Board of Directors

Chair

David F. Denison
President and Chief Executive Officer
CPP Investment Board
Toronto, Ontario
Board Member since June 23, 2005
Board Chair since June 4, 2009
Chair of the Governance and Nominating Committee
Treasurer

David F. Denison is head of the CPP Investment Board which is responsible for managing the assets of the Canadian Pension Plan on behalf of 17 million Canadians. Mr. Denison has had an extensive career in financial services within Canada, the United States and Europe, with firms including Fidelity Management, Merrill Lynch, S.G. Warburg, Midland Walwyn and Mercer Consulting.

He is a current director of York University, The Canadian Coalition for Good Governance, the Investment Industry Regulatory Organization of Canada, The United Way of Greater Toronto and the Investment Committee for the Toronto Community Foundation.

Vice Chair

Barbara Palk
President 
TD Asset Management
Toronto, Ontario
Board Member since June 11, 2007
Vice Chair of the Public Policy Committee

Barbara Palk is President of TD Asset Management Inc. and Senior Vice President, TD Bank Financial Group. After a decade of investment experience at two leading investment dealers, she joined TD in 1990 to create and build the institutional investment management business. She currently oversees over $175 billion in assets in TDAM's investment management businesses.

Barbara was honoured as a recipient of the Ontario volunteer Award. She has served as a director of UNICEF Canada, a director of CanStage, Secretary-Treasurer and Vice President of The Ticker Club, director of the Investment Counselling Association of Canada, and as a member of the Council of Examiners for The CFA Institute. Currently, she is Vice Chair of the Queen's University Investment Committee, is a member of the Finance Committee and a member of the Board of Trustees for Queen's University, member of the Boards of The Shaw Festival, Canadian Coalition for Good Governance and Greenwood College School. She is a member of the Toronto Society of Financial Analysts.

Ms. Palk received an Honours Bachelor of Arts Economics degree from Queen's University, is a Fellow of the Canadian Securities Institute and a CFA Charterholder.

Director

Dan Chornous
Chief Investment Officer
RBC Asset Management
Toronto, Ontario
Board Member since December 11, 2007
Chair of the Public Policy Committee

Dan Chornous is Chief Investment Officer of RBC Asset Management, Canada’s largest single mutual fund family, with over $84 billion in domestic and global equity and fixed income mandates, including the Royal Mutual Funds group of products. Effective May 1, 2008, Dan was also named Chief Investment Officer, Phillips, Hager & North following its merger with RBC AM, a combination that boosted total assets under management to $160 billion. Dan is responsible for the overall direction of investment policy and fund management. In addition, he chairs the RBC Investment Strategy Committee, the group responsible for global asset mix recommendations and global fixed income and equity portfolio construction for use in RBC Investments’ key client groups including RBC Funds, International Wealth Management, RBC Dominion Securities and RBC Private Counsel. Dan serves on the Board of Directors of the Canadian Coalition for Good Governance and is also chair of its Public Policy Committee.

Prior to joining RBC Asset Management in November 2002, Dan was Managing Director, Capital Markets Research and Chief Investment Strategist at RBC Capital Markets. In that role, he was responsible for developing the firm’s outlook for global and domestic economies and capital markets as well as managing the firm’s global economics, technical and quantitative research teams.

Dan was born and raised in Winnipeg, Manitoba, Canada. He graduated from the University of Manitoba with a Bachelor of Commerce (Honours) in 1980 and holds the Chartered Financial Analyst designation (1985).

Director

Gordon J. Fyfe
President & Chief Executive Officer
PSP Investments
Montreal, Quebec
Board Member since April 3, 2007

Gordon J. Fyfe joined the PSP Investment Board (PSPIB) as President and Chief Executive Officer in October 2003.

Before Joining PSPIB, Mr. Fyfe had served as President of World Markets at CDP Capital since March 2002. From 1992 to 2002, Mr. Fyfe was President and Chief Operating Officer of TAL International, a division of TAL Global Asset Management. Prior to joining TAL International, from 1986 to 1992, Mr. Fyfe was Vice President at JP Morgan in London, England.

Mr. Fyfe received his MBA from INSEAD in 1986.

Director

Emilian Groch
Chief Executive Officer
Alberta Teachers' Retirement Fund Board
Edmonton, Alberta
Board Member January 23, 2003 to June 23, 2005
Board Member since June 28, 2006
Chair of the Member Engagement Committee

Emilian Groch joined the Alberta Teachers' Retirement Fund Board (ATRF) in 1994 as Chief Executive Officer and is responsible for the operation and management of ATRF. ATRF provides retirement benefits, information services and asset management for the teachers of Alberta.

Mr. Groch was the Alberta Superintendent of Pensions from 1984 to 1994 and has worked in the pension industry for 30 years. He is Chair of the Government Relations Committee of the Pension Investment Association of Canada, Vice-Chair of the Actuarial Standards Oversight Council and Chair of the Edmonton Firefighters' Supplementary Pension Plan Committee.

He obtained a B.Sc. Honours (Applied Mathematics in Statistics) from the University of Alberta and is an Institute-Certified Director of the Institute of Corporate Directors.

