The Global Risk Institute in Financial Services (GRI) appoints Dr. Tiff Macklem as Chair of the Board

-  Announcement follows Paul Cantor's decision to step down as the Chair of the Board after more than three years of service

TORONTO, May 6, 2015  /CNW/ - The Global Risk Institute in Financial Services (GRI) recently confirmed Tiff Macklem as its new Chair following board approval. Dr. Macklem's appointment took effect on May 1.

This appointment follows Mr. Paul Cantor's decision to retire as GRI's Chair after more than three years' service in the role.

"Paul Cantor guided GRI through a period of rapid growth," said Carol Hansell, Chair of GRI's Nominating and Governance committee. "His understanding of the issues facing GRI's members and his wise counsel have been instrumental in helping GRI to grow and deepen its impact across the financial services industry."

Commenting on Dr. Macklem's appointment, Carol Hansell added, "I speak for my Board colleagues in expressing our delight that Tiff Macklem has joined us as Chair. He brings incomparable expertise from his current role as Dean of the Rotman School of Management and his previous work as G7 Finance Deputy for Canada and then Senior Deputy Governor at the Bank of Canada, where he was a key part of the team that successfully steered Canada through the worst financial crisis in eighty years."

Dr. Tiff Macklem said, "Risk is inherent to all financial systems around the world. GRI's mission is to help organizations enhance their risk capacity and expertise. Having successfully engaged with the Canadian financial services community and beyond, we now intend to further expand GRI's international reach, working with partners in government and financial services 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. www.globalriskinstitute.org

NOTES TO EDITORS:

1.  Mr. Tiff Macklem biography: Tiff Macklem is the Dean of the University of Toronto's Rotman School of Management and began his five-year term in that position on July 1, 2014.

Tiff Macklem served as Senior Deputy Governor of the Bank of Canada, sharing responsibility with the Governor and four Deputy Governors for monetary policy and the Bank's role in promoting financial stability. In that role, he was also the Bank's Chief Operating Officer and a member of its board of directors, overseeing strategic planning and coordinating the Bank's operations. Macklem has also played a leading role in efforts to ensure stable financial systems worldwide through the G20 and the Financial Stability Board.

Prior to his appointment at the Bank, Macklem served as Associate Deputy Minister of the federal Department of Finance and Canada's Finance Deputy at the G7 and G20. He also served as chair of the Standing Committee on Standards Implementation of the Financial Stability Board. In that role, he worked to establish an international system of peer review to promote and assess the implementation of new financial standards across the 24 most financially important countries in the world.

Macklem occupied increasingly senior positions in the Bank of Canada's Research Department (now Canadian Economic Analysis) until his appointment as Chief in January 2000. He was appointed Adviser to the Governor in August 2003. In 2003-4, he was seconded to the Department of Finance, returning to the Bank as a Deputy Governor in December 2004. He rejoined Finance as Associate Deputy Minister in 2007.

Macklem is a well-known expert in monetary and financial systems and has contributed articles to such publications as The Economic Journal, Journal of International Money and Finance, Canadian Public Policy, and the Canadian Journal of Economics, while providing chapters and commentaries on monetary, fiscal, and financial policies in over a dozen books and conference proceedings.

SOURCE Global Risk Institute

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