First Nations Bank of Canada Announces New Governance Roles
Press Releases
SASKATOON, SK – First Nations Bank of Canada (FNBC) today announced improvements to its governance model that will create distinct roles for the Chair of the Board and Chief Executive Officer. To date, the roles have been combined with Keith Martell serving in both capacities. The Board of Directors has elected Bill Namagoose to the position of non-executive Chair of the Board. Bill is currently a director on the Board and remains the full-time Executive Director for the Grand Council of the Crees (Eeyou Istchee). Keith Martell will retain the role of Chief Executive Officer.
“For some time, our Board and management have been discussing making this change to enhance the independence of the Board and provide executive management with the time and focus it needs to drive our continued growth and expansion,” said Namagoose. “As CEO, Keith Martell will continue to lead our Bank with the full confidence of the board, working with our shareholders and our employees to help FNBC reach its full potential.”
Martell welcomes the change which he says aligns with corporate governance best practices and will strengthen the relationship between Board and executive management.”I welcome this change as it will enhance the Board’s independence and formalize communications between the Board, myself and the rest of our senior executive team,” said Martell. “Separating the positions of Chair of the Board and CEO will allow me to focus on executing FNBC’s strategic plan and managing our operations and performance.”
Mr. Martell began as non-executive Chair when the Bank was created in 1996. He has also served as the Executive Chair of the Board and for the last seven years as the Chair of the Board of Directors and CEO. To date, Mr. Martell has been the first and only Chair of the Board of the Bank.
About Bill Namagoose
Bill Namagoose has been a member of First Nations Bank’s Board of Directors since February 2002 and has served as Lead Director for the Board since 2007. Mr. Namagoose remains the Executive Director of the Grand Council of the Crees (Eeyou Istchee). He is Chair of the Management Committee of the Grand Council of the Cree and Cree Nation Government. He is a Director of the Cree Nation Government Board of Compensation, the Chief Executive Officer of the Cree Limited Partnership, a member of the Cree Limited Partnership Investment Committee and
Chairman of the Cree/Naskapi Pension Plan. Mr. Namagoose is also a Trustee on the Cree Nation Trust which manages the funds from the New Relationship Agreement with the Government of Canada. He is from the Waskaganish First Nation where he previously served as Chief and Director of Operations.
About Keith Martell
Keith Martell has been a member of First Nations Bank’s Board of Directors since November 1996, serving as non-executive or Executive Chair of the Board until today. He has been the Chief Executive Officer of the Bank since 2007. He was with the Chartered Accounting firm KPMG for 10 years. From 1995 to 2000, he served the Federation of Saskatchewan Indian Nation as the Executive Director of Finance and Fiscal Relations. He is a Chartered Professional Accountant (CPA, CA) and a Certified Aboriginal Financial Manager (CAFM). He is also a Director of Potash Corporation of Saskatchewan Inc. and River Cree Enterprises Ltd. He is a Trustee of the Primrose Lake Settlement Trust. He is originally from the Waterhen Lake First Nation in northwest Saskatchewan
About First Nations Bank of Canada
First Nations Bank of Canada was founded in 1996 and is a Canadian chartered bank offering Aboriginal and non-Aboriginal people, corporations and governments a full-range of personal and business banking services, including loans, mortgages, investments (registered and non-registered), transaction accounts and cash management. The Bank’s Aboriginal shareholders include groups from Nunavut, Northwest Territories, Yukon, Alberta, Saskatchewan, Manitoba and Quebec, who together own over 80% of the Bank. The Aboriginal shareholders are progressive, like-minded organizations, culturally and linguistically diverse and are all respected leaders in their regional economies. With the support of its Aboriginal shareholders, the Bank has achieved consistent growth and profitability. Bank services are available through a network of eight full service branches, five community banking centres and electronic banking channels. The Bank is a member of the Canada Deposit Insurance Corporation, the Canadian Payments Association and is an approved lender with Canada Mortgage and Housing Corporation and the First Nation Market Housing Fund.
Contact
First Nations Bank of Canada
Keith Martell, Chief Executive Officer
Phone: (306) 955-6734
Email: keith.martell@fnbc.ca
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