W. Edmund Clark
|William Edmund "Ed" Clark|
October 10, 1947 |
|Other names||Ed Clark|
|Occupation||Former Chief Executive|
|Known for||Group President and Chief Executive Officer of TD Bank Group|
#47 on Harvard Business Review's 100 Best Performing CEOs in the World (2014) Barron's magazine World's 30 Best CEOs (2012 & 2013) Ivey Business Leader of the Year by the Richard Ivey School of Business at the University of Western Ontario (2011) GTA Association of Fundraising Professionals (AFP) "Outstanding Philanthropist" award (2011) Canada's Outstanding CEO of the Year (2010) Order of Canada (2010) Egale’s Leadership Award (2010)Catalyst Canada Honour (2010)
William Edmund "Ed" Clark (born October 10, 1947) is the former president and chief executive officer of TD Bank Group. Clark was appointed to this role on December 20, 2002. Prior to this appointment, he was president and chief operating officer, a role he held since July 2000. On April 3, 2013, Clark announced his intention to retire as president and CEO effective November 1, 2014 at age 67, after 12 years as CEO. After his retirement, Clark worked as an adviser for Ontario Premier Kathleen Wynne and helped engineer the highly controversial partial sale of Hydro One, which began in 2015.
Following TD's acquisition of Canada Trust Financial Services in February 2000, Clark joined TD Bank Group as chairman and chief executive officer of TD Canada Trust. In this role he oversaw the successful integration of the TD and Canada Trust banking operations. Before joining TD, Clark was president and chief executive officer of Canada Trust Financial Services.
In 1985, he joined Merrill Lynch, and three years later was appointed chairman and chief executive officer of Morgan Financial Corporation, a position he held until he joined Canada Trust Financial Services Inc. in 1991.
From 1974 to 1984, Clark held a number of senior positions in the federal government. This included helping to develop the contentious National Energy Program, which has been cited as creating significantly negative impacts to both the national deficit and the Western Canadian economy.
Ed graduated from the University of Toronto in 1969 with a Bachelor of Arts degree. He earned his master's degree and doctorate in economics from Harvard University in 1971 and 1974 respectively. Clark has also received honorary degrees from Mount Allison University, Queen's University, the University of Western Ontario, University of Toronto, York University, and Ryerson University.
Appointments and community involvement
Clark was the 2010 Cabinet Chair for United Way Toronto. Currently, Clark is a member of the Chair’s Advisory Council for Habitat for Humanity Toronto, and provides support to WoodGreen Community Services, an organization that delivers programs to build sustainable communities in the Toronto area. He has been chair of the advisory board for the School of Public Policy and Governance at the University of Toronto since 2011.
In 2014, Clark was elected to the board of trustees of US public policy organization, the Brookings Institution. In addition, he was also appointed chair of the Premier's Advisory Council on Government Assets by Premier Kathleen Wynne. Clark is leading a group of five senior executives in examining how to get the most out of key government assets to generate better returns and revenues for Ontarians.
Under the Wynne government, in 2015, he engineered the partial sale of Hydro One, as well as reforming the Alcohol and Gaming Commission of Ontario's Liquor Licence Act to allow six-packs of beer to be sold in Ontario grocery stores, the latter of which was the result of a Toronto Star exclusive on the Beer Store's anti-competitive practices. Prior to the sale of Hydro one, Clark confidently insisted that the plan would mean "good things for Ontario Hydro bills." But following the sell-off, Ontario Hydro rates continued to climb at an alarming rate, prompting Ontario Premier Kathleen Wynne to issue an apology to families "who have had to choose between paying the electricity bill and buying food"
In 2010 Clark was appointed to the Order of Canada for his "contributions to Canada’s banking and financial industry, and for his voluntary and philanthropic endeavours". Ed also received Egale's Leadership Award in honour of his leadership in supporting LGBT communities, and the inaugural Catalyst Canada Honour, awarded to individuals who have made a critical and visible difference to women's advancement. Clark was also named Canada's Outstanding CEO of the Year in 2010.
In 2011, Clark was named Ivey Business Leader of the Year by the Richard Ivey School of Business at the University of Western Ontario. That same year he was also acknowledged by GTA Association of Fundraising Professionals (AFP) with the "2011 Outstanding Philanthropist" award. In 2012 and 2013, Clark was selected by Barron’s magazine as one of the world's 30 best CEOs. Then in October 2014, the Harvard Business Review named Clark on its list of the 100 Top Performing CEOs in the World, ranking him #47.
Clark and his wife Fran live in Toronto; they have four grown children and ten grandchildren.
Clark has been asked to speak at a number of prominent international events on a wide range of topics, including the Canadian economy, the banking industry, leadership values, and the importance of creating a diverse and inclusive culture in the workplace. The following is a selection of his remarks:
"Final Major Address as TD's CEO" Remarks delivered at the Empire Club of Canada, Toronto, September 16, 2014
"Somewhere over the rainbow: a CEO's perspective on building an inclusive company" Remarks delivered at the Economic Club of Canada coinciding with the WorldPride Human Rights Conference, Toronto, ON. June 25, 2014.
"Building a Better Banking System for America" Remarks delivered at the Chief Executives' Club of Boston, Boston College, Boston. April 26, 2012
"Preserving The Things That Matter In A World Of Constrained Resources" Remarks at the Ivey Business Leader Award Dinner, Toronto, ON. October 19, 2011
"The Shift in Leadership" Remarks at Canada's Outstanding CEO Award Dinner, Toronto, ON. February 17, 2011
- "Executive Profile-W. Edmund Clark". Businessweek. Retrieved 8 February 2013.
- "TD Bank Group President and CEO Ed Clark to Retire". TD Bank Group. Retrieved 30 September 2014.
- "W. Edmund Clark Distinguished Lecture Series on Public Policy". Queen's University. Retrieved 18 March 2013.
- "Brookings Announces New Trustees". the Brookings Institution. Retrieved 5 June 2014.
- "Premier's Advisory Council on Government Assets". the Government of Ontario. Retrieved 15 October 2014.
- "Governor General announces 74 new appointments to the Order of Canada". The Governor General of Canada. Retrieved 17 June 2013.
- "The Best-Performing CEOs in the World". The Harvard Business Review. Retrieved 15 October 2014.
- "Final Major Address as TD's CEO". td.com. TD Bank Group. Retrieved 2014-10-15.
- "Somewhere over the rainbow: a CEO's perspective on building an inclusive company". td.com. TD Bank Group. Retrieved 2014-10-15.
- "Building a Better Banking System for America". td.com. TD Bank Group. Retrieved 2014-10-15.
- "Preserving The Things That Matter In A World Of Constrained Resources". td.com. TD Bank Group. Retrieved 2014-10-15.
- "The Shift in Leadership". td.com. TD Bank Group. Retrieved 2014-10-15.
- TD Financial Group's official website
- Forbes Profile on Ed Clark
- Habitat for Humanity Toronto's Chair's Advisory Council
A. Charles Baillie
|Toronto-Dominion Bank CEO
Compensation for 2009: $15,188,391