Ottawa, January 23, 2009
2009-010

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

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The Honourable Jim Flaherty, Minister of Finance, today announced the appointment of Les Cannam to the Board of Directors of the Canada Deposit Insurance Corporation (CDIC).

"With his extensive professional and public experience, Mr. Cannam is an ideal choice for an organization that is essential to a strong financial system in Canada," said Minister Flaherty.

Mr. Les Cannam is currently a partner with Meyers Norris Penny in Saskatoon, the seventh largest chartered accountancy and advisory firm in Canada. He has over 35 years of experience in the accounting field and has sat on a number of boards, including the Canadian Institute of Chartered Accountants Board of Governors.

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.

_________________________________
For further information, media may contact:

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

Les Cannam, FCA

Mr. Cannam is a partner with the chartered accountancy and advisory firm Meyers Norris Penny in Saskatoon. Over his 35 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.