Alberta Energy Minister Marg McCuaig-Boyd today announced the appointment of ATB Financial’s President and CEO Dave Mowat to lead the Alberta NDP’s royalty review panel.
McCuaig-Boyd is giving Mowat the responsibility to appoint members to the panel that will come up with recommendations by the end of the year. The points of reference with which the panel will work are still, according to McCuaig-Boyd, “being finalized”.
“As one of four million-plus owners of Alberta’s natural resources and bringing my understanding of just how important this industry is to Alberta, I want the best possible system for all of us,” Mowat said.
McCuaig-Boyd and Mowat did not give too much detail on the review, but said that today’s announcement is the “first day of the next steps”.
McCuaig-Boyd did say, however, that the final recommendations from the review will not be binding and will only serve as points of advisory.
Mowat made it clear that under his guidance and leadership, recommendations to “optimize” the royalty structure in Alberta will be his primary goal.
The decision to review royalty rates paid by oil and gas companies was part of the NDP’s election campaign that helped the party win a provincial majority after 44 years of PC rule.
A bit more about Mr. Mowat (As taken from ATB’s website):
“Dave is an Albertan by birth. And, like more and more of us, he’s an Albertan by choice. After getting his education in B.C., he came back home. Over the last 30 years, he has shaped and been shaped by every aspect of the banking world: venture capital markets, credit, retail, corporate, investments, and banking tied to each sector of the Alberta economy.
He has served in three chief executive posts, and used his training and instincts on the boards of prominent Canadian organizations, including Visa Canada. Today, Dave serves on the boards of STARS, Telus Community Foundation, MasterCard Canada, Alberta Blue Cross, and the Citadel Theatre. In 2012, Dave served the United Way of the Alberta Capital Region as its campaign chair.
Visitors to Vancouver will recall seeing VanCity branches tucked into neighbourhoods across that city and can certainly tell you the credit union is known for its assets, profitability and membership. That’s the straightforward legacy of Dave’s term as VanCity CEO. But he’s also known for VanCity’s commitment to corporate social responsibility, a passion he’s brought to ATB.
In June 2007, Dave was hired as President and CEO of ATB Financial, the largest Alberta-based financial institution and a dynamic presence across the province. ATB offers a full range of banking services and is consistently recognized as one of Canada’s top employers.”