Change at BoC
The Bank of Canada has appointed David Beers, currently global head of sovereign and international public finance with New York-based Standard & Poor’s Financial Services LLC, to an 18-month term as special advisor to BoC governor Mark Carney, effective Feb. 1, 2012. Responsible for S&P’s downgrade of the U.S. debt, Beers will join the BoC after 21 years with S&P. An expert on the credit ratings of sovereign, regional and local governments and government-related entities, Beers will help bring an independent perspective to the BoC. He will join the BoC’s monetary policy review committee, which advises on monetary policy issues. He will also join the financial system review committee, which focuses on economic trends locally and abroad. Beers will replace Tim Hodgson, who has been special advisor to Carney since September 2010.
Sloan at Centennial
David Sloan, senior vice president and ombudsman of Toronto-based Toronto-Dominion Bank, has been appointed the first executive-in-residence at Toronto-based Centennial College’s School of Business. Sloan will help Centennial College develop its course materials and business-related case studies, as well as provide in-class lectures to college and high-school students. Prior to this appointment, Sloan had been vice chairman of the college’s board of governors. Sloan has been with TD since 1980, at which he has held several senior roles, including senior vice president and CFO of TD Canada Trust, the bank’s retail banking arm.
Rudd joins IIROC
The Investment Industry Regulatory Organization of Canada has appointed Wendy Rudd as its senior vice president of market regulation and policy. Brought on board for her first-hand experience in managing alternative trading systems, Rudd will oversee IIROC’s market regulation program, which deals with the regulation of equities trading. Prior to joining IIROC, Rudd was CEO of Toronto-based TriAct Canada Marketplace LP, which owns and operates MATCH Now, an ATS that allows dealers to trade Canadian-listed equities anonymously. She also held senior management roles with Toronto-based ITG Canada Corp., a brokerage that partners with asset managers to provide research and trading services.
McCutcheon remembered
Toronto-based Guardian Capital Group Ltd. announced the passing of James McCutcheon, chairman of Guardian Capital Group’s board since August 2011. Prior to becoming chairman, McCutcheon served on Guardian’s board for 14 years. McCutcheon spent the bulk of his career as a partner in his own law firm, Shibley Righton & McCutcheon LLP in Toronto, now Shibley Righton LLP. He was also in-house counsel with McCarthy Tétrault LLP from 1990 to December 2005. McCutcheon also held a number of board positions, including chairman at Kingston, Ont.-based Empire Life Insurance Co.
Compiled by Olivia Glauberzon
(oglauberzon@investmentexecutive.com).