Minister Duclos continues transformation of federal housing system, announces appointments to CMHC Board of Directors
OTTAWA, December 19, 2017 — The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) today announced seven appointments to the CMHC Board of Directors.
CMHC is at a critical juncture in its history and the appointments announced today signal another step in the transformation of CMHC. The government’s renewed commitment to housing will be brought to life through the National Housing Strategy. CMHC will play a vital role in the implementation and delivery of the Strategy. The new board members reflect the diverse perspectives and wide-range of skills that are needed as CMHC prepares to fulfill its leadership role as part of the National Housing Strategy and as it continues to play a leading role in ensuring Canadians benefit from a housing market that is stable, secure and affordable. All members were selected via an open, transparent and merit-based process.
Joining CMHC’s Board will be: Derek Ballantyne (as the new Chairperson); Janice Abbott; Dana Ades-Landy; Anne Giardini and Linda Morris. In addition, current member Mr. Bruce Shirreff has been reappointed for a 3-year term. (See backgrounder for additional information).
“I am pleased to announce the appointment of these very talented individuals to the CMHC Board. By appointing leaders, from across the country, with experience in the co-operative sector, the community housing sector, and the financial sector, we are bringing an array of leadership skills to CMHC, which will be of tremendous value to the National Housing Strategy,” said Minister Duclos.
“I am especially proud of this diverse and highly-qualified group of directors, which will promote a vigorous board dynamic. With gender parity among our independent directors, this recent step in our ongoing transformation makes CMHC a world leader among large financial institutions,” said Evan Siddall, President and CEO of CMHC.
The Minister also took this opportunity to thank outgoing chairperson Robert P. Kelly and outgoing member Louise Poirier-Landry, for their service and dedication to CMHC’s board.
“Thank you to Mr. Kelly and Ms. Poirier-Landry for their dedication and service to CMHC over the last number of years. Their leadership has been instrumental in building the strong CMHC we have today and that is ready to take on these new challenges,” added Minister Duclos.
CMHC helps Canadians meet their housing needs. As Canada’s authority on housing, it contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of its operations.
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Office of the Minister Families, Children and Social Development
Derek Ballantyne — Chairperson — 5-year term effective April 29, 2018
Mr. Derek Ballantyne brings extensive experience in the development and management of housing, as well as the development of financial models for housing development and operations and innovative approaches to attract new sources of capital to housing.
With more than 20 years of experience in the management of large and mid-size housing organizations, he brings broad knowledge of the complex public and private environments and a comprehensive knowledge of housing, real estate management and development sectors. He also brings deep knowledge of the non-profit, charitable, social entrepreneurship, cooperative and foundation sectors at the local, provincial and federal levels
Mr. Ballantyne was Chief Operating Officer of Build Toronto, where he assisted in the establishment of the corporation, development of the first business plan, and execution of several large transactions and development initiatives. He also served as Chief Executive Officer of Toronto Community Housing, a large rental housing provider, with over $6 billion in real estate assets in Toronto. He led organizational and financial restructuring of the company, and the recapitalization and redevelopment of a significant portion of the portfolio (including the Regent Park community) as well as the commercialization of non-core functions. He is currently CEO for Encasa Financial Inc., a multi fund provider and a partner in New Market Funds, an innovative platform that develops and manages impact investment products.
Janice Abbott — Director — 3-year term effective December 14, 2017
Ms. Janice Abbott has been the CEO of Atira Women's Resource Society since 1992. She has lead the Society through its growth from a single transition house located in South Surrey with a staff of seven to a large multi-service agency with two, for-profit subsidiaries, a development arm and more than 500 staff. She has led numerous innovative capital projects including Canada’s first multi-unit recycled shipping container housing development, which was completed in August 2013 and Olivia Skye, a 198-unit mixed income rental building built in partnership with a large Vancouver development firm and opening in January 2018.
