Board of Directors and Corporate Governance

David Wood

David Wood

Independent Director

Mr. Wood has been involved in the Canadian securities industry for 3 decades holding senior executive management positions with 3 major national investment dealers. Mr. Wood started Correspondent Network at First Marathon Securities Limited which pioneered the development of the Canadian correspondent clearing and business segment. Mr. Wood first joined the CDS Board in 1990 as representative of the Toronto Stock Exchange until 2006. Mr. Wood retired in 2008 and after two years he rejoined the CDS Board and was elected Chairman in 2010.

Jean Desgagné

Jean Desgagné

President and CEO, Global Enterprise Services, TMX Group

Mr. Desgagné is President and CEO, Global Enterprise Services, TMX Group, a member of TMX Group's executive management committee and is an Officer of the Corporation. Mr. Desgagné’s previous roles have included senior executive positions in risk management, operations, technology and finance in leading financial institutions.

Jean-Paul Bachellerie

Jean-Paul Bachellerie

President and Chief Operating Officer, PI Financial Corporation

Mr. Bachellerie is the President, Chief Operating Officer of PI Financial Corporation, Canadian Investment dealer providing a full range of investment products and services to individual, corporate, and institutional investors and operates a US-licensed subsidiary as well as an insurance-licensed subsidiary. Mr. Bachellerie's previous roles include Manager of Finance at Ernst & Young. Mr. Bachellerie was also the Chair of the Pacific District Council of IIROC and a member of IIROC's National Advisory Committee.

Richard Carleton

Richard Carleton

CEO, Canadian Securities Exchange

Mr. Carleton is the CEO of the Canadian Securities Exchange (“CSE”) and is responsible for the strategic direction and management of the organization. He assumed this role in July, 2011. Beginning in January, 2006, Mr. Carleton served as Vice-President, Corporate Development with responsibility for the CSE’s technology, operations, market data and trading sales teams. Prior to joining CSE, Mr. Carleton worked as a business development consultant in Toronto and New York in the risk management and index product fields. Mr. Carleton is a frequent panelist and presenter at market structure and trading technology events.

Lloyd Costley

Lloyd Costley

Chief Operating Officer, Raymond James Ltd.

Mr. Costley is the Chief Operating Officer of Raymond James Ltd., where he oversees administrative and operational functions, including information technology, finance, legal, human resources, securities operations, office services, credit, registrations and compliance. Mr. Costley is also a Director and serves on the Operating Committee of Raymond James Ltd. In his previous roles Mr. Costley served as a senior financial and operations executive with the Canadian Venture Exchange (now TSX Venture Exchange). Prior to that, Mr. Costley was Executive Vice President and Chief Financial Officer at the Vancouver Stock Exchange.

Charles Freedman

Charles Freedman

Independent Director

Mr. Freedman is currently Scholar in Residence in the Department of Economics and co-director of the Centre of Monetary and Financial Economics at Carleton University. Mr. Freedman served as a Deputy Governor at the Bank of Canada from 1988 to 2003 with responsibility for matters related to the design of monetary policy and issues regarding financial institutions and clearing and settlement systems. Mr. Freedman has served as a consultant to many central banks, focusing on both monetary policy questions and issues surrounding the organization and structure of central banks.

Glenn Goucher

Glenn Goucher

President

Mr. Goucher is President of The Canadian Depository for Securities Limited (CDS), Canada's national securities depository, clearing and settlement hub for equity, fixed income and money markets. Mr. Goucher is also President and Chief Clearing Officer of the Canadian Derivatives Clearing Corporation ("CDCC").

Bruce Macdonald

Bruce Macdonald

Head, Commodities for RBC Capital Markets; Co-CEO, RBC (Barbados) Trading Bank Corp

Mr. Macdonald is Head of Commodities for RBC Capital Markets and Co-CEO of RBC (Barbados) Trading Bank Corp. where he leads RBC’s Discretionary Capital Group in the Bahamas. Previously Bruce was Head of Wholesale Technology and Operations for RBC’s Capital Markets and Wealth Management business. Mr. Macdonald serves as Executive Vice President of Royal Bank of Canada and served as President of RBC Dominion Securities Inc., a Canadian brokerage firm, from 2005-2015.

John Mitchell

John Mitchell

Independent Director

Mr. Mitchell is a seasoned financial professional with many years of experience in major companies. Recent experience includes responsibility as Senior Vice-President Finance and Chief Accountant of the Bank of Nova Scotia for the financial management, reporting and control of the Bank's world-wide operations. More recent responsibility was as President of the offshore reinsurance and treasury operations of Scotiabank located in Barbados. Mr. Mitchell has served in Canada on a variety of Boards, including the major operating subsidiaries of Scotiabank in Canada covering mortgages, leasing, trust and insurance companies.

Wayne Ralph

Wayne Ralph

Executive Vice President, Global Operations and INTRIA, Canadian Imperial Bank of Commerce (CIBC)

Mr. Ralph has over 25 years' experience in the financial services industry, including a strong operations focus at 2 of Canada's leading financial institutions. Mr. Ralph is currently the Executive Vice President, Global Operations and INTRIA at Canadian Imperial Bank of Commerce. Mr. Ralph's previous role includes Managing Director, Infrastructure at CIBC's Global Operations team. As well a member of the senior management team at CIBC Wood Gundy. Before joining CIBC, Mr. Ralph was at RBC Dominion Securities as Vice President and Managing Director – National Securities Operations.

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