(May 24 – 18:15 ET) – Long-time bureaucrat Nick Le Pan has been appointed deputy superintendent at the Office of the Superintendent of Financial Institutions.
John Palmer, the current superintendent, comes to the end of his seven-year term next year. But Le Pan, an assistant deputy minister of finance before joining OSFI in 1995, is expected to get the top job.
It has been a matter of policy since OSFI was created out of the old Department of Insurance and the Inspector General of Banks office in 1987 that the top job be filled from the ranks of one of the large auditing firms.
Le Pan, who holds a master’s degree in economics from the University of Toronto, had been assistant superintendent, supervision at OSFI.
He will be replaced by John Doran, who had been chief financial officer at the Canadian Imperial Bank of Commerce.
-Gord McIntosh