Ottawa, April 28, 2010

Archived - Minister Flaherty Announces Appointment of New CDIC President and Chief Executive Officer

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The Honourable Jim Flaherty, Minister of Finance, today announced the appointment of Michèle Bourque as President and Chief Executive Officer of the Canada Deposit Insurance Corporation (CDIC). The appointment will be effective as of May 9, 2010.

“Ms. Bourque brings extensive knowledge of deposit insurance and risk assessment to her new position,” said Minister Flaherty. “With her expertise in the financial services sector and her long commitment to the protection of consumers, Ms. Bourque will ensure that Canada’s deposit insurance system continues to fulfill its important role effectively and efficiently.”

Ms. Bourque, who has been with CDIC for 18 years, currently serves as the corporation’s Executive Vice-President, Insurance and Risk Assessment. She has been involved in a number of key areas within CDIC, including the assessment, monitoring and resolution of member institutions.

A native of Montréal, Ms. Bourque holds a Master of Business Administration from the University of Ottawa, as well as a Master of Science in Economics and a Bachelor of Science in Economics from the Université de Montréal.

The Minister also thanked Guy Saint-Pierre for over 20 years of public service at CDIC, including the past 5 years as President and Chief Executive Officer.

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.

For further information, media may contact:

Annette Robertson
Press Secretary
Office of the Minister of Finance

David Barnabe
Media Relations
Department of Finance

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