary to the Cabinet (Priorities and Planning) at the Privy Council Office, during which time he was in charge of the expenditure review committee to reduce government expenditures.

Beginning in 1989, Mr. Wright held a number of positions at the Deputy Minister level, including:

• Deputy Secretary to the Cabinet (Plans);
• Deputy Minister of Agriculture and Agri-Food Canada;
• High Commissioner for Canada to New Zealand;
• Deputy Minister of Revenue Canada;
• Commissioner of the Canada Customs and Revenue Agency;
• Deputy Minister to the Deputy Prime Minister;
• Associate Secretary to the Cabinet, Privy Council Office; and
• National Security Advisor to the Prime Minister of Canada.

Mr. Wright was presented with the Outstanding Achievement Award of the Public Service of Canada on June 30, 2005, by the Prime Minister of Canada.

Mr. Wright was born in 1951 in Northwestern Ontario. He has a BA in Economics from the University of Western Ontario (1973) and an MA in Economics from the University of Manitoba (1975).

Julie Dickson(Ex Officio Director)

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

Ms. Dickson brings to the role more than 25 years’ experience in the financial services field. She joined OSFI on April 1, 1999, and was Assistant Superintendent, Regulation Sector, from January 1, 2000, to June 2006.

In her role as Deputy Superintendent, she acts on behalf of the Superintendent in selected areas, including overseeing enterprise-wide risk management and business planning. In addition, she heads the Regulation Sector, where she is responsible for capital and accounting issues; actuarial policies and reviews; regulatory approvals and compliance, including anti-money laundering; guidelines, regulations and interpretations; international assistance and liaison; and pension plan supervision.

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. She was also a Special Advisor on financial institutions in the Privy Council Office, which serves the Prime Minister and federal cabinet.

In the private sector, Ms. Dickson served as Group Leader of Financial Institutions Practice for a national consulting firm from 1995 to 1998.

She is a member of the Accounting Standards Oversight Council of Canada, and was a member of the Basel Committee on Banking Supervision from 2002 to 2006. She also represents OSFI on the Financial Stability Forum and the Integrated Supervisors group.

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

Ms. Dickson lives in Ottawa with her husband and two teenaged boys.

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

Assistant Superintendent, Supervision Sector

Ted Price was appointed Assistant Superintendent, Supervision Sector, of the Office of the Superintendent of Financial Institutions (OSFI) in June 2006.

Since joining OSFI in 2001, Mr. Price has served in several senior management roles, most recently as Senior Director, Financial Conglomerates Group, where he directed supervision and risk assessment of large banks and insurance companies. He also led the implementation of the Basel II Capital Accord Framework in Canada. Mr. Price began his career at OSFI as Senior Director, Capital Markets Division.

Prior to joining OSFI, Mr. Price was a senior executive with Prescient Markets, Inc., an Internet-based investment bank, from 2000 to 2001.

Between 1983 and 1999, Mr. Price held various positions in government finance, fixed income and capital markets product development at ScotiaCapital, Inc. In 1995, he was appointed to the Executive Committee and relocated to New York to direct the firm’s U.S. business. Ted began his career in bond trading and pension fund asset management.

Mr. Price is a member of the Board of Directors, Providence Healthcare in Toronto. He holds a Master of Arts degree in Economics from the University of Toronto and a Bachelor of Commerce (Honours) degree from Queen’s University.

Jim Callon(Ex Officio Director)

Jim Callon is the current Acting Commissioner of the Financial Consumer Agency of Canada (FCAC).

Initially, Mr. Callon started his career with a major bank. He subsequently joined the public service with the Government of Alberta in 1980 where he managed labour relations issues involving the private and para-public sectors. While in Alberta, Mr. Callon continued his interest in the financial sector by being elected to the Board of Directors of the Credit Union for Provincial Government Employees and was appointed Vice Chair.

In 1984, Mr. Callon joined the federal government in Winnipeg and later moved to Ottawa while working with the Canada Labour Relations Board. At the Board he held a variety of management positions including the Director of Policy and Program Management, the Director General of Corporate Services and the Executive Director of the Board—a position he held until 1998.

Mr. Callon has since assumed a series of executive assignments with the federal government, including an assignment with the Task Force on the Future of the Canadian Financial Services Sector, an assignment with the Department of Finance in the area of policy development and a further assignment to establish the Financial Consumer Agency of Canada. While at the Department of Finance, Mr. Callon worked to develop the Government's policy response to the Task Force on the Future of the Canadian Financial Services Sector, making recommendations in the area of consumer protection and business powers.

Mr. Callon has worked in the capacity of Deputy Commissioner with the FCAC since its inception in 2001.

In December 2002, Mr. Callon was honoured with the "Head of the Public Service Award" in "valuing and supporting people" category.

Pierre Duguay (Alternate)

Pierre Duguay was appointed Deputy Governor of the Bank of Canada in January 2000. In this capacity, he is responsible for issues related to financial stability and financial institutions, and the issuance of bank notes. The Department of Monetary and Financial Analysis and the Department of Banking Operations report to him. As a member of the Bank's Governing Council and the Executive Management Committee, he shares responsibility for decisions with respect to monetary policy and the management of the business of the Bank.

Mr. Duguay has been a member of the Board of Directors of CIRANO since 2002, a member of the Statistics Canada Price Measurement Advisory Committee (PMAC) since 1999, a member of the Advisory Committee on Services Statistics (ACSS) since 2004, and a member of the Advisory Committee on National Accounts from 1994 to 1999.

Born in Verdun, Québec, Mr. Duguay received a Bachelor of Economics degree from the Université du Québec à Montréal in 1971 and an MA in Economics from the Université de Montréal in 1974.

Mr. Duguay joined the Bank in 1973 as an Economic Analyst in the Research Department. In 1978, he moved to the Department of Monetary and Financial Analysis as Senior Economist. He was then appointed Deputy Chief of the Research Department in 1984, Chief of the Department of Monetary and Financial Analysis in 1987, and Chief of the Research Department in 1991. Mr. Duguay was made an Adviser to the Governor in 1992.

Serge Dupont (Alternate)

Serge Dupont was appointed Assistant Deputy Minister, Financial Sector Policy Branch, on June 30, 2006. He joined the Branch as General Director in April 2005. In his position, he advises the Deputy Minister and the Minister of Finance on the full range of financial sector policy issues, including the regulatory framework for Canada’s financial sector and the management of the Government of Canada’s financial assets and liabilities. In so doing, he interacts closely with counterparts in other federal agencies including the Bank of Canada, the Office of the Superintendent of Financial Institutions, the Financial Consumer Agency of Canada and the Financial Transactions and Reports Analysis Centre of Canada.

Since joining the federal public service in 1983, Mr. Dupont has held positions covering a wide range of economic and financial policy issues, including energy policy, the privatization of federal Crown corporations, the introduction of the federal GST, Canada’s participation in the G7, corporate governance, and intellectual property policy. Before joining Financial Sector Policy, he was Director General Tax Policy where he worked on the development of tax policy proposals for four consecutive federal budgets. He served as Finance Counsellor in Canada’s mission in Paris, advisor to the Minister of Finance, and Corporate Secretary and special advisor to the Deputy Minister at Industry Canada. He holds a B.Sc. (University of Ottawa) and M.A.Sc. (University of Waterloo) in Management Sciences and a Diplôme international d’administration publique from l’École nationale d’administration (Paris).