Peter Routledge is the new president and CEO of Ottawa-based Canada Deposit Insurance Corp. (CDIC), Bill Morneau, federal finance minister, announced Friday.
His appointment is for a term of five years.
CDIC, a federal Crown corporation, provides deposit insurance against the loss of eligible deposits at member financial institutions in the event of failure.
Routledge has more than 20 years of experience in the banking, financial and public sectors, and brings a wealth of knowledge and leadership to his new role.
“CDIC plays an important role in safeguarding public trust and stability in Canada’s financial system. With his extensive leadership experience in the financial sector, Mr. Routledge is well suited to lead CDIC. I wish him much success with his new responsibilities, and would like to thank Dean Cosman for serving as the interim president and CEO of CDIC during the last few months,” Morneau says in a statement.
Routledge joined the Department of Finance Canada in February 2017 as a senior advisor focused on financial sector policy issues.
Prior to joining the public service, he worked for 20 years in the financial services industry, both in Canada and abroad. He served as managing director of research at National Bank Financial, where he led a team responsible for producing equity, fixed income, and derivatives research on Canadian financial institutions. Prior to that, Routledge led the Canadian Financial Institutions Group at Moody’s Canada, with responsibilities for covering issuers in the banking, life insurance, personal and commercial insurance and reinsurance industries in Canada and the United States.
Routledge holds an MBA from INSEAD in France, and a bachelor’s degree in business and economics from Simon Fraser University.