[News](https://www.payments.ca/insights/news-research?field_article_type=24) # Payments Canada elects four to Board of Directors July 25, 2018 **OTTAWA, July 25, 2018** – Payments Canada has elected Mike Henry and re-elected Eileen Mercier, Lib Gibson and Malcolm Knight to its Board of Directors, effective June 21, 2018. ![](https://www.payments.ca/sites/default/files/mhenry.jpg)Adding to a roster of technology, transformation and payments experts, Payments Canada’s newest board member, Mike Henry, brings a deep understanding of data from a customer, business and regulatory perspective. Mike was appointed Executive Vice President and Chief Data Officer for Scotiabank in November 2017, where he was responsible for the creation of an enterprise-wide data strategy for the bank and a governance operating model that manages risk and enables the organization’s business priorities. The re-elected directors to Payments Canada’s Board include: - **Eileen Mercier — Board Chair and Independent Director.** A professional director, including Chair of the Ontario Teachers' Pension Plan Board from 2007 to 2014, Mercier’s career encompasses more than 40 years of general management experience. - **Malcolm Knight — Deputy Chair and Independent Director**. An economist, banker and policymaker, Knight served as General Manager and Chief Executive Officer of the Bank for International Settlements, Senior Deputy Governor of the Bank of Canada, and in senior positions at the International Monetary Fund. - **Lib Gibson — Independent Director**. Gibson is an Independent Innovation Specialist, Educator and Director. She formerly served as CEO of Bell Globemedia Interactive. Gibson currently serves on the Cogeco board, and has formerly served on boards in various capacities including ING Direct Bank of Canada, Computershare, and Digital Technology International. “The expertise of these four individuals is crucial at this point on the payments modernization journey as we transition into the execution phase,” said Gerry Gaetz, President & CEO of Payments Canada. “‘Our knowledgeable, experienced and engaged board continues to provide Payments Canada management with support and direction critical to our success.” The Payments Canada Board of Directors is composed of 12 elected directors (seven independent directors and five directors selected from Payments Canada’s network of member financial institutions), and Payments Canada’s President and CEO, Gerry Gaetz. As part of Payments Canada’s governance framework, a certain number of Board positions come up for election each year during the annual meeting of members. Eligibility criteria for directors, including independence requirements, are set by the [Canadian Payments Act](http://laws-lois.justice.gc.ca/eng/acts/C-21/FullText.html), its regulations and Payments Canada’s guidelines. Read more about Payments Canada’s [Board of Directors](https://www.payments.ca/about-us/governance-risk/board-directors). In a [separate announcement](https://www.payments.ca/node/7201?_ga=2.192766890.10464236.1532377078-1140735816.1518191869), Payments Canada is pleased to share changes to its Stakeholder Advisory Council (SAC), as well as its Member Advisory Council (MAC). **About Payments Canada** Payments Canada ensures that financial transactions in Canada are carried out safely and securely each day. The organization underpins the Canadian financial system and economy by owning and operating Canada’s payment clearing and settlement infrastructure, including associated systems, bylaws, rules and standards. The value of payments cleared by Payments Canada’s systems in 2017 was approximately $50 trillion or $200 billion every business day. These encompass a wide range of payments made by Canadians and businesses involving inter-bank transactions, including those made with debit cards, pre-authorized debits, direct deposits, bill payments, wire payments and cheques. Payments Canada is a proud supporter of the Catalyst Accord and The 30% Club. For media inquiries, please visit the [Media Centre](https://www.payments.ca/about-us/media-centre). --- [Return to newsroom](https://www.payments.ca/insights/news-research) ## Keep reading [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News October 1, 2026 ### Payments Canada welcomes six new members as expanded membership... Twenty-two new members have joined since 2025 regulatory changes — a necessary step for those seeking access to critical national payment infrastructure, including the forthcoming Real-Time Rail... ](https://www.payments.ca/payments-canada-welcomes-six-new-members-expanded-membership-eligibility-reaches-one-year-milestone)[Learn more](https://www.payments.ca/payments-canada-welcomes-six-new-members-expanded-membership-eligibility-reaches-one-year-milestone) [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News September 25, 2026 ### Payments Canada names Stephan Orzechowski as Vice President... Payments Canada is pleased to announce the appointment of Stephan Orzechowski as Vice President, Strategic Partnerships and Business Transformation. Stephan will lead strategic vendor partnerships... ](https://www.payments.ca/payments-canada-names-stephan-orzechowski-vice-president-strategic-partnerships-and-business)[Learn more](https://www.payments.ca/payments-canada-names-stephan-orzechowski-vice-president-strategic-partnerships-and-business) [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News July 27, 2026 ### ACSS rule changes enhance payment system processes Updates provide expanded definitions and process efficiency Payments Canada has implemented a series of administrative and operational amendments to the Automated Clearing Settlement System (ACSS)... ](https://www.payments.ca/acss-rule-changes-enhance-payment-system-processes)[Learn more](https://www.payments.ca/acss-rule-changes-enhance-payment-system-processes)