OTTAWA, July 31, 2019 /CNW/ - Payments Canada today announces the election and re-election of directors to its board. Effective June 20, 2019, Kevin Patterson of CIBC and John Landry of Citi join the Payments Canada Board of Directors. David Barnard and Susan Doniz have been reappointed as independent directors.
"The varied professional backgrounds and expertise on the board are key to successfully supporting Payments Canada as it leads the industry through payments modernization," said Eileen Mercier, Chair of the board of directors. "This is an exciting time in payments and a critical point as the industry-wide Modernization program enters the implementation phase. The board is well-positioned to support."
New financial institution member appointee Kevin Patterson brings deep knowledge of retail payments and technology in financial markets from his role as Senior Executive Vice-President and Group Head, Technology and Operations at CIBC.
Further adding to the international perspective of the board is the appointment of John Landry, Head of Citi's Treasury and Trade Solutions business in Canada and a former representative on Payments Canada's Member Advisory Council. Mr. Landry previously led Citi's Treasury and Trade Solutions business in Australia and New Zealand.
Re-elected to Payments Canada's Board are independent directors David Barnard and Susan Doniz.
Payments Canada thanks its outgoing directors; Dan Dickinson, Equitable Bank, and Ernie Johannson, BMO for their many contributions.
The Payments Canada Board of Directors is composed of 12 elected directors (seven independent directors and five directors selected from Payments Canada's network of member financial institutions) and Payments Canada's President and CEO.
As part of Payments Canada's governance framework, a certain number of board positions come up for election each year during the annual meeting of members. Eligibility criteria for directors, including independence requirements, are set by the Canadian Payments Act, its regulations and Payments Canada's guidelines. Read more about Payments Canada's Board of Directors.
Payments Canada ensures that financial transactions in Canada are carried out safely and securely each day. The organization underpins the Canadian financial system and economy by owning and operating Canada's payment clearing and settlement infrastructure, including associated systems, bylaws, rules and standards. The value of payments cleared and settled by Payments Canada in 2018 was more than $52 trillion or $209 billion each business day. These encompass a wide range of payments made by Canadians and businesses involving inter-bank transactions, including those made with debit cards, pre-authorized debits, direct deposits, bill payments, wire payments and cheques. Payments Canada is a proud supporter of the Catalyst Accord and the 30% Club.
SOURCE Payments Canada
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