Minister of Finance Ralph Goodale today nominated Guy Saint-Pierre to be appointed as president and chief executive officer of the Canada Deposit Insurance Corp.

Saint-Pierre, who is currently CDIC’s executive vice-president and chief operating officer, has been with the corporation for the past 18 years. The recommendation will be referred to the House of Commons Standing Committee on Finance for review.

“I am pleased to propose Mr. Saint-Pierre for this important position,” Goodale said. “His experience includes a solid understanding and knowledge of the Canadian financial services sector and its regulatory environment, as well as a strong commitment to consumer protection.”

A native of Québec, Saint-Pierre was educated in Ottawa, where he resides. He holds chartered accountant and certified management accountant designations.

CDIC is a federal Crown corporation that provides deposit insurance against the loss of deposits with its member banks, trust companies and loan companies in the event of their failure.