IIROC names Andrew J. Kriegler as President and CEO

TORONTO, Sept. 3, 2014 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) today announced the appointment of Andrew J. Kriegler as the incoming IIROC President and Chief Executive Officer. Mr. Kriegler will assume the position on November 1, 2014, and will also become a member of the IIROC Board of Directors at that time.

Mr. Kriegler currently serves as Deputy Superintendent of the Office of the Superintendent of Financial Institutions (OSFI), an executive position he has held since August 2013, with responsibility for the supervision of more than 400 federally regulated financial institutions. As President and CEO of IIROC, Mr. Kriegler will be responsible for leading the regulator which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

Marianne Harris, Chair of the IIROC Board said: "Andrew Kriegler has an exceptional track record in the financial services industry, including extensive work supporting a regulatory framework that contributes to public confidence in a strong, stable and competitive financial system. As an industry veteran, he has shown strong leadership, particularly in risk management and investor protection.  Andrew's experience will be an important asset in leading our ongoing focus on delivering effective and efficient regulation."

Ms. Harris added: "The IIROC of today is a modern, respected and relevant regulator that is well positioned to build on our accomplishments and we are pleased to have Andrew joining us as we continue to fulfill our regulatory mandate."

Mr. Kriegler joined OSFI as Assistant Superintendent, Supervision Sector, in February 2013. He has more than 25 years of experience in the financial services industry, including executive positions in treasury and human resources and in areas such as debt capital markets, securitization and fixed income trading.

"I am honoured to have been selected by the Board to lead IIROC during such a pivotal time - as the regulator develops its new Strategic Plan and sets its priorities and direction for the next three years. Together with the dedicated management team and talented staff, we will continue to work diligently to advance IIROC's mandate of protecting investors, strengthening industry standards and enhancing market integrity," said Mr. Kriegler.

Mr. Kriegler will succeed Susan Wolburgh Jenah who, earlier in the year, announced her intention to step down from her role as IIROC's inaugural President and CEO effective October 31, 2014.

"On behalf of the Board, I also want to extend our deepest appreciation to Susan for her vision, hard work and unrelenting commitment. IIROC has been fortunate to have had her leading the organization throughout a transformative period in financial markets," said Ms. Harris.

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BACKGROUNDER: Biography of Andrew J. Kriegler

Incoming IIROC President and CEO Andrew J. Kriegler currently holds the position of Deputy Superintendent of the Office of the Superintendent of Financial Institutions (OSFI), with responsibility for the supervision of more than 400 federally regulated financial institutions. He joined OSFI in February 2013 as the Assistant Superintendent, Supervision Sector.

Prior to OSFI, Andrew was Senior Vice President & Treasurer of CIBC, a post he held from November 2008 through August 2012.  He joined CIBC in the bank's risk management group earlier in 2008 from Moody's Corporation, parent of the credit rating agency Moody's Investors Service, in New York.

At Moody's, Andrew was Senior Vice President & Chief Human Resources Officer and a member of the executive management committee.  He joined the executive team after having been the Canadian Country Managing Director for Moody's Investors Service for a number of years.

Prior to joining Moody's in 2000, Andrew was responsible for liquidity risk management and funds transfer pricing at Canada Trust and for developing the firm's wholesale funding and securitization programs.  He directed the institution's credit market access and represented the company to institutional investors as well as to government and regulators in matters concerning liquidity risk and asset securitization.

From 1993 through 1997, Andrew was an investment banker with the securitization and debt capital markets groups at BMO Nesbitt Burns. Andrew came to a predecessor of BMO Nesbitt Burns from CIBC's Wholesale Banking group where he specialized in structured finance after having traded mortgage and asset-backed securities for two years.

Andrew currently serves on the Board of the Canada Deposit Insurance Corporation, the federal corporation that insures eligible deposits by Canadians with member institutions in case of failure by those institutions.

He holds an MBA from the Richard Ivey School of Business at Western University and a B.Sc. in Computer Science and Economics from Trinity College in the University of Toronto.

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IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.  Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets. 

IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News

June Yee
Manager, Corporate Communications
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Karen Archer
Senior Media & Public Affairs Specialist
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