Ontario’s new pension regulator appoints inaugural CEO

Ontario’s new pension regulator, the Financial Services Regulatory Authority, has appointed Mark White as its inaugural chief executive officer, effective May 7, 2018.

White is currently the senior vice-president and head of enterprise risk at the Bank of Montreal and has also led its capital adequacy and analysis and capital management functions. Prior to joining the Bank of Montreal, he was assistant superintendent and head of the regulation sector at the Office of the Superintendent of Financial Institutions.

Read: Ontario announces plans for new pension regulator

In that role, he was responsible for a number of the organization’s functions, including approvals, policy-making and interpretation, legal services, research and accounting. He was also its lead policy-making representative in Canada and was on the international Basel Committee for Banking Supervision.

“A modern regulatory framework is essential to maintaining a robust financial services sector in Canada,” said Charles Sousa, Ontario’s minister of finance, in a news release. “It will allow Ontario to remain competitive and attract investment from all over the world. Mark’s experience and leadership will ensure FSRA provides the strong consumer and investor protection people expect and deserve during a time of innovation and rapid change.”

Bryan Davies, chair of the new regulator’s board of directors said White “brings a sophisticated understanding of regulatory environments and financial services, proven strategic and operational skills and a strong track record of progressive leadership, innovation and organization building. He will play an integral part in shaping a robust, world-class regulatory framework for Ontario.”

Read: Plan sponsors face new monetary penalties under Ontario pension changes