JRC to look at expanding OBSI’s powers

The Ombudsman for Banking Services and Investments (OBSI) announced on Friday that Grace McSorley, executive director of front line business effectiveness with Canadian Imperial Bank of Commerce’s (CIBC) private wealth-management division, will join the ombudservice as deputy ombudsman on July 4.

“Grace has a tremendous track record of managing litigation, regulatory investigations and regulatory and client complaints in both the banking and investment sectors,” says Sarah Bradley, ombudsman and CEO of OBSI, in a statement.

“Consumers and participating firms that rely on OBSI’s services for fair dispute resolution will benefit greatly from her knowledge and expertise,” she adds.

McSorley was executive director of business risk, regulatory affairs and Government at CIBC Wood Gundy and litigation counsel at CIBC prior to her current role at CIBC Private Wealth Management. She will succeed Brigitte Boutin, who retired from OBSI in March.

“OBSI provides a vital public service, and I look forward to playing my part in ensuring it continues to strengthen confidence in the Canadian financial sector by working to impartially and effectively resolve consumer disputes,” says McSorley, in a statement.

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