The Alberta Securities Commission has tapped Bill Rice, managing partner at Bennett Jones LLP, as new chair and CEO of the ASC.

Rice starts a five-year term on July 18. He will replace interim chair, Peter Valentine, who was appointed while the search for a permanent chairman was conducted.

Prior to joining the ASC, Rice was the managing partner of Bennett Jones LLP, the largest law firm in Western Canada. Areas of his practice included mergers and acquisitions, project finance, securities, and corporate governance. He has been the chair or member of the board of directors of numerous public and private companies. Rice was called to the Alberta Bar in 1974 and has been with Bennett Jones his entire career.

“The ASC is a solid organization, respected nationally, with strong professional staff at all levels. I intend to build on its existing strengths and from the transitional issues which have been confronted in recent months,” said Rice, in a release. “Alberta hosts the second largest capital market in the country and I look forward to working with businesses and investors, in a new capacity, to increase confidence in this marketplace.”

“Mr. Rice comes to the ASC with over 25 years experience dealing with securities law and considerable experience dealing with regulated agencies,” said Shirley McClellan, Deputy Premier and Alberta Minister of Finance. “He has a strong professional background and is well suited to lead the ASC. I look forward to working with him.”

McClellan also thanked Valentine for his service. “Peter stepped up at a very important time for the commission. I am confident his actions and efforts moved the organization forward during his brief tenure,” she said.

Rice was born in Amherst, Nova Scotia and raised in Montreal. He is a graduate of Bishop’s University where he received his Bachelor of Arts Degree with Honours in 1968. He received his Bachelor of Laws from Osgoode Hall Law School in 1972.

He is a current member of the University of Calgary Faculty of Law Dean’s Community Council and the Co-Chair of the bi-annual Pipestone Conference for leading securities counsel and Canadian regulators.