Windsor-Detroit Bridge Authority Forms Capital Markets Advisory Panel
Friday March 6th, 2015
Posted at 11:14am
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The Windsor-Detroit Bridge Authority has appointed four Canadian financial executives to serve as members of the Capital Markets Advisory Panel.
The new Capital Markets Advisory Panel has been established to provide independent counsel to the Board relating to the financing strategy associated with the New International Trade Crossing project.
“We are grateful that these seasoned professionals have agreed to help us ensure that the WDBA will ultimately structure and deliver an effective financing strategy for the benefit of both the people and economy of Canada,” said Mark McQueen, Chair of the WDBA Board of Directors. “With the assistance of our professional advisory team, these four independent experts will work with us to ensure that no stone is unturned as we undertake this multi-billion dollar project.”
The members of the WDBA Capital Markets Advisory Panel are Donald A. Wright, Chair who is the former Chairman and CEO of TD Securities Inc. and Deputy Chair of TD Bank Financial. He has significant public service experience including as Chair of VIA Rail Canada, Governor of the Royal Ontario Museum and as a Director of Sick Children’s Hospital Foundation.
Dominic D’Alessandro, was President and Chief Executive Officer of Manulife Financial Corporation from 1994 to 2009. He currently serves on the board of directors of CGI Group Inc. and Suncor.
Sheryl Kennedy, who is CEO of Promontory Financial Group Canada ULC. She currently sits on the boards of the Canadian Public Accountability Board, the General Synod Pension Plan of the Anglican Church of Canada and HIPPY Canada.
Richard J. Kostoff, who is the founder and Chair of Temple Rock Holdings Inc. He currently sits on the board of the Ontario Finance Authority, the OCAD Foundation Board and is the Chair of Theatrefront, a non-profit group.
“I welcome the appointment of this financial advisory panel as the WDBA looks to maximize the benefits of the Public-Private Partnership,” said the Honourable Lisa Raitt, Minister of Transport. “Since it began its work six months ago, the WDBA has made great strides on the New International Trade Crossing project. Our government looks forward to further progress over the coming months.”
The Windsor-Detroit Bridge Authority is a not-for-profit Canadian Crown Corporation and will manage the procurement process for the design, construction, operation and maintenance of the new bridge between Windsor, Ontario and Detroit, Michigan through a public-private partnership.
In addition they are also responsible for overseeing and managing the construction and operation of the new crossing and, as the operator of the new bridge, it will set and collect all tolls.