Governor of Central Bank of Sweden taking on larger role at international development organization focused on financial supervision and inclusion
TORONTO, June 28, 2018 /CNW/ - The Board of Directors of the Toronto Centre for Global Leadership in Financial Supervision (Toronto Centre) is pleased to announce the appointment of Mr. Stefan Ingves, as Chair and Ms. Maureen Jensen, as Vice-Chair of Toronto Centre. Mr. Ingves and Ms. Jensen will oversee the governance of Toronto Centre as it continues to offer high-quality capacity building programs that enable financial authorities in emerging markets and developing countries to promote stable and inclusive financial systems. They bring a wealth of expertise in financial stability, supervision and regulation to the board. In their new roles, they will work closely with Mr. Babak Abbaszadeh, the President and Chief Executive Officer of the Toronto Centre.
Mr. Ingves has served on the Toronto Centre board since 1999 and is the current Governor of the Central Bank of Sweden (the Riksbank) and Chair of the Basel Committee on Banking Supervision. He is also a member of the General Council of the European Central Bank (ECB), the General Board of the European Systemic Risk Board (ESRB), the Board of Directors of the Bank for International Settlements (BIS) and the Board of Governors of the International Monetary Fund (IMF).
Ms. Jensen has served on the Toronto Centre board since November 2017 and is the current Chair and CEO of the Ontario Securities Commission (OSC). Ms. Jensen is a strong advocate for diversity in the workplace and was instrumental in creating rules surrounding public company disclosure to increase gender representation in Ontario on both boards and in executive officer positions.
Mr. Ingves succeeds John Palmer, who is retiring after serving on the Toronto Centre Board since 1998. Mr. Palmer helped to found Toronto Centre and was appointed Chair of the Board in 2005. He was recognized for his contributions to the regulation of Canada's financial institutions and for his role in establishing the Toronto Centre with an appointment to the Order of Canada in 2014. In his honor, Toronto Centre recently established the John R. V. Palmer Scholarships, which will help supervisors from developing countries attend its annual flagship certificate core curriculum course in Toronto. Mr. Palmer will continue to assist the Toronto Centre as a special advisor to the CEO.
Toronto Centre recently celebrated 20 years since it was established to enhance the capacity of financial supervisors and regulators in emerging markets and developing countries to promote financial stability and inclusion.
"I'm honoured to become the Chair of this organization. Over the 20 years of hard work, Toronto Centre has become the leading organization helping to build supervisory capacity in the developing world," "My predecessor, John Palmer, has been instrumental in supporting Toronto Centre's growth into a respected capacity-building organization, and I hope to live up to the high standards he has set."
Stefan Ingves, Chair, Toronto Centre
"I look forward serving as Vice-Chair of Toronto Centre, and helping it continue to deliver excellent capacity-building programs that enable financial authorities who underpin global efforts to improve economic development, reduce poverty, and promote gender equality."
Maureen Jensen, Vice-Chair, Toronto Centre
"It has been a distinct pleasure to help found Toronto Centre, and act as its Chair. I have watched with tremendous pride the growth of this organization over the past twenty years. I'm delighted to see Governor Ingves and Ms. Jensen assume the positions of Chair and Vice-Chair respectively. They are outstanding leaders and well qualified to take the Centre to the next stage of its evolution as we face new international challenges in financial stability and inclusion"
John Palmer, immediate past-Chair, Toronto Centre
"I learned tremendously from John Palmer's supervisory leadership, change management acumen and steady hand," "I look forward to working closely with Stefan Ingves, Maureen Jensen, and the Board as we embark on new opportunities and challenges while continuing the tradition of excellence in program development and delivery for the benefit of a worldwide community of central bankers, supervisors and regulators."
Babak Abbaszadeh, President and CEO, Toronto Centre
Established in 1998, Toronto Centre for Global Leadership in Financial Supervision (Toronto Centre) is an independent not-for-profit organization that promotes financial stability and access to financial services globally. Our mission is to provide high quality capacity building programs for financial supervisors and regulators, primarily in emerging markets and developing countries. We believe that for countries to thrive, their financial systems must be stable and inclusive. By helping to build these economic foundations, our mission supports sustainable growth and job creation, and helps to reduce poverty. In turn, stable, sustainable economic growth is a vital enabler for infrastructure investments, strengthening international trade, and poverty reduction as confirmed by the UN 2030 Sustainable Development global consensus and Addis Ababa Action Agenda. Our work is aligned with Canada's Feminist International Assistance Policy. Since our inception in 1998, we have trained more than 10,000 supervisors and regulators from over 190 countries and territories. Toronto Centre is supported by Global Affairs Canada, the International Monetary Fund, Swedish International Development Cooperation Agency (Sida), and other valuable international partners
SOURCE Toronto Centre
For further information: Kathy Nguyen, Communications Coordinator, Toronto Centre, 416.943.9300 ext. 236, [email protected]