Indo-Canadian Businessman Appointed on Board of Canada’s Central Bank

Businessman Peter Dhillon was appointed by the Canadian government to serve on the board of directors of the Bank of Canada, making him the first Indo-Canadian to work in the central financial institution.

“Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subsection 9(1) of the Bank of Canada Act, approves the appointment by the Minister of Finance of Peter Dhillon, O.B.C., of Vancouver, British Columbia, to be a director of the Board of Directors of the Bank of Canada, to hold office during good behavior for a term ending on November 29, 2019,” the Privy Council Office said, announcing his appointment.

Dhillon, 52, joins other Canadian business leaders on the Board whose responsibilities include providing general oversight of management and administration of the bank. The Board is chaired by the Governor of Bank of Canada who sets the direction for banking industry in the country.

Dhillon serves as the CEO of the Richberry Group of Companies, an agribusiness enterprise that operates in British Columbia and Quebec.

He is currently the Chairman of the Board of Directors of Ocean Spray Cranberries Ltd. The Richberry Group of Companies was founded by Dhillon’s parents. In 1978, Dhillon’s parents were in a partnership with a cranberry farm and by 1985, they decided to go on their own, starting with a small operation. Now, the company consists of several cranberry operations.

Dhillon is also known for his philanthropy efforts, which span a variety of fields, including health care, child humanitarian support, education and sport. At the University of British Columbia, his alma mater where got his Bachelor of Arts degree, he established the Rashpal Dhillon Pulmonary Fibrosis Research Endowment and the Rashpal Dhillon Track & Field Centre in his father’s memory, who died of pulmonary illness. He was honored with the Order of British Columbia in recognition of his achievements and services.