Canada: Corporate Governance
In the face of growing regulation and an increased international focus on governance issues, directors and officers are looking to specialists to advise them on their obligations. The 27 individuals we list here stand out for the calibre of their business advisory practices.
Stikeman Elliott LLP has the largest contingent of experts with five selected for inclusion in this chapter. William Braithwaite is past chairman of the advisory committee of the Ontario Securities Commission (OSC) and “absolutely outstanding” in the eyes of our sources. Marvin Yontef is a senior partner in the corporate group in Toronto and well known for his knowledge relating to strategic and fiduciary issues. Pierre Raymond is chair of the firm and a “big name in Canadian corporate law”, and Benoît Dubord is very well regarded for his securities expertise. John Leopold co-chairs the M&A practice and received recommendations from across Canada and internationally.
David Jackson is former chairman of Blake Cassels & Graydon LLP and leads a quartet of featured experts from the firm in the voting. He “played an integral role” in in the preparation and review of the draft bills leading up to the Ontario Securities Act, and “knows this area inside out”. Brock Gibson QC is current chair of the firm and well known for his corporate and securities expertise. Pamela Hughes is a former director of the capital markets/international markets branch of the OSC and “very learned in this field”. Jeffrey Lloyd is well known for his “invaluable advice” relating to continuous disclosure documents, shareholders meetings and other governance matters.
Fasken Martineau DuMoulin LLP sees three partners selected. Jonathan Levin in Toronto is “one of the best around” and an ad hoc member of the Canadian Bar Association committee advising on the implementation of enhanced corporate governance legislation in Canada. William Orr is “a real specialist in this area”, known for his securities expertise and advice to boards of directors and independent committees of boards. Robert Paré is one of the most highly respected individuals in Montreal.
Osler Hoskin & Harcourt LLP is home to three highly regarded figures. Clay Horner is recognised in Canada and beyond for his corporate expertise, and was lead counsel to the “Wise Persons’ Committee” appointed to recommend the best securities regulatory system for Canada. Brian Levitt is counsel to the firm and current chair of the board of directors of The Toronto-Dominion Bank:in the words of one interviewee, “he is the first person I call”. Jean Fraser is a former chair of the firm and a member of the senior securities advisory group to the chairman of the OSC, as well as a past member of the OSC policy advisory committee.
The number of nominees selected from Torys LLP grows to three in this edition. The “excellent” Peter Jewett chairs the corporate practice and has served on committees investigating securities and corporate law for the OSC and the Canadian Bar Association. Also in Toronto, Richard Balfour is very highly rated for securities regulation, and James Scarlett is a former legal counsel in the corporate finance branch of the OSC as well as acting as assistant to the chairman and the executive director on a range of special projects.
Carol Hansell of Davies Ward Phillips & Vineberg LLP’s Toronto office is “an authority in this area”. As past chair of the corporate governance committee of the American Bar Association, she has advised clients such as Magna International on governance issues. William Ainley has acted for the independent and special committees of a range of public corporations and is famed for his “practical and insightful counsel”.
Two of the most highly regarded figures in this sector hail from Goodmans LLP. Stephen Halperin is co-chair of the corporate securities group and “hugely experienced at boardroom level”. He has held several public company directorships and is currently a director of Cott Corporation. Jonathan Lampe is former general counsel of the OSC, as well as former chair of its securities advisory committee, and “one of the finest corporate lawyers in Canada”.
At Bennett Jones LLP, Alan Bell is a “star” in the eyes of his peers, while Francis Allen is widely recognised as a former general counsel to the OSC, as well as a member of several of its securities and disclosure advisory committees.
Jeff Barnes joined Borden Ladner Gervais LLP in early 2011, bringing with him “an exceptional depth of practice in this area”. He is a current member of the senior legal advisors to the chair of the OSC.
Rene Sorell of McCarthy Tétrault LLP is extremely well known, both for his background as a member of the senior securities law advisory committee to the OSC and his counsel to special committees of public company boards of directors.
Mitchell Gropper QC of Farris Vaughan Wills & Murphy LLP is “absolutely first class”. He has served as a member of the Securities Law Advisory Committee of the British Columbia Securities Commission, and is currently a director of Bennett Environmental having also served as a director of Catalyst Paper, Crew Gold and Concert Properties.