Ian Russell is the newly elected chairman of the International Council of Securities Associations (ICSA), the Toronto-based Investment Industry Association of Canada (IIAC) announced on Tuesday. Russell is the first Canadian in 20 years to serve as chairman for the New York-based ICSA.

“ICSA is the only true representative of the global securities industry — an industry which carries out the trading and financing in regional and global markets, and the wealth management business,” said Russell in a statement. “I view this as a strong opportunity to raise awareness of not only ICSA’s role in promoting vibrant and prosperous investment industries globally, but of the Canadian securities industry and our capital markets as well,” said Russell in a statement.

Russell will continue in his role as president and CEO of IIAC during his two-year term with the ICSA. His term as ICSA chairman will be ratified at the organization’s annual general meeting in April.

As part of its mandate the ICSA responds to initiatives from multinational regulatory bodies such as the International Organization of Securities Commissions (IOSCO), the Financial Stability Board (FSB) and the Organization for Economic Co-operation and Development (OECD).

In addition to its regular responsibilities, during Russell’s tenure as chairman, the ICSA will act as the secretary of the Cross-Border Regulation Forum (CBRF), a committee formed by global industry associations and stock exchanges to address cross-border regulatory issues arising from conflicting requirements.