June 13th, 2017
The Globe and Mail
June 07, 2017
A female executive will be taking the helm for the first time as chair at the Investment Industry Association of Canada.
Charyl Galpin, executive vice-president, managing director and head of private client division at BMO Nesbitt Burns, has been appointed chair of IIAC's board of directors for the 2017-18 term. Her appointment was announced at IIAC's annual general meeting Wednesday evening in Toronto.
"I am delighted to be named IIAC Board Chair and very proud to be the first woman to serve in this capacity," Ms. Galpin said in a statement. "I look forward to working with my IIAC board colleagues and staff to promote cost-effective regulation to benefit investors and our capital markets."
The rise of female board members in Canada has been slow. Three years ago, regulators announced an initiative to help increase the number of females executives who sit on boards of directors and fill senior management roles. In September, 2016, women made up only 12 per cent of the boards at 667 companies listed on the Toronto Stock Exchange, according to a report issued by the Ontario Securities Commission. This was up just 1 per cent from the previous year.
IIAC's first female board member was Sharon Watkins, chief executive of Sandstone Asset Management Inc. (the first female CEO of an securities licensed firm), who was appointed in 2007. Since then, there have been several female board members, with Ms. Galpin joining the board in 2015.
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