Board of Directors

The 2016-2017 Slate of Directors for The Canadian Institute of Chartered Business Valuators are:

Chair: Richard Ginsberg

Richard Ginsberg, CPA, CA, CBV

Richard is a Partner in the Valuation Services group of Deloitte’s Financial Advisory practice.  Richard specializes in preparing valuation and expert reports for the purposes of financial reporting, income tax, mergers and acquisitions, related party transactions, corporate restructurings, and litigation support, including the provision of fairness opinions, strategic advisory, and board advisory services.

Richard presently serves as a director on the Board of the Canadian Institute of Chartered Business Valuators (“CICBV”), and continues to be associated with various on-going initiatives/activities on behalf of the Institute, including Board representation for the CICBV on the co-owners board of directors for the International Institute of Business Valuers.

As part of the International Accounting Standard Board’s Education Initiative, Richard has been named to the ‘Valuation Expert Group’.  Richard has delivered presentations to various constituent groups on the topics of business and intellectual property valuation, IFRS, accounting, and board advisory, and continues to be a special presenter to the Organization for Economic Cooperation & Development representing Canada on the topic of intangible asset valuation.

Vice-Chair: Suzanne Loomer

Suzanne Loomer, MAcc, CPA, CA, CBV

Suzanne is a partner with KPMG LLP. Suzanne provides assistance to clients and the courts with respect to the valuation of businesses, intellectual property and other intangible assets.  She has prepared valuations and expert reports for various purposes, including: succession planning, patent and trademark infringement, competition law matters, breach of contract, shareholder disputes, family law, securities law, corporate reorganizations, financial reporting, income tax and M&A. Suzanne has qualified as an expert in the Ontario Superior Court, Federal Court of Canada and in mediations and arbitrations. Suzanne holds a Master of Accounting degree from the University of Waterloo.  She is a member of the Institute of Chartered Accountants of Ontario and the Canadian Institute of Chartered Business Valuators.   She received her Chartered Accountant designation in 1993 and her Chartered Business Valuator designation in 1998. She has written articles and lectured at various conferences and professional development sessions on topics related to valuations, litigation support and corporate finance.  She is the author of Managing Intellectual Property Value (2015) and co-author of Financial Principles of Family Law published by Carswell (2001).

Secretary/Treasurer: Paul Gill

Paul Gill, CPA, CA, CBV, ASA

In his role as Vice President, Finance & Valuations at OMERS Private Markets (OPM), Paul is responsible for the valuation of ~$25 billion of equity investments of the Infrastructure (Borealis Infrastructure) and Private Equity (OMERS Private Equity) asset classes of the OMERS pension plan.  OPM has offices in Toronto, New York, London and Sydney.  OMERS is one of Canada’s largest pension funds with net assets of more than $77 billion and an AAA credit rating.

Prior to joining OMERS, Paul spent over nine years in the valuation services practice of KPMG in both Canada (Toronto) and the United States (Silicon Valley) where he mainly focused on performing valuations for M&A, tax, and financial reporting.  Paul also spent more than two years in public accounting providing assurance, tax and advisory services to private and public enterprises.

Past Chair: Pierre Maillé - ex-officio



Pierre Maillé, CBV

Pierre is the Senior Vice-president and Partner responsible for the Dispute Analysis and Valuations group at PricewaterhouseCoopers LLP in Montréal. Since joining the firm in 1981, Pierre has performed and supervised numerous business valuation and financial advisory assignments in several industries. Pierre has been involved in engagements consisting mainly of valuations, investment analyses and financing strategies for start-up companies, reorganizations, mergers and acquisitions, or other investment projects. He has also led several financial expertise and damage quantification engagements for litigation support. Furthermore, he has served as an expert witness in testifying before the Superior Court of Québec or arbitration tribunals on more than fifteen occasions. Pierre has extensive experience in valuing intangible assets, in particular technology, patents, trademarks and intellectual property. This experience was gained in the context of fairness opinions, value allocation or purchase price allocation for tax or accounting purposes, as well as during business acquisition transactions. Pierre graduated from McGill University, Montréal, in 1978 with a BCom (Management Information Systems and Finance). He obtained a MSc (Finance) from École des Hautes Études Commerciales de Montréal in 1986. Pierre is a Member of the Canadian Institute of Chartered Business Valuators (CBV). Pierre’s services to associations include: He has given lectures in the valuation field at a symposium on mergers and acquisitions, at the Intellectual Property Symposium in Montréal and in Québec City, at a conference on investment capital and at an advanced conference at The Canadian Institute. He was a lecturer on the topic of family-owned companies (performances and perspectives) at a new governance of businesses seminar and has published an article on discounted cash flows in the Journal of Business Valuation.

