IFIC appoints new CEO

In a surprise move, IFIC has reached outside of the mutual fund world for its new president, appointing Joanne De Laurentiis, head of Credit Union Central of Canada. She replaces Tom Hockin, who is retiring. Her appointment takes effective January 16, 2006, IFIC confirmed on Monday in a statement.

“I am delighted to welcome Joanne to our organization,” said Brenda Vince, chair of the IFIC board. “Our board of directors has endorsed a strong agenda for change to ensure that IFIC continues to contribute fully to a vibrant and growing industry. A key part of that renewal means having the right leadership in place — a process that began in September with the appointment of a more senior group of industry leaders to our board. The selection of Joanne De Laurentiis as our CEO represents another positive step forward for our organization.”

“While we had many high calibre and quality candidates, the board unanimously agreed that Joanne was the right person to lead IFIC at this time,” Vince added. “Her proven track record in working with multiple stakeholders and regulators and her commitment to communication and dialogue will serve our board, our members and the investing public very well in the years ahead.”

De Laurentiis has 25 years of financial services experience. Before Credit Union Central of Canada, she headed Mondex Canada and the Interac Association. She also served as vice president, public affairs, for the Canadian Bankers Association.

She represents the credit union system on the boards of the Canadian Payments Association and the Interac Association and is a member of the Equifax Advisory Council.

Vince also acknowledged outgoing CEO Tom Hockin’s contributions to the mutual fund industry. “Tom has presided during a time of unprecedented growth and change in Canada’s investment fund industry, and I want to thank him for his 11 years of dedication and service to the association.”

Filed by Doug Watt, Advisor.ca, doug.watt@advisor.rogers.com