Minister of Finance Announces Appointment of Chairperson of the Canada Deposit Insurance Corporation Board of Directors
June 16, 2016 – Ottawa, Ontario – Department of Finance Canada
Minister of Finance Bill Morneau today announced the appointment of Robert Sanderson as Chairperson of the Canada Deposit Insurance Corporation (CDIC).
Mr. Sanderson is the Managing Director of Ithaca House. He has over 40 years of experience in the financial sector and is a member of numerous industry groups including: the Chartered Professional Accountants of Canada, the American Bankruptcy Institute and the International Association of Insurance Receivers. Most recently he has served as a member of CDIC’s Advisory Panel on Resolution.
In recognition of the fundamental role played by the more than 1,500 Canadians currently serving on Crown corporations, agencies, boards, commissions and tribunals across the country, the Government of Canada will soon be implementing a new approach for Governor in Council appointments.
The new, rigorous approach to appointments is based on the principles of open, transparent and merit-based selection processes that will support Ministers in making appointment recommendations for positions in their portfolio. The new approach will result in the recommendation of high-quality candidates who truly reflect Canada’s diversity in terms of gender parity, more Indigenous Canadians and minority groups in positions of leadership.
Until the new process is fully implemented, appointments such as this one will only be made to positions that are essential for the continuity of government business and to ensure that services continue to be delivered to Canadians without interruption.
Mr. Sanderson’s appointment is for a term of one year or until such time as a new Chairperson is appointed, whichever comes first.
“I congratulate Robert Sanderson on his appointment. His extensive background in financial services ensures this organization will continue to benefit from strong leadership, and his experience, judgement and guidance serve to further strengthen Canada’s financial regulatory framework.”
- Bill Morneau, Minister of Finance
- CDIC is a federal Crown corporation created by Parliament.
- It collaborates with other federal agencies to help ensure that Canada’s financial system stays healthy.
- CDIC insures Canadians’ savings against the failure of a bank or other CDIC member institution.
Office of the Minister of Finance
Department of Finance Canada