See a list of Past Chairs.

CEO: Mary Jane Andrews - ex-officio

Mary Jane web

Mary Jane Andrews, FCPA, FCA, FCBV, CFF

Mary Jane Andrews is the President & CEO of The Canadian Institute of Chartered Business Valuators (“CICBV”). She is responsible for the conduct of the affairs of CICBV in accordance with the Institute’s By-laws, policies and procedures, working with the Board of Directors and volunteers in various committees. She is responsible for the administration,  strategic plan, and overseeing the delivery of various programs and services offered by CICBV. Included in her duties is the responsibility of communications with Members and the external stakeholders, media, accounting  ,legal and investment firms ,  as well as other organizations in the valuation profession in Canada, the United States and worldwide.

Bill Armitage

Bill Armitage, CA, CBV

Bill is a Partner in the Toronto Valuation Services Group within Ernst & Young LLP and has more than twenty two years of professional experience.  Bill provides valuations and dispute resolution services for private and public companies for financial reporting, acquisitions, divestitures, fairness opinions, financings, reorganizations, dispute resolution, and option arrangements.  Bill has provided expert reports for courts, arbitration and mediation on a variety of matters.  During his career Bill has practice in Canada, in the United States and in Sweden within industry, boutique firm and international accounting firms.

Bill presently serves as a director on the Board of the Canadian Institute of Chartered Business Valuators (“CICBV”).  Bill has previously been involved in a number of CICBV initiatives and continues to be on various on-going initiatives on behalf of the Institute.

Bill is a graduate of Laurentian University, a Chartered Business Valuator and a Chartered Accountant / Chartered Professional Accountant.

Paula Frederick

Paula Frederick, CA, CBV

Paula Frederick is a Principal of Cohen Hamilton Steger & Co. Inc. where she specializes in business valuations and quantification of damages.  Prior to joining Cohen Hamilton Steger, she was a Director in the Toronto office of Navigant Consulting’s Disputes & Investigations practice.  She obtained her CA designation in 1992, receiving the Ontario silver medal and placing 4th in Canada, and obtained her CBV designation in 1997, receiving the Canadian silver medal. Paula has practiced exclusively in the areas of business valuation and damages quantification since 1994. Paula’s past assignments have involved the quantification of damages resulting from breach of contract, breach of fiduciary duties, oppression, expropriation, wrongful termination, and other financial disputes.   Her past assignments have also involved business valuations related to shareholder disputes, going-private transactions and other related party transactions, oppression, expropriation, mergers and acquisitions, tax, and matrimonial matters. Paula has prepared numerous expert and valuation reports and she has been qualified many times as an expert witness by the Ontario Superior Court of Justice and in arbitrations. Paula has particular experience in the determination of disturbance damages and business valuations related to the field of expropriation.  She is active in the Ontario Expropriation Association (OEA) serving as a Director and Past President of the OEA. Paula has authored several articles and given presentations on valuation and expropriation issues.  Paula has been involved in the Advocates’ Society Civil Litigation Skills Certificate Programs acting as an expert witness for both the panel and workshop portions of the programs.

Karim Jamal

Karim JamalKarim Jamal, Ph.D, FCPA FCA

Dr. Jamal is a CA Distinguished Professor and Department Chair of Accounting, Operations and Information Systems (AOIS), at the University of Alberta.

Dr. Jamal is the past Chair of the American Accounting Association’s Financial Accounting Standards Committee (FASC) which provides scholarly opinion and discussion to the Financial Accounting Standards Board (FASB) in the U.S., The International Accounting Standards Board (IASB) and The Securities and Exchange Commission (SEC).   Dr Jamal’s primary research focus is on : (1) Auditor balancing of fraud versus client satisfaction, (2) Disclosure and its effect on conflict of interest, compensation and discussions with the audit committee, (3) Private markets for accounting and auditing, (4) Regulatory failure in auditing and (5) Persuasion, justification and interpersonal perception in auditing.  Dr Jamal has numerous publications in research and professional journals in accounting, economics and psychology, published in Canada, the US, the UK, Japan and Taiwan. In 2009, the Alberta Institute of Chartered Accountants (ICAA) made Dr Jamal a Fellow of Chartered Accountants (FCA). In 2010, Dr Jamal received the Haim Falk Award for Distinguished Contribution to Accounting Thought from the Canadian Academic Accounting Association (CAAA) and was appointed as Centennial Ambassador for the Institute of Chartered Accountants of Alberta (ICAA).

