The Department of Finance Canada has announced who is replacing the retiring Jeremy Rudin.
Peter Routledge, current President and CEO of the Canada Deposit Insurance Corporation (CDIC), will succeed Rudin as Superintendent of Financial Institutions. Routledge will be responsible for overseeing and regulating banks and the financial sector at the OSFI.
Prior to joining CDIC, Routledge held leadership roles in Canada's financial services sector in both the public sector at the Department of Finance and the private sector at National Bank Financial and Moody's Canada.
“Canadians are the direct beneficiaries of the strong and effective regulation and supervision of banks in our country. Indeed, our prudent approach and stable financial sector are the envy of peer countries around the world. Peter Routledge 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,” Chrystia Freeland, Deputy Prime Minister and Minister of Finance of Canada, said when the appointment was announced.
In an industry letter, Rudin also wished Routledge well, adding that “It has been a privilege to serve the people and Government of Canada as Superintendent of Financial Institutions.”
