Biographies of Members of the Wise Persons’ Committee

Michael Phelps (Chair)
Chairman of Dornoch Capital Inc., a private investment company, and former Chairman and Chief Executive Officer of Westcoast Energy Inc. Mr. Phelps holds senior positions and directorships with a number of energy companies, including board member of Duke Energy Corporation. Mr. Phelps is a director of the Canadian Imperial Bank of Commerce, Asia Pacific Foundation of Canada, Canadian Pacific Railway Company and the Canfor Corporation. He is a Distinguished University Fellow and Adjunct Professor, Faculty of Commerce, the University of British Columbia. Earlier in his career, Mr. Phelps was a practising lawyer in Manitoba and a special advisor to the Minister of Energy, Mines and Resources of Canada. Mr. Phelps was appointed an Officer of the Order of Canada in 2001. He received a law degree from the University of Manitoba in 1970 and a Master of Laws from the London School of Economics in 1971. Mr. Phelps can be reached at (604) 661-3303.

Harold MacKay (Vice-Chair)
Senior partner in the Regina-based law firm of MacPherson Leslie & Tyerman LLP. Mr. MacKay served as the chair of the Task Force on the Future of the Canadian Financial Services Sector from 1997 to 1998, and has advised the governments of Saskatchewan and Canada on various public policy issues, including post-secondary education and the governance of Crown corporations. He also served as Lead Director of the Bank of Canada and as Chairman and Director of the Federal Business Development Bank. Mr. MacKay is currently the Chair of the Saskatchewan Institute of Public Policy and the Clifford Clark Visiting Economist with the federal Department of Finance. He was named an Officer of the Order of Canada in November 2002. Mr. MacKay earned his law degree from Dalhousie University in 1963.

Thomas Allen
A Senior Partner, Ogilvy Renault, Chairman of the Accounting Standards Oversight Council of Canada, and a member of the Advisory Board of the Office of the Superintendent of Financial Institutions. Mr. Allen is Chairman of Westwind Capital Corporation, parent of an independent investment dealer, and is a former Vice-Chairman of Gordon Capital Corporation. Until recently he served for many years as a public director of the Investment Dealers Association of Canada (IDA). Mr. Allen is director of a number of public corporations. He earned a law degree from the University of Western Ontario in 1963.

Pierre Brunet:
Chair, Canadian Institute of Chartered Accountants. Prior to his retirement in 2001, Mr. Brunet served as Co-Chair and Co-Chief Executive Officer of National Bank Financial and as Chair of the IDA from 1984 to 1985. Mr. Brunet currently serves on the Board of Directors of a number of companies and cultural and educational organizations and was named an Officer of the Order of Canada in 1999. He is a graduate of the École des hautes études commerciales and qualified as a chartered accountant in 1964.

Wendy Dobson
Director, Institute for International Business, and Professor at the Rotman School of Management, University of Toronto. Ms. Dobson is a former President of the C.D. Howe Institute, an economic policy research organization, and was an Associate Deputy Minister in the federal Department of Finance from 1987 to 1989. She currently serves on the boards of a number of companies in the life sciences, financial and transportation industries. Ms. Dobson obtained her PhD in Economics from Princeton University in 1979.

Edwin C. Harris
Counsel with the Halifax office of the law firm Patterson Palmer. Mr. Harris is a member of the editorial board of the Canadian Tax Journal. He served as Chair of the Canadian Tax Foundation from 1992 to 1993 and was Chairman of the Accounting Research Advisory Board of the Canadian Institute of Chartered Accountants from 1986 to 1989. He has also taught corporate and tax law at the Dalhousie Law School. Mr. Harris earned a Commerce degree from Dalhousie University in 1954, a law degree from Dalhousie University in 1958 and a Master of Laws from Harvard University in 1959.

Michael Tims
Chairman, Peters & Co. Limited, a Calgary-based investment firm engaged in securities brokerage, corporate finance and mergers and acquisitions. He served as Chairman of the Canadian Investor Protection Fund from 1998 to 2000, and as Chairman of the IDA from 1995 to 1996. He is also currently the Chairman of West Island College, a bilingual private school in Calgary. Mr. Tims has previously taught Finance and Business Policy at the University of Calgary and remains active with the university and other organizations. He graduated from the University of Calgary in 1976 and holds an MBA degree from Harvard University.