Scott Lawritsen

Scott Lawritsen, CFA, CBV

Scott is a Principal with Clark Valuation Services in Calgary.  Scott has more than twenty years’ experience in business valuation, litigation support and corporate finance where he has been an adviser to individuals, management and the Board of Directors for small and large corporations, shareholders and lawyers.  His projects have included business valuations, damage quantification, loss of income analysis, fairness opinions, litigation support services, expropriation analysis, matrimonial valuations, insurance loss, purchase price allocation analysis and corporate finance advisory.

Scott has completed numerous litigation engagements and has been qualified to testify before the Court of Queen’s Bench for Alberta, the Land Compensation Board and the Tax Court of Canada. He has also provided fairness opinions, assisted companies in their fair value measurement and goodwill impairment analysis, and is regularly involved in an advisory capacity on mergers, acquisitions and divestitures.  Scott has presented courses on corporate finance and damage quantification for the Institute of Chartered Accountants of Alberta and British Columbia and at Federated Press Conferences. Scott previously served on the Board of Directors of the Calgary CFA Society and has published several articles on business valuation and finance and was a contributing editor to the Canada Valuation Service.

Alexander Lourie


AlexAlexander Lourie, CA, CBV

Alex is a Senior Manager in Deloitte’s Financial Advisory practice, specializing in valuations. Alex has been involved in several large-scale and complex valuation projects, including valuations of intangible assets, fairness opinions, valuations for tax purposes and litigation support.  Alex has worked with multinational corporations as well as small private companies involved in the gaming, real estate, healthcare, manufacturing, mining, retail, technology, new media and various other industries.  Alex started his career by providing attest services to companies involved in property ownership, management and development.

Over the past several years Alex has facilitated a number of in-house and external learning sessions around technical valuation and financial analsyis matters. Alex is a Chartered Business Valuator, a Chartered Accountant and is currently a member of the Board of Directors of the Canadian Institute of Chartered Business Valuators.

Prior to obtaining these two designations, Alex received his Bachelor of Business Administration from the Schulich School of Business at York University and has also studies abroad at the Copenhagen Business School.

Julie Martel

Julie MartelJulie Martel, MSc., CFA, CBV

Julie has recently joined Industrial Alliance Insurance and Financial Services as a Director in the Acquisitions and Corporate Development department in Quebec City. She cumulates almost 18 years of experience in corporate finance within various major Quebec based companies as well as 2 years as a consultant in the Transaction Advisory Services at Ernst &  Young. 

Specialized in mergers and acquisitions and business valuation, she successfully completed numerous transactions in Canada and abroad in various industries such as banking and financial services, telecommunications, retail and chemicals. Her expertise includes business valuation, due diligence, contract negotiation, purchase price allocation and integration planning.

She holds a Master degree in finance from Laval University and is a member of the Chartered Financial Analyst Institute (“CFA Institute”) since 2000 and of the Canadian Institute of Chartered Business Valuators (“CICBV”) since 2012.

Dwayne N. Pyper

Dwayne N. Pyper, CPA, CBV

Dwayne has over 30 years experience in public accounting working with owner-managed businesses.  Now working primarily with the firm’s Financial Services Advisory Team (FSAT), he has specialized in the areas of business valuations and regularly provides services in areas of business acquisitions and divestitures, forensic accounting and calculation of income for support purposes.  He obtained his CA in 1982 and his CBV in 1999.

Dwayne’s past service includes being involved in various capacities for the Grimsby Chamber of Commerce, Grimsby Curling Club, Advisory Committee of Niagara’s Community Investment Plan, Lincoln Rotary Club and the Canadian Greenhouse Conference.  Dwayne was also the Chair of the Host Committee for the 2007 Canadian Men’s Curling Championships (Brier) held in Hamilton and Chair of the 2011 Ontario Men’s Curling Championships held in Grimsby.

Being an avid golfer and curler for over 40 years has provided Dwayne with many highlights including three provincial men’s curling championships, the last of which fulfilled a lifelong goal as lead for the team representing Ontario at the 2000 Brier.

Charlene Rodenhiser

Charlene RodenhiserCharlene Rodenhiser, CA,  CBV

Charlene Rodenhiser is a vice president in the Deals practice of PwC. She is part of the Valuations, Modelling & Disputes Group, serving Atlantic Canada.

Charlene specializes in business valuations of tangible and intangible assets as well as quantification of losses in litigation matters, including breach of contract, loss of earnings, business interruption, family law and personal injury. Charlene supports clients requiring expertise in valuations for financial reporting purposes, including purchase price allocation
and goodwill impairment under applicable accounting standards.

