Premier’s Advisory Council on Government Assets
Information on the team of business and public policy experts appointed to advise the government on key government assets and government business enterprises.
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Final wine recommendations
In February 2016, the Council delivered its final recommendations for the wine and spirits sectors in Ontario.
The Council’s report describes the balance of changes to increase consumer convenience and choice, and increase opportunities for producers.
Hydro One: Initial Public Offering (IPO)
Following recommendations from the Council in April 2015, the government announced its intention to broaden ownership of Hydro One.
In November, 2015, Hydro One’s initial public offering (IPO) was completed, generating $1.83 billion in gross proceeds that will be dedicated to transit and infrastructure throughout the province while also paying down debt.
Council’s final recommendations on Hydro One and the sale of beer
The Council has presented its final recommendations to government on the sale of beer in Ontario and Hydro One.
The two reports outline significant reforms and changes that will benefit consumers and improve the efficiency of our electricity system.
Read the recommendations for beer sales in Ontario
Read the recommendations for Hydro One
Council’s Initial Report
The Premier’s Advisory Council on Government Assets has released its initial report on key provincial assets, including the LCBO, Hydro One and OPG. This report provides initial recommendations on ways to improve customer service and increase efficiencies at these government business enterprises, in order to maximize their value and generate better returns for the people of Ontario.
In advance of its interim report, the council presented initial recommendations on ways to maximize the value of the LCBO, Hydro One and OPG and generate better returns for the people of Ontario. These initial recommendations were presented through a speech delivered by the Chair of the council, Ed Clark.
The Premier’s Advisory Council on Government Assets examined how to get the most out of key government assets to generate better returns and revenues for Ontarians.
The council recommended ways to maximize the value and performance of Hydro One, OPG and the LCBO to help deliver on the multi-year targets set out in the 2014 Budget.
The council’s work was guided by these principles:
- the public interest remains paramount and protected
- decisions align with maximizing value to Ontarians
- the decision process remains transparent, professional and independently validated
Council members have proven track records in leading transformations and implementing growth strategies, as well as extensive expertise in finance, good governance and public policy.
Ed Clark, Chair
Ed Clark is the former Group President and Chief Executive Officer of TD Bank Group. Before joining TD, he was President and Chief Executive Officer of Canada Trust Financial Services.
Mr. Clark joined TD Bank Group as Chairman and Chief Executive Officer of TD Canada Trust and oversaw the successful integration of the TD and Canada Trust banking operations.
Mr. Clark was the 2010 Cabinet Chair for United Way Toronto, and is currently a member of the Chair’s Advisory Council for Habitat for Humanity Toronto. Mr. Clark is also chair of the Advisory Board for the School of Public Policy and Governance.
Mr. Clark was appointed to the Order of Canada in 2010 for his contributions to Canada’s banking and financial industry, and for his voluntary and philanthropic endeavours. In 2010, he was named Canada’s Outstanding CEO of the Year and was also named Ivey Business Leader of the Year by the Richard Ivey School of Business in 2011.
He also received the 2011 Outstanding Philanthropist award from the GTA Association of Fundraising Professionals. In 2012 and 2013, he was named to Barron’s prestigious annual list of the world’s 30 best CEOs.
David Denison (member through April 14, 2015)
David Denison is a corporate director with extensive experience in the financial services industry and served as President and Chief Executive Officer of the Canada Pension Plan Investment Board from 2005 to 2012.
Prior to that, Mr. Denison was President of Fidelity Investments Canada Limited. He has also held a number of senior positions in the investment banking, asset management and consulting sectors in Canada, the United States and Europe.
Mr. Denison is a director of the Royal Bank of Canada, BCE Inc., and Allison Transmission Inc. He serves as Chair of the Boards of Bentall Kennedy Limited Partnership and Bridgepoint Health.
He is also a member of the Investment Board and International Advisory Committee of the Government of Singapore Investment Corporation, the World Bank Treasury Expert Advisory Committee, and the University of Toronto Investment Advisory Committee.
Mr. Denison resigned from the Council on April 14, 2015, following the completion of the energy sector recommendations.
Janet L. Ecker is President and CEO of the Toronto Financial Services Alliance (TFSA), a growing public-private partnership dedicated to building Toronto as a global financial services centre.
She has also established the Global Risk Institute in Financial Services, as well as the Centre of Excellence in Financial Services Education
Ms. Ecker was a member of the Provincial Parliament and held the positions of Minister of Finance, Minister of Education, Minister of Community and Social Services, Government House Leader, and was chair of the government’s infrastructure investment corporation.
Ms. Ecker is a member of the Ontario Finance Minister’s Economic Advisory Panel.
Ms. Ecker was also recognized in 2010 as one of the "Most Influential People in the World’s Financial Centres" by Financial Centres International and received a "Canada’s Most Powerful Women: Top 100 Award" from the Women’s Executive Network and the Richard Ivey School of Business in 2003. In 2012, she received a Queen Elizabeth II, Diamond Jubilee Medal for public service.
Ellis Jacob is the President and Chief Executive Officer of Cineplex Entertainment. Prior to that, he was President and Chief Executive Officer of Cineplex Galaxy LP, and had co-founded Galaxy Entertainment Inc. having served with the Cineplex Odeon Corporation for over 20 years.
Mr. Jacob is a member of the Board of Directors at Toronto’s Baycrest Centre for Geriatrics. He also opened the Jacob Family Theatre in the Abe Posluns Auditorium.
Mr. Jacob helped construct similar auditoriums at Toronto’s Hospital for Sick Children and Mount Sinai Hospital, where he also serves as a member of the Board of Governors.
Mr. Jacob is a Director of Cineplex Inc., the Motion Picture Theatre Associations of Canada, the Toronto International Film Festival, and the National Association of Theatre Owners.
He was appointed to the Order of Canada in 2010 for his contributions to the entertainment and movie exhibition industry, and for his voluntary and philanthropic endeavours.
He has received multiple awards, including the Ernst & Young Entrepreneur of the Year Award for Ontario in 2005.
Frances Lankin (member through July 4, 2015)
The Honourable Frances Lankin is Chair of the Ontario Press Council and a Board Director with the Ontario Lottery and Gaming Corporation and Chair of its Social Responsibility Committee.
She is former Co-Commissioner for the Ontario Commission for the Review of Social Assistance and former President and CEO of United Way Toronto.
Ms. Lankin was a member of the Provincial Parliament and held the positions of Minister of Government Services, Chair of Management Board, Minister of Health, and Minister of Economic Development and Trade.
In 2009, she was appointed to the Queen’s Privy Council of Canada and a member of the Security Intelligence Review Committee.
Ms. Lankin currently serves on the Board of the Institute of Corporate Directors and has served on multiple Boards, including Metrolinx, the Ontario Hospital Association, the Literary Review of Canada, and Chair of the TELUS Toronto Community Board.
In 2012, she was named a Member of the Order of Canada and a Trudeau Foundation Mentor. Ms. Lankin has received many awards and recognition for her work and service to community, including Honorary Doctorates of Laws from Queens and Ryerson Universities, the Queen Elizabeth Golden and Diamond Jubilee Medals and in 2014 was appointed a Fellow of the Broadbent Institute.
Council members, including the chair, are not paid for their service on the council.
Members are reimbursed for reasonable expenses in line with the Management Board of Cabinet’s Travel, Meal and Hospitality Expenses Directive.