Mike Pedersen

The board of directors of the Business Development Bank of Canada (BDC) has a new chair, financial industry executive Mike Pedersen. Pedersen will succeed former chair Samuel Duboc and will hold a term of four years starting March 5, 2018. Robert Pitfield, a member of the board since May 2014, will be the interim chair until March. Before this appointment, Pedersen served as president and CEO of TD Bank in the US, and occupied senior leadership positions, including group head for TD Bank Group’s wealth and insurance businesses. He also worked as managing director for Barclays Bank in London, UK, and senior executive vice-president of retail and small business banking for CIBC. Pedersen once assumed the chair of the Canadian Bankers Association and has served on boards in the private and not-for-profit sectors.