Board of directors

Mr. Smith, one of Canada’s leading financial services entrepreneurs, is the Executive Chairman and Co-founder of First National Financial Corporation. He has been an innovator in the development and utilization of various securitization techniques to finance mortgage assets, as well as a leader in the development and application of information technology in the mortgage industry.

From 2006 to January 12, 2022, Mr. Smith was Chief Executive Officer of First National Financial Corporation.

Mr. Smith is Chairman of Canada Guaranty Mortgage Insurance Company, which he owns in partnership with Ontario Teachers’ Pension Plan. He is Chairman and co-owner of Duo Bank of Canada, formerly Walmart Canada Bank, whose subsidiary Fairstone Financial Inc., is Canada’s largest non-bank consumer finance lender. Mr. Smith is the largest shareholder in Equitable Bank, Canada’s Challenger Bank™. He is also Chairman of Peloton Capital Management, a North American focused private equity firm. Mr. Smith is a member of the board of directors of the C.D. Howe Institute, E-L Financial Corporation Limited and the Canada Infrastructure Bank. He is also Chairman of Historica Canada, which produces the Heritage Minutes and publishes The Canadian Encyclopedia. In 2019, Mr. Smith was inducted into the Canadian Business Hall of Fame.

In 2015, Queen’s University announced the naming of the Stephen J.R. Smith School of Business at Queen’s University, in honour of Mr. Smith and his historic $50 million donation to the school.

Mr. Smith holds a Bachelor of Science (Honours) in Electrical Engineering from Queen’s University and an M.Sc. in Economics from the London School of Economics.

Mr. Ellis is the President and Chief Executive Officer of the Corporation and is responsible for the design and maintenance of strategy and operational excellence across the organization. Mr. Ellis joined First National in 2004 as Director, Capital Markets responsible for leading First National’s capital markets’ activities including interest rate risk management, funding, and securitization for all commercial and residential mortgage origination. Mr. Ellis was appointed Chief Operating Officer in 2018 and President in 2019. On January 12, 2022, Mr. Ellis was appointed Chief Executive Officer. Prior to joining First National in 2004, Mr. Ellis was with the Asset/Liability Management group at Manulife Financial and with RBC Dominion Securities in Toronto and New York where he traded fixed income and interest rate derivatives. Mr. Ellis holds a BA degree from the University of Western Ontario, an MBA degree from McMaster University and is a CFA charterholder.

Ms. Irman joined First National’s Board after a 30+ year career in financial services. She previously served as Vice Chair of TD Securities, responsible for ensuring senior client relationship management across equity, interest rate and currency products. She also led the team responsible for Global Transaction Services and Global Lending Relationship Management and co-chaired TD Securities’ Diversity and Inclusion Committee for 15 years. Ms. Irman achieved her ICD.D designation from the Institute of Corporate Directors and graduated from the Advanced Management Program at The Wharton School of the University of Pennsylvania. She is currently a Director of TMX Group, St. Michael’s Hospital Foundation and Chair of the Board of Export Development Canada.

Mr. Jackman has been Chairman, President and Chief Executive Officer of E-L Financial Corporation, an investment and insurance holding company, since 2003. In 2003, he was also elected Chairman of the board of directors of The Empire Life Insurance Company. Mr. Jackman is also Chairman of Algoma Central Corporation, the largest Great Lakes bulk shipper, as well as Chairman and President of Economic Investment Trust Limited and United Corporations Limited, two Canadian listed closed-end funds. He also serves as a member of the board of directors of several other public and private companies. Mr. Jackman is a member of the Business Council of Canada and formerly served on the Economic Advisory Council to the Minister of Finance, Government of Canada. He is also Chair of the Patron’s Council for Community Living Toronto, which provides support to thousands of individuals with an intellectual disability. Mr. Jackman graduated from McGill University in Montreal.

Mr. Mitchell was appointed Executive Chair and Chair of the Investment Committee of Dixon Mitchell Investment Canada Inc., a Vancouver-based investment management company, on January 1, 2021. From 2000 to 2020, he was President of Dixon Mitchell Investment Counsel Inc. Prior to that, he was Vice President, Investments at Seaboard Life Insurance Company. Mr. Mitchell has an MBA from the University of Western Ontario and a Bachelor of Commerce (Finance) from the University of Calgary, and is a CFA charterholder. Mr. Mitchell sits on the board of Equestrian Canada.

Ms. Palk retired as President of TD Asset Management Inc. in 2010, following a 30-year career in institutional investment and investment management. She currently serves on the board of directors of Crombie Real Estate Investment Trust, where she chairs the Human Resources Committee. Her experience on boards of directors include the Ontario Teachers’ Pension Plan, where she chaired the Investment Committee; TD Asset Management USA Funds Inc.; Canadian Coalition for Good Governance, where she chaired the Governance Committee; Greenwood College School; the Investment Counselling Association of Canada; the Perimeter Institute; the Shaw Festival; UNICEF Canada; and Queen’s University, where she was the Chair of the Board of Trustees. Ms. Palk is a member of the Institute of Corporate Directors, a Fellow of the Canadian Securities Institute and a CFA charterholder. She holds a Bachelor of Arts (Honours) in Economics from Queen’s University, and has been named one of Canada’s Top 100 Most Powerful Women (2004).

Ms. Sinhuber brings 35+ years of leadership experience to First National, primarily in the financial services industry. Until her retirement in 2022, she served as Senior Vice President, Internal Audit, Transformation at TD Bank. Prior to that she held the title SVP, Deputy Chief Auditor at the bank. Earlier in her career, she was a Partner at Ernst & Young LLP where she led the firm’s Financial Services Organization in Canada. She is a Fellow Chartered Professional Accountant (FCPA) and achieved her ICD.D designation from the Institute of Corporate Directors. She is currently a Director of the Scarborough Health Network and past Chair of the Board of the YMCA of Greater Toronto.