Office of the Superintendent of Financial Institutions

Office of the Superintendent of Financial Institutions

May 29, 2006 14:22 ET

OSFI Superintendent Announces New Executive Member

OTTAWA, ONTARIO--(CCNMatthews - May 29, 2006) - The Superintendent of Financial Institutions, Nicholas Le Pan, has announced the appointment of Ted Price as assistant superintendent, Supervision Sector, at the Office of the Superintendent of Financial Institutions (OSFI). Mr. Price fills the vacancy created by the departure of John Doran, who earlier in the year expressed his intention to retire after six years in the position.

Mr. Price most recently served as senior director, Financial Conglomerates Group, where he directed OSFI's Supervision program for large banks and life insurance companies. He joined OSFI in 2001, following a successful career in investment banking and capital markets.

"Ted brings considerable experience to the job, acquired both inside and outside OSFI, and a comprehensive understanding of the importance of OSFI's mandate," noted Mr. Le Pan in congratulating Mr. Price on his appointment. "He was selected from among a strong field of internal and external candidates."

A copy of Mr. Price's biography can be obtained through the following link: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=1322

OSFI's Supervision Sector is responsible for risk assessment and intervention, as necessary, for about 450 federally regulated financial institutions as part of the Office's mandate to protect policyholders and depositors.

In addition to the superintendent and Mr. Price, the other members of OSFI's executive team are Julie Dickson, assistant superintendent, Regulation Sector, and Donna Pasteris, assistant superintendent, Corporate Services Sector.

"I want to thank John Doran for the prominent role he played in the execution of OSFI's strategy and mandate," added Mr. Le Pan. "He has made an enormous contribution to OSFI."

Created in 1987 by an Act of Parliament, the Office of the Superintendent of Financial Institutions (OSFI) is the primary regulator and supervisor of federally registered deposit-taking institutions, insurance companies, and federally registered private pension plans. OSFI's mandate is to advance and administer a regulatory framework that contributes to public confidence in a strong, stable and competitive financial system.

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