David Wilson spent more than three decades navigating the fast-paced world of Canadian finance before taking on one of its most challenging public service roles: chair of the Ontario Securities Commission (OSC).
There, he became a driving force for modernizing Canada's capital markets, advocating for stronger investor protection and a unified national securities framework.
For many years, he has also shared his expertise with the University of Toronto in a variety of volunteer capacities.
Today, in recognition of his contributions to finance and public service, and for his outstanding commitment to the university, Wilson will receive a Doctor of Laws, honoris causa, from U of T.
Born and raised in Toronto, Wilson earned a bachelor of commerce degree from U of T in 1968, followed by an MBA from York University in 1970.
He worked briefly as an analyst, then, in 1971, joined the corporate finance department of McLeod Young Weir, a prominent Canadian investment firm. When the Bank of Nova Scotia acquired the company in 1988 - renaming it ScotiaMcLeod - Wilson stayed on, becoming president and deputy chief executive officer five years later.
By the time he left Scotiabank in 2005 to lead the OSC, he was vice chair responsible for global wholesale operations - the side of banking that serves large clients such as corporations, governments and institutional investors.
During his five-year term, Wilson set out to modernize the OSC's operations, improve regulatory enforcement and enhance investor confidence. Drawing on his extensive private-sector experience, he introduced a performance-based approach, setting clear organizational goals and tracking the commission's progress against them. He also led the OSC through the turmoil of the 2009 financial crisis and its immediate aftermath.
Early in his mandate, Wilson also articulated a vision for the OSC to be "fair, efficient and balanced," striving to reduce unnecessary regulatory burdens while maintaining strong enforcement. As he told Investment Executive in 2006 , "Balanced means not too much, not suffocating. But certainly regulation has to be part of the mix."
In a 2007 address to a securities conference in Toronto , Wilson urged the industry to treat regulatory compliance as a priority, warning that even small breaches could undermine public trust: "Compliance is key to the effectiveness of securities regulation. When there is non-compliance, swift enforcement must follow," he said.
He was also a proponent of creating a single national securities regulator to replace Canada's fragmented provincial system. "While not a silver bullet, there is no doubt that a common securities regulator would improve enforcement in Canada," he said in a 2008 speech to the Empire Club in Toronto .
Beyond his financial career, Wilson has been a champion of community service through his involvement with several community organizations, including the United Way of Greater Toronto, the National Ballet of Canada, the Art Gallery of Ontario and the Centre for Addiction and Mental Health (CAMH), where he served as a member of the board of trustees for nine years and as chair of the board for three years. He has also been a member of the board of directors of the CAMH Foundation since 2017. Wilson also participated on the governing bodies of several corporate boards, including Rogers Communications, the Greater Toronto Airports Authority and Cidel Bank of Canada.
His volunteer contributions to U of T have also been significant. A member of U of T's Governing Council for nine years, he chaired the business board for three years and was chair of the presidential search committee that recommended the appointment of President Meric Gertler. He also served as a member of the board of directors of the University of Toronto Press. Currently, he serves as co-chair of the campaign cabinet for Victoria University in the University of Toronto as part of U of T's Defy Gravity campaign.
"All those on this cabinet benefitted both academically and professionally from our time at Victoria, and we established life-long friendships at the University," Wilson told Victoria College . "We are committed to ensuring that generations of students will continue to have that experience.
"My parents met on the Victoria campus in the beautiful Emmanuel Library and whenever I am on campus, I think of them and everything that Vic has brought to my family."
Wilson points to the Vic One program as an example of the "exceptionally high level of academic offerings available at Vic. Superior professors, great students working together to create society's future leaders."
Wilson's philanthropy has supported causes ranging from mental health and education to the arts. His service has earned him several honours, including U of T's Arbor Award and York University's Outstanding Leadership Award.
