Windsor-Detroit Bridge Authority announces formation of its Capital Markets Advisory Panel
WINDSOR, ONTARIO – Today, Windsor-Detroit Bridge Authority (WDBA) announced that four respected Canadian financial executives have agreed to serve as members of the WDBA Capital Markets Advisory Panel.
As WDBA takes concrete steps to initiate the procurement of the public-private partnership to design, build, finance, operate and maintain the new bridge, WDBA is undertaking a review of financing and strategic opportunities available in the current Public-Private Partnership (P3) marketplace. The new Capital Markets Advisory Panel has been established by the WDBA’s Board of Directors to provide independent counsel to the Board relating to the financing strategy associated with the New International Trade Crossing (NITC) project.
“We are grateful that these seasoned professionals have agreed to help us ensure that 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.”
“I welcome the appointment of this financial advisory panel as 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, WDBA has made great strides on the New International Trade Crossing project. Our government looks forward to further progress over the coming months.”
The members of the WDBA Capital Markets Advisory Panel are:
Donald A. Wright, Chair
Mr. Wright 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.
Mr. D’Alessandro was President and Chief Executive Officer of Manulife Financial Corporation from 1994 to 2009. Prior to this appointment he held a number of executive positions with financial institutions, an international engineering firm and a public practice accounting firm. He currently serves on the board of directors of CGI Group Inc. and Suncor.
Ms. Kennedy is CEO of Promontory Financial Group Canada ULC. She served as Deputy Governor of the Bank of Canada from 1994 to 2008 and chaired the Markets Committee at the Bank for International Settlements from 2003 to 2006. Prior to her service at the Bank of Canada, Ms. Kennedy worked for the Department of Finance was also finance counselor at the Canadian Embassy in Paris. 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
Mr. Kostoff 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.
About the Windsor-Detroit Bridge Authority
Windsor-Detroit Bridge Authority (WDBA) is a not-for-profit Canadian Crown corporation created to manage the procurement process for the design, construction, financing, operation and maintenance of the new Gordie Howe International Bridge between Windsor, Ontario and Detroit, Michigan through a public-private partnership (P3). WDBA is also responsible for project oversight. For more information on WDBA visit www.gordiehoweinternationalbridge.com and follow WDBA on Twitter at www.twitter.com/wdbabridge.
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For more information, please contact Windsor-Detroit Bridge Authority at 519-946-4859.