Government Announces Interim President and Chief Executive Officer of Canada Deposit Insurance Corporation

From: Department of Finance Canada

Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Leah Anderson as the interim President and Chief Executive Officer of the Canada Deposit Insurance Corporation (CDIC). Ms. Anderson succeeds Peter Routledge, who recently vacated the post to serve as Superintendent of Financial Institutions in June 2021. Ms. Anderson will serve as interim President and CEO for up to two years, beginning August 16th, while the competitive, merit-based appointment process is completed.

Ms. Anderson will leave her current role as Assistant Deputy Minister of the Financial Sector Policy Branch at the Department of Finance Canada where she has led on policy related to the financial sector and financial system stability. She has also served as an Associate Assistant Deputy Minister providing advice on economic development policy and corporate finance, and has worked as a consultant to the financial sector.

Quotes

“I know Leah Anderson will bring strong leadership and financial sector experience to the Canada Deposit Insurance Corporation during this transition. Her expertise will play an important role in safeguarding the strength of Canada’s financial institutions, and ensuring Canadians’ hard-earned savings are protected.”

-The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

Quick facts

  • CDIC is a federal Crown corporation that contributes to the stability of the Canadian financial system by providing deposit insurance to depositors at Canadian commercial banks and savings institutions. CDIC is also the resolution authority for its member institutions.

  • Budget 2018 amended the Canada Deposit Insurance Corporation Act to modernize and enhance the Canadian deposit insurance framework to ensure it continues to meet its objectives. These changes modernize the scope of deposit insurance coverage to better reflect products currently offered in the market, address the complexity of trust deposits, help protect depositors, improve understanding of insurance coverage, and ultimately better support financial sector stability in Canada.

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