The Toronto-based Investment Funds Institute of Canada (IFIC) has appointed Paul Bourque as its new president and CEO, replacing the longtime head of the organization, Joanne De Laurentiis.
Bourque, who has spent the past six years as executive director of the B.C. Securities Commission (BCSC), joins IFIC on June 27 and will begin making the transition into his new role, which he officially begins on July 18.
“Paul has an exceptional track record in the financial services industry, particularly in regulatory matters,” says John Adams, chairman of the board of directors at IFIC, in a statement released Monday. “His experience and knowledge will be great assets in leading our industry’s ongoing efforts to work collaboratively with our regulators and policy makers.”
In addition to leading IFIC, he will sit on IFIC’s board of directors and be chairman of the board of the Mississauga, Ont.-based IFSE Institute, IFIC’s wholly-owned financial services education arm.
Bourque’s regulatory expertise is extensive. Prior to his role at BCSC, he was a partner with Toronto-based Deloitte LLP, at which he led the firm’s national securities and regulatory investigation practice. He has also held senior regulatory positions with the Investment Industry Regulatory Organization of Canada and the Ontario Securities Commission, both based in Toronto.
In addition, Bourque has also held various roles within Alberta’s Department of Justice, including those of deputy minister of justice and deputy attorney general. He is a member of the bars of Ontario, Alberta and B.C.
“I am honoured to have been selected by the board to lead IFIC during such a pivotal time,” says Bourque in a statement. “The industry must implement substantial regulatory reforms and, at the same time, engage effectively with stakeholders to respond to new significant policy and regulatory issues. I look forward to working with IFIC’s dedicated board, industry volunteers, and talented staff to advance IFIC’s mandate of advocating on behalf of the industry and aligning industry and investor interests.”
Bourque succeeds the retiring DeLaurentiis, who has held the position as IFIC’s president and CEO since January 2006.
“On behalf of the board, I want to extend our deepest appreciation to Joanne for her vision, hard work and commitment to elevating IFIC into a professional, member-responsive, and respected trade association,” says Adams. “It is a testament to the strides she has made in leading IFIC that we have been able to attract such a strong successor. She leaves us much better than she found us.”
Photo: CNW/IFIC