2008-063

Archived - Minister of Finance Announces Appointment of New Directors to Canada Deposit Insurance Corporation

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The Honourable Jim Flaherty, Minister of Finance, today announced the appointment of John S. McFarlane, Q.C., and Éric Pronovost, CA, CIRP, Licensed Trustee, to the Board of Directors of Canada Deposit Insurance Corporation (CDIC).

"I am very pleased to appoint two exceptional people to the Board of CDIC," said Minister Flaherty. "With their extensive professional and public experience, both Mr. McFarlane and Mr. Pronovost are ideal choices for an organization that is essential to a strong financial system in Canada."

Mr. McFarlane is a partner with the Halifax law firm Stewart McKelvey. His experience includes commercial litigation, corporate and commercial law, bankruptcy and insolvency law, and property and real estate development.

Mr. Pronovost is the Vice President of the firm Belhumeur Pronovost, Trustees in Bankruptcy, in Trois-Rivières, Quebec, where his professional expertise and leadership have been well proven in assisting in the restructuring and recovery of companies facing financial difficulties.

CDIC is a federal Crown corporation established in 1967 to provide deposit insurance against the loss, in whole or in part, of deposits with member institutions in the event of their failure. Member institutions include banks, trust companies and loan companies.

Biographical notes are attached.

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Chisholm Pothier
Press Secretary
Office of the Minister of Finance
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080

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Biographical Notes

John S. McFarlane, Q.C.

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, CA, CIRP, Licensed Trustee

Mr. Pronovost is currently the Vice President of the Trustee in Bankruptcy firm Belhumeur Pronovost in Trois-Rivières, Quebec. He 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.