A Bay street sign is seen in the financial district in Toronto, Monday June 2, 2014.
Canada's brokerage industry regulator has appointed a new president and chief executive officer to lead the group.
The Investment Industry Regulatory Organization of Canada (IIROC) said Andrew Kriegler will take on the role on Nov. 1. This will put him in a position to watch over the country's investment dealers and trading activity on debt and equity marketplaces.
Mr. Kriegler joins the group from banking regulator the Office of the Superintendent of Financial Institutions (OSFI), where he has been deputy superintendent for about one year. In that capacity he had the responsibility for the supervision of more than 400 federally regulated financial institutions.
Prior to his work with OSFI, Mr. Kriegler worked on Bay Street for more than 20 years, last serving as senior vice-president and treasurer at Canadian Imperial Bank of Commerce. He also serves on the board of the Canada Deposit Insurance Corp., the Crown corporation that insures deposits with member institutions.
"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," Mr. Kriegler said in a statement.
Mr. Kriegler will take over for Susan Wolburgh Jenah, who had previously announced plans to step down in October after eight years with the organization. She was originally the head of the Investment Dealers Association of Canada, which combined with Market Regulation Services to form IIROC in 2008.
Ms. Wolburgh Jenah recently told the Globe that she felt she was leaving the organization stronger than when she joined it, having weathered the merger, credit and financial crises and issues with missing financial data.
Marianne Harris, IIROC's chair, called Mr. Kriegler an industry veteran with "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."