Les Cannam is joining the board of directors of the Canada Deposit Insurance Corp., federal finance minister Jim Flaherty announced Friday.

“With his extensive professional and public experience, Mr. Cannam is an ideal choice for an organization that is essential to a strong financial system in Canada,” said Flaherty.

Cannam is currently a partner with Meyers Norris Penny in Saskatoon, Sask., the seventh largest chartered accountancy and advisory firm in Canada. He has over 35 years of experience in the accounting field and has sat on a number of boards, including the Canadian Institute of Chartered Accountants Board of Governors.

CDIC is a federal Crown corporation established in 1967 to provide deposit insurance against the loss, in whole or in part, of deposits with member institutions in the event of their failure. Member institutions include banks, trust companies and loan companies.

IE