Richard Nesbitt has today been announced as new president and chief executive of the Global Risk Institute in Financial Services (GRI), a not-for-profit institute which provides applied, integrative research and education programmes to public and private sector organisations across Canada.
Nesbitt will take up his new role on Friday, 1 May, and will replace Dr. Michel Maila, who is retiring after three years in the role.
GRI was founded by the Government of Canada, the Province of Ontario, TD Bank Group and insurance and financial services provider Manulife in 2011, and currently has 27 member institutions from the financial services sector across Canada.
GRI, which is part-funded by the Government of Canada, advises financial institutions, policy-makers and regulators on how to better manage the balance between risk and opportunity by delivering applied research and education programs that build risk capacity and stimulate evidence-based debate for its members and the wider global financial community.
Nesbitt said: “GRI has grown significantly since its inception four years ago. From our strong Canadian base we have the opportunity to build upon GRI’s accomplishments and to further our reach globally.”
Chair of GRI Paul Cantor said: “I am delighted that an individual of Richard’s caliber has agreed to become our new President and CEO.
“Richard has experience of working at the highest level in financial services, as well as teaching and research. Together with his wider commitment to public service, I am sure he will be an outstanding president and chief executive officer as we seek to continue to grow GRI and build upon our recent successes.”
He added that “Michel Maila has led GRI from a start-up to a successful organization, and we are most grateful to him for his excellent contribution over the past three years. We look forward to a continuing association with Michel which will enable us to tap in to his vast risk management expertise.”