The Board of Directors of the Investment Industry Association of Canada (IIAC) Wednesday announced the election of Sylvain Perreault, chief compliance officer, Desjardins Group, as new board chair of the association.

In addition, Greg Woynarski, global head of debt capital markets, Scotiabank Global Banking and Markets, has been elected board vice chairman.

In his new role Perreault will focus his efforts on continuing to ensure the IIAC remains a strong and effective advocate on behalf of the association’s 160 member firms by broadening the regulatory debate beyond specific advocacy initiatives to the bigger picture, notably the unintended consequences and costs of regulatory reforms.

“I am pleased to begin my term as IIAC board chairman and, along with IIAC staff and my fellow board members, we will continue to proactively respond – through public commentary and engagement with securities regulators and government officials – to new regulatory proposals while reinforcing the consequences for our industry and capital markets, and the Canadian economy as a whole,” Perreault said, in a release.

In addition to Perreault and Woynarski’s elections, the IIAC welcomed new board members Matthew Gaasenbeek, president, Canaccord Genuity (Canada), and Bryan Osmar – managing director & head, market infrastructure, RBC Capital Markets.

Three board members have been re-elected to serve additional two-year terms: Sandy Cimoroni – president, TD Mutual Funds; Steven Donald – president, Assante Wealth Management Inc.; and Charlie Spiring – vice chairman & director, National Bank Financial Wealth Management and immediate past chairman, IIAC board of directors.

The IIAC’s immediate past vice chairman, Peter Brown, recently retired honourary chairman, Canaccord Financial Inc., has been named the IIAC’s inaugural chairman emeritus.

The elections took place on June 18 in Toronto.