The Global Risk Institute in Financial Services (GRI) announces Richard Nesbitt as new President and CEO

-  Announcement follows Michel Maila's decision to step down as President and CEO

TORONTO and LONDON, April 27, 2015 /CNW/ - The Global Risk Institute in Financial Services (GRI) today announced the appointment of Mr. Richard Nesbitt as its new President and CEO, effective May 1, 2015.

This appointment follows Dr. Michel Maila's decision to retire as President and CEO of GRI after three years' service in the role.

"Michel Maila has led GRI from a start-up to a successful organization, and we are most grateful to him for his excellent contribution over the past three years. We look forward to a continuing association with Michel which will enable us to tap in to his vast risk management expertise," said Paul Cantor, Chair of GRI.

Speaking about Mr. Nesbitt's appointment, Mr. Cantor added, "I am delighted that an individual of Richard's caliber has agreed to become our new President and CEO. Richard has experience working at the highest level in financial services, as well as teaching and research. Together with his wider commitment to public service, I am sure he will be an outstanding President and Chief Executive Officer as we seek to continue to grow GRI and build upon our recent successes."

Mr. Richard Nesbitt said, "GRI has grown significantly since its inception four years ago. From our strong Canadian base we have the opportunity to build upon GRI's accomplishments and to further our reach globally."

The Global Risk Institute in Financial Services (GRI) is a leading provider of applied, integrative research and education programs. GRI was founded as a not-for-profit institute by the Government of Canada, the Province of Ontario, TD Group and Manulife in 2011, and currently has 27 member institutions from the financial services sector across Canada. GRI enables financial institutions, policy-makers and regulators to better manage the balance between risk and opportunity by delivering applied research and education programs that build risk capacity and stimulate evidence-based debate for its members and the wider global financial community.


  1. Mr. Richard Nesbitt biography: Richard Nesbitt is an Adjunct Professor of the Rotman School of Management, University of Toronto. In addition he is Chair of the Advisory Board of the Mind Brain Behaviour Hive, University of Toronto.

    Mr. Nesbitt was Chief Operating Officer, CIBC until he retired from that position in September 2014. In this role, he was responsible for the global operations of Wholesale Banking, Technology and Operations, Strategy and Corporate Development, CIBC's International Operations, including CIBC FirstCaribbean International Bank, and Treasury.  Mr. Nesbitt joined CIBC in 2008 following his more than 20 years of experience in the securities industry. 

    From 2004 to 2008 Mr. Nesbitt was Chief Executive Officer of TSX Group having joined TSX as President of TSX Markets in 2001. Prior to joining the company in 2001, Mr. Nesbitt served as President and Chief Operating Officer of BayStreetDirect Inc., an Internet based investment dealer. Before that Mr. Nesbitt was President and Chief Executive Officer of HSBC Securities Canada for three years, after having worked for 10 years at CIBC Wood Gundy. He has also worked with Mobil Oil Canada Ltd., for five years and spent two years as a Lecturer at the University of Western Ontario, Richard Ivey School of Business.

SOURCE Global Risk Institute

For further information: For interviews or photography, please contact: Susan Pape, Communications Associate, Global Risk Institute, Telephone: +1-416-306-0027, Email:; Canadian media queries: Jennifer Lee, NATIONAL Public Relations, Telephone: +1-416-848-1383, Email:; UK/EU media queries: Bhakti Gajjar, Sermelo, Telephone: +44 (0) 207 557 4333, Email:

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