The Investment Industry Regulatory Organization of Canada (IIROC) added two new directors, re-elected seven of its existing directors, and re-appointed its chairman and vice chairman at its annual general meeting on Monday.
Luc Paiement from National Bank of Canada was elected to serve as a dealer director. Paiment, who served as co-CEO of National Bank Financial from 2006 to July 2016, is currently executive advisor to the president and CEO of National Bank.
The other new director comes from the market side of IIROC membership, Thomas Wittman, executive vice president of Nasdaq.
Both Paiment and Wittman will serve two-year terms.
Additionally, seven of IIROC’s existing directors were re-elected to the board self-regulatory organization. Two of the seven, Paul Allison and Jean-Paul Bachellerie, represent dealer firms. The other five are all independent directors: James Donegan; Marianne Harris; Edward Iacobucci; Gerry O’Mahoney; and Catherine Smith.
Harris was reappointed as chairman of the board on Tuesday, and another independent director, Mike Gagné, was re-appointed vice chairman.
“I am pleased with the continuity and stability brought by our dedicated group of directors and welcome the fresh perspectives of our two new board members,” Harris said in a news release.
The IIROC board also includes five other directors who will continue to serve the second year of their two-year terms, including Gagné and Brian Heidecker as independent directors, Rita Achrekar and Holly Benson as dealer representatives, and Nick Thadaney, marketplace director.
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