Minister Morneau Announces Appointments to the Canada Deposit Insurance Corporation Board of Directors
July 4, 2018 – Ottawa, Ontario – Department of Finance Canada
The Government of Canada is committed to appointing highly qualified candidates able to best serve the interests of Canadians, through open, transparent and merit-based selection processes for all Governor-in-Council appointments.
In keeping with this commitment, Finance Minister Bill Morneau today announced the appointments of Linda Caty, Johanne Charbonneau, David Dominy and Wendy Millar to the Board of Directors of the Canada Deposit Insurance Corporation (CDIC).
Linda Caty served as Vice President and General Secretary of National Bank of Canada for more than 17 years. In addition to her career as a senior executive, she has served on the boards of not-for-profit organizations such as the National Theatre School of Canada and the Centre des auteurs dramatiques.
Johanne Charbonneau served in leadership roles on several boards and has more than 35 years of experience in the financial services, regulatory, international development and media sectors. She was also Vice-President and Chief Financial Officer (CFO) of CBC/Radio-Canada, and Vice-President, Finance and CFO of CDIC.
David Dominy is currently Chief Executive Officer of Firma Foreign Exchange Corporation and has extensive experience in financial services, oil and gas services, production and transportation. Earlier in his career he worked at TD Bank in a variety of corporate, commercial and retail banking roles.
Wendy Millar currently serves on the University of Guelph's Board of Trustees, following a 33-year career with BMO Financial Group. Most recently she was BMO's Head, Retail and Business Banking Credit and Chief Risk Officer, Personal and Commercial Banking, after holding various other senior executive positions. She was previously on the Board of the Children's Aid Foundation, Interac, and MasterCard International Debit, as well as on a number of subsidiary and joint venture boards for BMO.
"The Canada Deposit Insurance Corporation plays an important role by insuring the savings of hard-working Canadians, and by collaborating with other federal agencies to ensure that Canada's financial system stays healthy. The four appointees announced today bring extensive private and public sector experience to their new roles, and together they will help further strengthen Canada's financial regulatory framework. I congratulate them on their appointments."
- Bill Morneau, Minister of Finance
- The Canada Deposit Insurance Corporation (CDIC), a federal Crown corporation, contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of eligible deposits at member institutions.
- The CDIC Board of Directors includes a Chairperson, five private sector directors who bring practical experience from the business world, and five public sector directors who provide knowledge of the financial, supervisory and regulatory environment in which CDIC operates.
- Budget 2018 amended the Canada Deposit Insurance Corporation Act to modernize and enhance the Canadian deposit insurance framework to ensure it continues to meet its objectives. These changes modernize the scope of deposit insurance coverage to better reflect products currently offered in the market, address the complexity of trust deposits, help protect depositors, improve understanding of insurance coverage, and ultimately better support financial sector stability in Canada.
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Office of the Minister of Finance
Department of Finance Canada
Linda Caty is a lawyer and administrator who specializes in good governance, ethics, risk management and organizational development. She possesses 17 years of experience as Vice-President and Corporate Secretary for National Bank of Canada, has served as Corporate Secretary for BCE and Bell Canada, as well as for Meloche Monnex Inc., and has held a number of other key positions in organizations across various sectors in Canadian industry.
Since 2007, Ms. Caty has also dedicated herself to the École nationale de théatre du Canada, as a member of its Boards of Directors and Governors and as the Chair of its Strategic Planning Committee. She is a Director of the Ordre des technologues médicaux du Québec and has also served as Chair of the Board of Directors of the Fondation du Centre des auteurs dramatiques from 2009 to 2013.
She holds a Bachelor of Laws and a Diploma in Corporate Law from the Université de Montréal, and is a member of the Quebec Bar.
Johanne Charbonneau is a senior financial executive with more than 35 years of experience. Her career has spanned the private sector, government and Crown corporations. She was Vice-President and CFO of CBC/Radio-Canada from 2001 to 2009. She previously served as the Vice-President and CFO for the final six years of a 15-year tenure at CDIC.
More recently, Ms. Charbonneau devoted her time and expertise to the growth and well-being of various organizations through Board governance. She is a former member of the Board of CS Alterna Bank (Chairs the Audit Committee) and its parent, Alterna Savings & Credit Union.
She is the past Chair of the Chartered Professional Accountants of Ontario (CPA Ontario) and is also on the Board of two other not-for-profits. Past Board engagements include the Co-operators Group and Central 1 Credit Union as well as the Royal Ottawa Mental Health Centre.
She is an FCPA, FCGA and has an MBA. She recently obtained the C. Dir designation for Chartered Directors at McMaster University.
David Dominy joined Firma Foreign Exchange Corporation in June 2014 as CEO, bringing significant financial industry expertise and experience to the company. He spent 15 years in a variety of senior banking and investment banking roles with a Canadian chartered bank, as well as eight years as CEO of a private equity group in Western Canada. As CEO of a provincial regulatory body, he was directly involved in the implementation of new liquidity and capital standards for credit unions.
Mr. Dominy's extensive board career includes leadership roles on not-for-profit, private, public and Crown corporation boards. He is currently Chair of the Board and Chair Audit of Chandos Construction LP; Chair 3D Capital Inc., Director University of Winnipeg Foundation and an instructor in the Alberta School of Business' governance program for small and medium-sized enterprises.
He is an active contributor to a number of local charities, most recently as Chair of the Stollery Children's Hospital Foundation in Edmonton.
He holds a Masters of Management from the J.L. Kellogg School of Business in Chicago, a BA in mathematics from the University of Winnipeg, the Canadian Securities Course and the ICD.D designation from the Institute of Corporate Directors of Canada.
Wendy Millar has held a number of executive leadership roles at BMO Financial Group across the Personal and Commercial business and the Enterprise Risk and Portfolio Management group. Her experience includes leading teams in retail and commercial product management and credit risk, in addition to managing BMO's high-risk consumer and commercial accounts.
She was previously on the Board of the Children's Aid Foundation, Interac, MasterCard International Debit and held various Board positions on several subsidiaries and strategic alliances for BMO. She has been twice recognized as one of Canada's Top 100 Powerful Women by Women's Executive Network.
Ms. Millar is a graduate of the University of Guelph's BA and MA Economics programs.