News releases

CDIC congratulates Peter Routledge on his appointment to OSFI

News releases

OTTAWA – June 24, 2021 – The Canada Deposit Insurance Corporation (CDIC) today congratulated President and Chief Executive Officer Peter Routledge on his appointment as Superintendent of Financial Institutions.

“Peter is a transformative leader, and the Board and senior executive team remain committed to his vision for CDIC,” said Robert Sanderson, Chair of the CDIC Board of Directors.

“Furthermore, CDIC will continue to benefit from Peter’s wisdom and experience, since as Superintendent he will become an ex officio member of our Board.”

CDIC remains committed to the priorities set out in its corporate plan (PDF, 3 MB), including readiness to respond in a crisis, enhancing organizational resiliency, and innovating to meet depositor expectations and the corporation will continue to honour its promises and commitments to Canadians.

During the appointment process for a new President and CEO, the corporation will be guided by its Board and senior executive team.

CDIC is a federal Crown corporation established in 1967 to protect the savings of Canadians, and we contribute to financial stability by safeguarding close to $1 trillion in deposits at more than 80 member institutions. As resolution authority, we are responsible for handling the failure of any of our members, from the smallest to the largest. Our members include banks, federally regulated credit unions as well as loan and trust companies. We are funded by premiums paid by member institutions and do not receive public funds to operate. We have resolved 43 member failures affecting some two million Canadians. No one has lost a dollar of deposits under CDIC protection.

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Further information

Brad Evenson
Director, Communications and Public Affairs
Tel: 613.943.4395

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