TORONTO (Reuters) - One of the top figures at Canada’s main banking supervisor will leave his post to take on the chief executive role at the country’s primary investment industry self-regulator, his new employer said on Wednesday.
Andrew Kriegler will succeed Susan Wolburgh Jenah, who announced her intention to step down as head of the Investment Industry Regulatory Organization of Canada (IIROC) earlier this year.
“Andrew Kriegler has 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,” IIROC chair Marianne Harris said in a statement.
Kriegler is leaving the Office of the Superintendent of Financial Institutions (OSFI) after 18 months as deputy superintendent for the supervision sector. Previously he held senior positions at CIBC and Moody’s Corp, and worked as an investment banker at BMO Nesbitt Burns.
He was considered a viable candidate for the top job at OSFI earlier this year. But that role went to Jeremy Rudin.
“In the time that I have worked with Andrew, I have been very impressed with his in-depth knowledge of the financial services industry and observed his strong leadership skills,” Rudin wrote in a memo to Canada’s biggest financial institutions.
Kriegler will start at IIROC, which oversees all Canadian dealers and debt and equity marketplaces, on November 1.
Reporting by Alastair Sharp; Editing by Jeffrey Hodgson and Grant McCool