The Financial Services Regulatory Authority of Ontario (FSRA) has added Ali Salahuddin (pictured) to its board of directors.
Salahuddin is joining the FSRA board for a two-year term, according to the announcement made by Joanne De Laurentiis, the board’s chair.
“Ali Salahuddin brings strong expertise and career experience in the financial services sector,” said De Laurentiis. “His insights and experience in risk management, audit/finance, strategy, and governance will add depth to the Board and greatly benefit the FSRA organization.”
Salahuddin has 27 years of experience in financial markets. His background includes key senior executive positions at renowned global financial institutions such as Citigroup, Merrill Lynch (now Bank of America Merrill Lynch), Bank of Nova Scotia, Royal Bank of Canada, Manulife, and Laurentian Bank.
Salahuddin serves as the founder and president of executive coaching firm AS Management Corp. He holds a Chartered Investment Manager (CIM) designation and a Certified Corporate Director (ICD.D) certification.
Salahuddin’s appointment comes after Lucie Tedesco joined the FSRA board in July.
Tedesco has three decades of experience in the financial sector, including time spent as commissioner and deputy commissioner of the Financial Consumer Agency of Canada. Her expertise encompasses financial sector policy and regulation, governance, risk management, law, strategy and operations, and consumer protection.
In other FSRA news, the regulator recently announced the formation of a technical advisory committee dedicated to the non-auto property and casualty (P&C) insurance sector.
This new 14-member committee aims to provide input on supervision priorities and key risk areas within the sector. It will also support FSRA’s broader objective of enhancing supervision and staying informed about sector trends and risks.
“This collaboration will provide a measured and predictable regulatory environment for the P&C sector,” said Beata Morris, director of market conduct for P&C insurance. “It also provides us with an opportunity to hear about the latest trends and developments within the insurance industry.”
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