The Toronto-based Investment Industry Association of Canada (IIAC) announced its 2015-16 board of directors on Monday, with Greg Woynarski, managing director and global head of origination, Scotiabank global banking and markets, Scotia Capital Inc., elected as chairman.
Woynarski, who was previously vice chairman of the board, takes the helm from Sylvain Perreault, chief compliance officer with Desjardins Group. Perreault remains a member of the board.
"The IIAC provides leadership for the Canadian securities industry with a commitment to a vibrant, prosperous investment industry driven by strong and efficient capital markets," said Woynarski. "Over the years, we have had a great impact on positively transforming the regulatory landscape and on shaping public policy to the benefit of Canada's investment dealer firms."
John Chambers, CEO of FirstEnergy Capital Corp., will now hold the position of vice chairman.
New members to the board include Monique Gravel, managing director and head of CIBC Wood Gundy; David Lang, co-head, global capital markets and I&TS compliance with RBC Dominion Securities Inc.; and Stuart R. Raftus, president of Canaccord Genuity Wealth Management.
In addition to Perreault, returning members include Sandy Cimoroni, senior vice president and chief operating officer with TD Wealth; Mario Frankovich, CEO, chairman and ultimate designated person with Burgeonvest Bick Securities Ltd.; Charyl Galpin, executive vice president and managing director, head, private client division, with BMO Nesbitt Burns Inc.; Terry Hetherington, executive vice president and head of the private client group at Raymond James Ltd.; Jeff Kennedy, managing director, equity capital markets and operations, Cormark Securities Inc.; Ian Russell, president and CEO of IIAC; Charlie Spiring, vice chairman and member, executive committee, National Bank Financial Ltd.'s wealth-management division; and Deborah Starkman, chief financial officer and secretary, GMP Capital Inc.
Both new and returning members of the board were elected at the IIAC's annual general meeting on June 10. Russell also took that opportunity to outline the association's top priorities for the coming year. These include commenting on new draft regulations for the co-operative capital markets regulatory system; engaging key stakeholders in roundtable discussions to diagnose problems and identifying solutions for the TSX Venture Exchange; assisting regulators to finalize the rules framework for financial advisors; working with regulators to improve the transparency regime of traded debt securities; and helping firms develop best practices and tools to defend against cyber threats.
"Sweeping regulatory reform has engulfed all investment dealers," Russell said. "Under our board's leadership, the IIAC will continue to play a constructive role helping the regulators ensure extensive rules are properly designed and cost-effective [as well as] avoid unintended consequences."