Appointment of New President and Chief Executive Officer of Export Development Canada

(No. 379 - December 1, 2010 - 12:30 p.m. ET) The Honourable Peter Van Loan, Minister of International Trade, today announced the appointment of Stephen Poloz as President and Chief Executive Officer of Export Development Canada (EDC).

“Mr. Poloz is a widely recognized economist with nearly 30 years of experience in financial markets, forecasting and economic policy. He spent nearly 25 of those years in the public sector,” said Minister Van Loan. “His experience makes him an ideal candidate to lead EDC into the future as it continues to offer Canadian businesses its unique blend of financial services.”

Mr. Poloz joined EDC in 1999, serving as chief economist. He took on an additional role, senior vice-president, corporate affairs, in 2004. In 2008, he was promoted again to senior vice-president, financing. Prior to joining EDC, Mr. Poloz spent three years with BCA Research in Montreal and 14 years with the Bank of Canada. He has a PhD in economics from the University of Western Ontario.

Mr. Poloz succeeds Eric Siegel, whose retirement from EDC after 32 years of service was announced in April.

“During his many years with EDC, Mr. Siegel made an enormous contribution to the organization and, by extension, to Canadian exporters and the Canadian economy. I wish to thank him publicly for his first-class effort,” said Minister Van Loan.

EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by more than 8,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting and economic analysis.

- 30 -

For further information, media representatives may contact:

Monika Bujalska
Press Secretary
Office of the Honourable Peter Van Loan
Minister of International Trade

Trade Media Relations Office
Foreign Affairs and International Trade Canada