TORONTO (Reuters) - The chief lobbyist for Canada’s banks, Terry Campbell, is to step down as chief executive of the Canadian Bankers Association (CBA) next year, he told Reuters, leaving time for a successor to be appointed.
Campbell, who has been in the role since March 2011, said he has notified the country’s biggest banks of his decision after informing the board of the CBA earlier this month.
“I‘m going to retire a year from now. I’ve given my board a year” to appoint a successor, Campbell said.
Campbell has worked at the CBA since 1997, having previously had a 16 year career in the Ontario public service, including having responsibility for policy relating to provincially-regulated financial services.
During his time at the helm of the CBA, Campbell lobbied against the Volcker rule, a key plank of U.S. financial reform which he said would unfairly punish Canadian banks that dealt closely with the U.S. market.
Reporting by Matt Scuffham; Editing by David Gregorio