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Board of Directors and Corporate Governance

Bruce Macdonald

Bruce Macdonald

Independent Director

Mr. Macdonald has extensive experience in the financial services industry and corporate governance. Most recently, he was Head of Commodities for RBC Capital Markets and Co-CEO of RBC (Barbados) Trading Bank Corp. where he led RBC’s Discretionary Capital Group in the Bahamas. Previously, he was Head of Wholesale Technology and Operations for RBC’s Capital Markets and Wealth Management businesses. Mr. Macdonald was Chief Operating Officer for RBC Capital Markets and a member of the RBC Capital Markets Operating Committee, a role he held for 12 years. He was an Executive Vice President of Royal Bank of Canada and served as President of RBC Dominion Securities Inc. from 2005 – 2015.

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.

Marie-Claude Beaulieu

Marie-Claude Beaulieu

Independent Director

Dr. Marie-Claude Beaulieu is full professor of finance and RBC Chair in Financial Innovations at the Universite Laval. She obtained her Ph.D. from Queen's University and has been associated with Laval ever since, being promoted to full professor in 2002. Dr. Beaulieu is a fellow of an interuniversity public policy research centre (Centre de recherche sur le risque, les politiques economiques et l'emploi), and has published numerous academic papers in finance.

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.

Patrick Cronin

Patrick Cronin

Chief Risk Officer, BMO Financial Group

Mr. Cronin was appointed Chief Risk Officer, BMO Financial Group, in November 2018. In this role, he is responsible for providing independent review and oversight of enterprise-wide risks and leadership on risk issues, developing and maintaining a risk management framework and fostering a strong risk culture across the enterprise. Most recently, Mr. Cronin was CEO & Group Head of BMO Capital Markets, responsible for BMO Financial Group’s interactions with corporate, government and institutional clients. Prior to that, Mr. Cronin was President & Chief Operating Officer of BMO Capital Markets where he had first line oversight of all balance sheet and risk management activity, international operations, and regulatory and compliance functions. Mr. Cronin also serves on the Ivey Advisory Board, and is a Campaign Cabinet member of the SickKids Foundation.

Luc Fortin

Luc Fortin

President and Chief Executive Officer of the Montréal Exchange (MX) and Global Head of Trading with TMX Group

Mr. Fortin is President and Chief Executive Officer of the Montréal Exchange (MX) and Global Head of Trading with TMX Group. Focused on leading growth in the areas of TMX derivative, fixed income, private markets and equity trading businesses, Luc helps to deliver a best-in-class experience to trading clients, developing and offering new product solutions.

George Kormas

George Kormas

President, CDCC

Mr. George Kormas is President of CDCC. He is a long-time TMX employee with over 20 years of experience in the post-trade business and a proven track record of balancing commercial, risk management and regulatory needs. Prior to his current role, he was Vice-President, Chief Risk Officer for CDCC and Chief Risk Officer for CDS with responsibility for the overall risk profile and risk management operations for the two clearinghouses.

Mr. Kormas holds a Master of Science in Finance (MSc) from Concordia University, Montreal.

Peter Krenkel

Peter Krenkel

Independent Director

Mr. Krenkel has been involved with clearing and settlement of energy commodity contracts for over 20 years. Most recently he was the President of NGX (“Natural Gas Exchange”), wholly owned by the TMX Group since 2005, which provided trading, clearing, settlement and index determination services for the energy market participants in North America. Since its inception in 1994, NGX evolved into a recognized exchange and clearing facility in both Canada and the United States. During this evolution, NGX developed in-house energy clearing and settlement systems supported by an efficient capitalization structure which provided its customers with a fair, efficient and secure marketplace.

Paul Langill

Paul Langill

Independent Director

Mr. Langill is the Chief Financial Officer of Alberta Investment Management Corporation. Previously, Mr. Langill was the Special Advisor to the Chairman and Chief Executive Officer, TD Securities, and prior to that was the Executive Vice-President of TD Bank Group and the Chief Operating Officer of TD Securities where he was responsible for overseeing global governance, the initiatives portfolio, operations and technology services. Prior to his COO role, Mr. Langill was Senior Vice-President, Trading Risk, Risk Management, TD Bank Group, responsible for setting market risk policies, proactively identifying, measuring and monitoring markets risks within the organization, and providing analytical modelling expertise. Prior to his Trading Risk role, Paul was the Chief Financial Officer of TD Securities and he held senior positions with TD’s Treasury & Balance Sheet Management group. Prior to joining TD Bank Group, Paul was a partner in Ernst & Young's Capital Markets Practice, and is a CPA, CA.

Bryan Osmar

Bryan Osmar

Independent Director

Until his retirement in 2015, Mr. Osmar spent 35 years with the Royal Bank of Canada in a range of roles in Treasury, Capital Markets and Risk Management in Toronto and New York. He was most recently Managing Director and Head, Market Infrastructures with responsibility for implementing RBC Capital Markets regulatory reform initiatives in a range of areas and jurisdictions including the global OTC derivatives area. He currently serves as Director on the Boards of CLS Bank International and CLS Holdings AG. He obtained his MA (Economics) from Queen’s University in 1981.

Kevin Sampson

Kevin Sampson

President, CDS

Mr. Sampson is President of CDS. Kevin has over 20 years of capital markets experience managing high-performing teams across multiple functions and business areas, including sales and business development, operations, customer support and product development. His collaborative, client-centric approach has enabled Kevin to achieve positive business results while building long-term, trusted relationships with peers and stakeholders across the industry. Most recently, Kevin was President, Equity Trading for TMX Group Inc. where he managed the trading businesses of Canada's premier equity exchanges (Toronto Stock Exchange, TSX Venture Exchange and TSX Alpha Exchange).

Carol Wilding, FCPA, FCA

Carol Wilding, FCPA, FCA

Independent Director

Ms. Wilding is President and CEO of the Chartered Professional Accountants of Ontario. She leads the qualifying and regulatory body of Ontario’s 93,000 CPAs and 22,600 CPA students. She joined at a historic juncture for the profession, integrating the three legacy accounting bodies (CA, CGA and CMA). The former head of the Toronto Region Board of Trade (TRBT), Mount Sinai Hospital Foundation and Plan Canada, Ms. Wilding was named to the Top 100 list of Canada’s Most Powerful Women. Ms. Wilding currently serves as director for the Sunnybrook Hospital Foundation and Luminato Festival.