Extensive background in financial sector, including the Department of Finance
Canada’s banking regulator will be led by Peter Routledge, taking over for current head Jeremy Rudin, who is retiring.
Routledge, who is the current chief executive of the Canada Deposit Insurance Corporation (CDIC), begins his seven-year term as Superintendent of Financial Institutions on Tuesday. He takes on the role as Canada sets its sights on a recovery in the pandemic-ravaged economy.
Prior to joining the CDIC in 2018, Routledge worked as a senior advisor at the Department of Finance, where he advised on policy issues including financial stability, housing and financial services competition.
In his previous role as managing director of research at National Bank Financial, he led the team that oversaw equity, fixed income and derivatives research on Canadian financial institutions.
He was also head of the financial institutions group at ratings agency Moody’s Canada.
“He has distinguished himself in both the public and private sectors and I know his leadership and eye for innovation will be of immense value, particularly as we navigate the end of the COVID crisis and Canada’s economic recovery,” Finance Minister Chrystia Freeland said in a statement.
Rudin retires from the Office of the Superintendent of Financial Institutions (OSFI) on Monday after serving seven years with the banking regulator. He announced his retirement from the public service in December.