Element Financial Corporation announced that Mr. William W. Lovatt and Mr. Richard E. Venn have been appointed to the company's board of directors effective December 16, 2014. Mr. Lovatt brings to the company board nearly 40 years of investment and senior management expertise. Mr. Lovatt acts as Executive Vice President and Chief Financial Officer of Great-West Lifeco Inc., Great-West Life Assurance Company, London Life Insurance Company and Canada Life Assurance Company.
Mr. Venn joins company's board following a 40-year career with the Canadian Imperial Bank of Commerce where he led CIBC's investment banking and merchant banking operations. Mr. Venn served for seven years as the Chairman and CEO of CIBC's Canadian dealer and led CIBC's Corporate Development Group for more than a decade
Mr. Venn is a director of The Bank of N.T. Butterfield & Sons Ltd. He currently serves on the Foundation Board of Mount Sinai Hospital and is Chair of the United Jewish Federation of Toronto. Mr. Lovatt will join company's Audit Committee, along with current director Joan Lamm-Tennant and existing Audit Committee Chair Harold Bridge, as well as the Credit Committee. Mr. Venn will Chair company's Risk Committee and will also join the Compensation and Corporate Governance Committee. The company also announced that Mr. Phil Arthur and Mr. Stephens Lowden have retired from the company's board of directors.