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Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

First Session Thirty-sixth Parliament, 1997-98

Chairman: The Honourable MICHAEL KIRBY

Toronto, Tuesday, November 3, 1998

Issue No. 37

Fifty-third and fifty-fourth meetings on: Examination of the present state of the financial system in Canada (Task Force on the Future of the Canadian Financial Services Sector)

WITNESSES:

Morning Session

From the Association of Schedule II Banks:

Mr. Gennaro Stammati, President and Chief Executive Officer, Banca Commerciale Italiana of Canada;

Mr. Harvey S. Naglie, President and Chief Executive Officer, Bankers Trust;

Mr. Theo J. Bark, President and Chief Executive Officer, ABN-AMRO Bank Canada;

Mr. William Randle, Assistant General Counsel and Foreign Bank Secretary, Canadian Bankers Association; and

Mr. Jeffrey S. Graham, Borden & Elliot.

From the Trust Companies Association of Canada:

Mr. Gerald Soloway, Chairman, Trust Companies Association of Canada and Chairman, President and Chief Executive Officer, Home Savings & Loan Corporation;

Mr. Warren Hannay, President and Chief Executive Officer, Peace Hills Trust;

Mr. Glen King, Vice-President and Chief Financial Officer, Fortis Trust; and

Mr. Joseph Chertkow, Director, Legislation and Policy, Trust Companies Association of Canada.

From First Annapolis Consulting:

Mr. Frederick A. White, President.

As an individual:

Mr. Michael Mackenzie.

Afternoon Session

From the Office of the Superintendent of Financial Institutions:

Mr. John Palmer, Superintendent; and

Mr. Nick Le Pan, Deputy Superintendent, Supervision.

From the Canadian Imperial Bank of Commerce:

Mr. Al Flood, Chairman and Chief Executive Officer; and

Mr. Holger Kluge, President of Commercial Banking.

From the Deutsche Bank Canada:

Mr. Nicholas Zelenczuk, President and Chief Executive Officer; and

Ms Michele McCarthy, Chief Legal Officer and Corporate Secretary.

As an individual:

Dr. Joseph Wong.

MEMBERS OF COMMITTEE

The Honourable Michael Kirby, Chairman

The Honourable David Tkachuk, Deputy Chairman

and

The Honourable Senators:

Angus, Austin, P.C., Callbeck, *Graham, P.C. (or Carstairs), Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kolber, Kroft, *Lynch-Staunton (or Kinsella (acting)), Meighen, Oliver

* Ex Officio Members

(Quorum 4)

Change in membership of the committee:

Pursuant to rule 85(4), membership of the committee was amended as follows:

The name of the Honourable Senator Kolber substituted for that of the Honourable Senator Poy. (November 3, 1998)

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