She was recognized by Vancouver Magazine on its Power 50 list in November 2017, BC Business Magazine as among one of BC's 35 Most Influential Women in 2016 and BC’s Most Influential Women in Not-for-Profit, Culture & Media in 2015.
Dana Ades Landy — Director — 4-year term effective January 30, 2018
Ms. Dana Ades-Landy brings more than 25 years of experience in the fields of business financing, financial recovery services and credit. She has profound knowledge of the commercial lending sector.
She served various high-level positions with several Canadian banking institutions. Ms. Ades-Landy was most recently VP in charge of Commercial Banking for Quebec and Eastern Ontario at Scotiabank. She served as Senior Vice President of National Accounts, Commercial Banking for Laurentian Bank of Canada from 2006 until 2013, was Senior Vice President Transaction Advisory Services at KPMG LLP between 2004-2006 and for the 12 years prior to this was VP Special Loans and Real Estate, Canada for National Bank. Since 2016, Ms. Ades-Landy has been the CEO of Heart and Stroke, Quebec.
In November 2012, Ms. Ades-Landy was nominated as president of the board of the Financial Women’s Association of Quebec (FWA). She also serves on the board of Alithya, Canada’s leading privately held company in IT Strategy and Consultation. In February 2017, she was nominated to the Canadian Board of the International Women’s Forum, a global organization which promotes women leaders around the world.
In September 2016, she completed 2 terms as president of the Advisory Board of the John Molson School of Business. She has previously served on the board of Liquid Nutrition Group, the Institute of Public Private Partnerships, Montreal Heart Institute Foundation and was a member of the board and chair of the governance committee of the Quebec Cancer Foundation. Ms. Ades-Landy was named one of Canada’s Top 100 Most Powerful Women in 2007 and again in 2009.
She also holds the professional designation of ICD.D granted by the Institute of Corporate Directors.
Anne Giardini, O.C., Q.C. — Director — 4-year term effective January 2, 2018
An executive, lawyer, director and writer, Ms. Anne Giardini, O.C., Q.C. was president of Weyerhaeuser Company Limited from 2008 to 2014 after serving as Weyerhaeuser's General Counsel. A long-time leader within Canada’s resource industry, she has served on many related boards including B.C.’s Council of Forest Industries, the Alberta Forest Products Association, the Forest Products Association of Canada, and Sustainable Forestry Initiative, Inc.
In 2014 and again in 2016, Ms. Giardini was recognized by WXN as one of Canada's 100 most powerful women. In 2015 she received a Western Canada General Counsel Lifetime Achievement Award. In 2016, she was appointed Officer of the Order of Canada for her contributions to the forestry sector, higher education and the literary community.
Ms. Giardini served on Simon Fraser University's Board of Governors for five years before being appointed Chancellor in 2014.
Linda Morris — Director — 4-year term effective December 14, 2017
Ms. Linda Morris served as Senior Vice-President of Business Development, Member and Community Engagement at Vancity, from 2011 to 2017. She was responsible for engaging and growing the credit union’s membership through its member experience, products and services, and commitment to communities.
Previously, she was the CEO of the Canadian Breast Cancer Foundation, BC/Yukon; prior to this was Deputy Minister in the Public Affairs Bureau for the Government of BC, Vice President, and Communications & Community Engagement for Vancouver Coastal Health, and Director of Public Affairs for the Vancouver Port Authority.
Bruce Shirreff — Director — Re-appointment – 3-year term effective January 30, 2018
Mr. Bruce Shirreff was first appointed to CMHC’s Board in February 2014. His career with Toronto Dominion Bank/TD Canada Trust has spanned close to 35 years. During his career he held a number of senior positions including: Senior Vice President, Atlantic Canada Region; Senior Vice-President, Real Estate Secured Lending; and Senior Vice President, Financial Planning and Wealth Management. He holds an Honours in Business Administration (HBA) and an MBA from the Ivy School of Business, University of Western Ontario.