Director

Stephen A. Jarislowsky
Chief Executive Officer
Jarislowsky Fraser Limited
Montréal, Québec
Board Member since January 23, 2003

Stephen A. Jarislowsky is the former President and current Chairman and Chief Executive Officer of Jarislowsky Fraser Limited, a firm he started 52 years ago. Over that time, he has directed the growth of the company to become one of the largest and most successful investment management firms in Canada. Throughout his career, Mr. Jarislowsky has been a strong advocate for shareholder rights.

Mr. Jarislowsky has been active in other corporations, participated in educational, cultural and charitable activities of many kinds, endowed twenty-one University S.A. Jarislowsky Chairs and contributes frequently to television, radio, magazines and newspapers. He is the recipient of the International Entrepreneurial Award from the University of Manitoba.

Current public board directorships include Goodfellow Inc. where he is the Chair.

Mr. Jarislowsky was named a Fellow of the Institute of Corporate Directors in June 2006 and was inducted into the Canadian Business Hall of Fame in May 2007.

Mr. Jarislowsky has B.Sc. Mech. Engineering from Cornell University along with an MA with Phi Beta Kappa Honours from the University of Chicago and a MBA from Harvard University. He is a recipient of the Companions of the Order of Canada, a Grand Officer de l’ Ordre National du Québec, Honorary LL.D. from Queen’s University, University of Alberta, Université de Montréal, McMaster University, Concordia University, Assumption University, l’ Université Laval, Simon Fraser University, McGill University, University of Ottawa and University of Quebec.

Director

Wayne Kozun
Senior Vice President, Public Equities
Ontario Teachers' Pension Plan
Toronto, Ontario
Board Member since June 16, 2008

Wayne Kozun leads the team that oversees the fund’s actively-managed public equities portfolios, including relationship investing. The group also uses a variety of external managers to give the fund exposure to international equity markets. As well, the equities team monitors the corporate governance practices of the companies in which Teachers' invests.

Mr. Kozun joined Teachers’ in 1995 and has risen steadily through positions of growing responsibility, most recently as Vice-President, Tactical Asset Allocation. He received a Bachelor of Engineering Science from the University of Western Ontario and an MBA from the Richard Ivey School of Business., Tactical Asset Allocation. He received a Bachelor of Engineering Science from the University of Western Ontario and an MBA from the Richard Ivey School of Business.

Director

Doug Pearce
Chief Executive Officer and Chief Investment Officer 
British Columbia Investment Management Corporation (bcIMC)
Victoria, British Columbia
Board Member since June 23, 2005
Member of the Governance and Nominating Committee

Doug Pearce leads the British Columbia Investment Management Corporation (bcIMC) which is responsible for managing an $80 billion global portfolio of assets on behalf of public sector pension funds, insurance funds and trust funds in British Columbia.

Doug is a former Chairman of the Canadian Coalition for Good Governance, a past Chairman and past director of the Pacific Pension Institute based in San Francisco and a past Director and Chairman of the Pension Investment Association of Canada (PIAC). He is also a member of the University Of British Columbia Sauder School of Business, Faculty Advisory Board.

He is a graduate of the University of Calgary.

Director

Donald F. Reed
President & Chief Executive Officer
Franklin Templeton Investments Corp.
Toronto, Ontario
Board Member since January 23, 2003
Member of the Governance Committee

Donald F. Reed, President and Chief Executive Officer of Franklin Templeton Investments Corp., as well as Chief Executive Officer of Templeton Investment Counsel, LLC, is responsible for managing international global portfolios and currently manages institutional accounts in addition to a retail mutual fund for Templeton. Mr. Reed is also President, Chief Executive Officer, and a director of Templeton Growth Fund, Ltd. In addition, he is a director of Templeton Worldwide, Inc. and serves on the Executive Committee of Franklin Resources, Inc.

Prior to joining Templeton in 1989, Mr. Reed was President and Director of Reed Monahan Nicolishen Investment Counsel, a pension fund investment management company based in Toronto. He was President of the Toronto Society of Financial Analysts in 1983. In 1985, Mr. Reed was elected a director of the Financial Analysts Federation and has served on the executive committee of that organization. He was also a co-founder of the International Society of Financial Analysts. In 2000, Mr. Reed was the recipient of the Thomas L. Hansberger Award for Leadership in Global Investing. He is currently a director of the Canadian Coalition for Good Governance and the Investment Funds Institute of Canada, and he also serves on the Board of Governors for Acadia University.

Mr. Reed earned a B.Com. from Acadia University. In 1980, he became a Chartered Financial Analyst (CFA) Charterholder. Mr. Reed is also a Chartered Investment Counsellor (CIC).

Director

Kim Shannon
President & Chief Investment Officer
Sionna Investment Managers
Toronto, Ontario
Board Member since June 11, 2007
Chair of the Accounting and Auditing Committee

Kim founded Sionna in the summer of 2002, and has 25 years of investment management experience.

Kim is a past President of the Toronto CFA Society and is currently on the Boards of the Canadian Coalition for Good Governance, the Accounting Standards Oversight Committee and Chair of the CFA Institute's Financial Analysts Seminar. Kim was awarded the Morningstar Fund Manager of the Year for 2005. Kim was also awarded the RBC Canadian Woman Entrepreneur Award and the WXN’s Canada’s Most Powerful Women Top 100 Award in 2007.