OTTAWA - July 19, 2016 - The Canada Deposit Insurance Corporation (CDIC) is pleased to announce that Mr. David Walker, most recently CDIC's Managing Director, Executive Office and International Affairs, has been appointed the Secretary General of the International Association of Deposit Insurers (IADI).
Mr. Walker has over 20 years of experience with CDIC, having progressed through increasingly senior roles and working to enhance Canada's leadership in deposit insurance.
CDIC was instrumental to the foundation of IADI and played a key role in the working groups which led to its creation in 2002. "David brings deep knowledge to the international deposit insurance community and IADI is very fortunate to have him", said Michèle Bourque, President and CEO of CDIC. "With David at the helm, IADI will continue to enhance support for its members and promote more effective deposit insurance systems around the world", she added.
Mr. Walker's appointment is a continuation of CDIC's international leadership, particularly in the wake of the 2008 financial crisis.
IADI is a forum for deposit insurers from around the world to gather to share knowledge and expertise. Its mission is to contribute to the enhancement of deposit insurance effectiveness by promoting guidance and international cooperation.
"CDIC has always provided strong international leadership on deposit insurance," said David Walker. "I am honoured to have the opportunity to play my part in this proud tradition, and join the leading international organization of deposit insurance providers. Working with the excellent team at IADI, I am confident that we will continue to help our members find innovative solutions to the deposit insurance challenges of the 21st Century."
CDIC is a federal Crown corporation that contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of eligible deposits at member institutions in the event of failure. Eligible deposits are automatically covered to a limit of $100,000 per insured category at each member institution. CDIC members include banks, federally regulated credit unions as well as loan and trust companies and associations governed by the Cooperative Credit Associations Act that take deposits. CDIC is funded by premiums paid by member institutions and does not receive public funds to operate.
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