Risk expert Michel Maila assumes new role
TORONTO, June 11, 2012 /CNW/ - A financial economist with over 30 years of Canadian and international
experience has been chosen to lead the Toronto-based Global Risk
Institute in Financial Services (GRI). Dr. Michel G. Maila, a veteran
of financial institutions in both the private and public sectors, is an
ideal choice as President and Chief Executive Officer, said Paul
Cantor, Chairman of the Board of Directors of the GRI, as he announced
the decision today. The appointment was effective June 1.
"Dr. Maila is highly regarded in the international circles where
financial services sector risk issues are being discussed" said Mr.
Cantor. "He is well suited to building GRI's standing as a source of
important research, to enhancing our understanding of risk issues and
providing valuable insights to practitioners and policy-makers."
GRI has been established with the support of the Governments of Canada
and Ontario and 17 leading firms and professional associations in
Canada's financial services sector. The Institute will pursue applied
research and offer education across multiple risk management
disciplines. It will help foster a deeper understanding of risk, and
serve as a forum for dialogue between financial sector practitioners,
policy-makers and regulators, and the academic community.
"The Institute will leverage Canada's strong record in the financial
services sector, our reputation as effective risk managers and
Toronto's highly skilled and diverse workforce," said Janet Ecker,
President, Toronto Financial Services Alliance (TFSA), whose
organization recommended the creation of GRI and facilitated its
founding. GRI and the TFSA will work closely together.
Dr. Maila served as Vice-President, Risk Management, at the
International Finance Corporation (the Washington-based private sector
arm of the World Bank Group) during the crucial period from 2007 to
2010. Previously, he worked with BMO Financial Group for 22 years,
rising to the position of Executive Vice-President and Head of
Corporate Risk Management. Before coming to Canada, Dr. Maila worked
with Citibank and American Express, where he gained corporate and
investment banking experience while based in Beirut, Athens, Dubai,
Amman and London.
In December 2011, Dr. Maila was appointed to the International Advisory
Board of the Stuttgart-based European Virtual Institute for Integrated
Risk Management. He has also been a board member of the Geneva-based
International Risk Governance Council and the Washington-based
Institute of International Finance. Dr. Maila has served as a Board
Director for the following private sector companies: Argentina Private
Development Trust Company (Buenos Aires); Grupo Financiero Bancomer (Mexico City); Canadian Advisory Board of Factory Mutual Global Insurance (Providence,
RI); and Corporation Groupe Mercator Transport (Montreal, Quebec), the
last as Chair of the Audit and Risk Committee.
Dr. Maila earned his Ph.D. in International Finance from the University
SOURCE Toronto Financial Services Alliance
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