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Mar 01

The Role of Regulation in Retail Financial Services

Toronto ON, C.D. Howe Institute, 67 Yonge Street, Suite 300

Roundtable Luncheon with Raj Kothari, Hugh Moncrieff, Wendy Rudd, Ian Russell

Sponsored by:

Raj Kothari, Greater Toronto Area Managing Partner, PwC

Raj Kothari is the Managing Partner for the Greater Toronto Area for PricewaterhouseCoopers LLP and the Global Assurance Leader for Asset Management working in our Toronto office. He is also the National Practice Leader for the Asset Management Industry in Canada and a partner in our Audit and Assurance Group. Raj is also a member of PwC Canada’s Extended Leadership Team.

Over 30 years’ experience, with over 25 years in Canada, Raj has provided services to both large and small businesses relating to business assurance and advisory services, transaction support and business valuation services in the UK, India and Canada. He has particular experience advising clients in asset management and the fund industry specializing in mutual funds, pooled funds, hedge funds, structured products, venture capital funds, investment management companies, service providers and special purpose investment vehicles.

Raj graduated from the Advanced Management Program (AMP) at Harvard Business School and obtained an MBA from CASS, (the City University Business School), London, England. He also qualified as a chartered accountant from the UK and from Canada.

Raj is very active within the community and has served as President of the Indo Canada Chamber of Commerce, Chair of Stratford Festival Endowment Foundation and on various boards including Advancing Canadian Entrepreneurship, Duke of Edinburgh Awards–Ontario, Students in Free Enterprise-Canada, Pearson College of the Pacific, Artscape and the Stratford Festival.

He currently serves on the Board of Governors of the Toronto General Western Hospital Foundation (chair of its finance committee), the Toronto Region Board of Trade and Soulpepper Theatre Company.  He is also a member of the International Advisory Council of the Dean of the Schulich School of Business.

Hugh Moncrieff, Senior Vice President, Great-West Life

Hugh Moncrieff is responsible for the leadership and oversight of the independent distribution sales channel within GWL in Canada.   The Gold Key organization consists of approximately 1500 firms and 2500 advisors from coast to coast. The advisors who are within this network work primarily with business owners and affluent Canadians. In addition to traditional protection and accumulation products the Gold Key channel is among the largest employee benefit and pension plan distributors in the industry.

Hugh has been active within the financial services industry for over 25 years. He is a long standing member of Advocis as well as being President of the Winnipeg Chapter and is a member of CALU.

Currently Hugh is assigned to various Strategic and Public Policy and Regulatory Affairs matters within the Company and most recently he participated as a Task Force member on the CLHIA Distribution working group on Treating Customers Fairly.  

Hugh is married with two sons.

Wendy Rudd, Senior Vice President, Member Regulation & Strategic Policy, Investment Industry Regulatory Organization of Canada

Wendy Rudd is responsible for the management of IIROC’s business conduct and prudential oversight activities, including member regulation policy, business conduct compliance and financial & operations compliance.  In addition, Wendy is responsible for the execution of IIROC’s strategic initiatives, which currently include projects to implement surveillance of Canadian debt trading, and to support IIROC’s pending role as the Information Processor for Canadian corporate debt transparency.  

With extensive knowledge and experience in the field of equity market structure and electronic trading, Ms. Rudd has been a dedicated securities industry executive for more than 25 years.  Past positions include her role as Partner - Capital Markets for Capco, Chief Executive Officer at TriAct Canada Marketplace, and senior management roles in business development at ITG Canada, CIBC World Markets, and the Toronto Stock Exchange. She also served on the IIROC Board of Directors (2008-2009) and was most recently Senior Vice President, Market Regulation & Policy at IIROC.

Ms. Rudd holds a Bachelor of Mathematics degree in Computer Science from the University of Waterloo, and a Masters of Business Administration from Wilfrid Laurier University.

Ian Russell, President and CEO, Investment Industry Association of Canada

Ian Russell is President and Chief Executive Officer of the Investment Industry Association of Canada (IIAC), a position he has held since its inauguration in April 2006.

Prior to his appointment at the IIAC, Mr. Russell was Senior Vice-President, Industry Relations and Representation, at the Investment Dealers Association of Canada (IDA).

In his 20-year tenure with the IDA and the IIAC, he has participated actively in many committees and working groups involved in regulatory and tax issues related to the securities industry and capital markets in Canada.

He is a frequent commentator in the media, a regular columnist in industry publications and a sought-after presenter and speaker on industry issues and developments.

In January 2014, Mr. Russell was appointed Chair of the International Council of Securities Associations (ICSA). He is the first Canadian in 20 years to serve in this capacity.

Mr. Russell has an Honours degree in Economics and Business from the University of Western Ontario, and a postgraduate degree (MSc Economics) from the London School of Economics and Political Science. He has completed the Partners, Directors and Seniors Officers Qualifying Examination and is a Fellow of the Canadian Securities Institute.


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