Charlene graduated with a Bachelor of Commerce from Saint Mary’s University in Halifax in 1996. She obtained her CA designation in 1999 and her CBV designation in 2003. She is a member of the Institute of Chartered Accountants of Nova Scotia and the Canadian Institute of Business Valuators.

Charlene is the Past Treasurer for the Hammonds Plains Consolidated Parent & Teacher Association, committee member for ICANS Professional Development, member of PwC’s Diversity & Inclusion Council and course leader for the CICBV (Introduction to Business Valuations).

Derek Sanders

Derek SandersDerek Sanders, CPA, CA, CBV, CFA 

Derek is based in Kelowna and is a partner with Spence Valuation Group and SVG Capital Group, having joined the firms in 2011. Derek is a Chartered Accountant, Chartered Business Valuator and a Chartered Financial Analyst charterholder. He obtained his CA designation in 2003, placing 4th in British Columbia, became a CFA charterholder in 2006 and obtained his CBV designation in 2008, receiving the Canadian silver medal. 

Derek has been working in the area of business valuations, mergers and acquisitions and litigation support services since 2004. Prior to joining Spence Valuation Group and SVG Capital Group, Derek worked for national firms in valuations, transaction advisory and audit roles in Kelowna, London and Vancouver.
Derek has extensive experience in the valuation of privately-held companies in support of purchase and sales transactions, shareholder disputes, corporate reorganizations and estate freezes. Derek has also prepared business valuations and guideline income calculations for family law purposes, loss quantification analyses and limited critique reports for litigation purposes and through SVG Capital Group has advised numerous business owners through the marketing and sale of their businesses.

Derek currently acts as the Treasurer of the Kelowna Art Gallery, was a member of the organizing committee for the 2013 CICBV Western Regional Conference and is also an active member of the Okanagan CFA Society. In addition, he has lectured and presented on numerous topics related to business valuations, litigation support and mergers and acquisitions including the 2014 Mini MBA for Lawyers in Vancouver and was a past contributor to the Law Society of BC in the development of its financial curriculum for the Professional Legal Training Course. In his spare time, Derek enjoys skiing, curling and is an avid golfer.

The Honourable Judith A Snider

Judith Snider photoThe Honourable Judith A Snider

The Honourable Judith Snider is a retired judge of the Federal Court with 35 years of legal experience, 17 years of which involved decision making in highly technical and scientific areas of law.

From 1983 to 1992, Ms. Snider practised law in a Calgary law firm, with the practice specialty of administrative law in the oil and gas sector. In 1992, she joined the National Energy Board as General Counsel. In 1995, Ms. Snider was appointed as a Member and, in 1999, as Vice Chairman of the National Energy Board. As a Member of the Board, she participated in the regulation of international and interprovincial aspects of the oil, gas and electric utility industries. From 2002 to 2013, Ms. Snider served as a judge of the Federal Court, Canada’s national court, where she presided over complex trials and judicial reviews of decisions of federal boards, agencies and tribunals, with particular focus on intellectual property and immigration matters. Ms. Snider also served as a judge of the Court Martial Appeal Court of Canada from 2003 to 2013.

Currently, Ms. Snider is a neutral panellist with JAMS ADR Services, the largest private ADR provider in the world. She is an active member of the Law Society of Alberta.

Ms Snider holds a BSc, with a major in mathematics, from Carleton University (1973) and an LLB from the University of Calgary (1981).

Catherine Tremblay

Catherine Tremblay, B.Com., DPA, CPA, CA, CBV, ASA

Catherine Tremblay is a partner at MNP LLP and is the National Leader of Valuations. She provides business valuation and litigation support services to public and private companies operating in various industries, as well as to governmental authorities.

Catherine has performed numerous business valuations in the context of mergers and acquisitions, litigation support and corporate reorganizations and has extensive experience in fair value measurement for financial reporting purposes.

Prior to joining Wise, Blackman LLP which merged into MNP LLP in 2011, she worked at a major accounting firm for ten years, during which time she was seconded to London, England, for three years to further develop her expertise in financial statement assurance, due diligence and transaction support.

She has acted for the Quebec Financial Markets Authority with respect to purchase price allocation and financial reporting matters. Catherine has also been recognized by the courts as an expert in business valuation.

Catherine has authored several articles and given presentations at various conferences, on business valuation and financial topics.

Catherine obtained her CPA, CA Chartered Professional Accountant designation in 1996, having obtained a Bachelor of Commerce degree and a Graduate Diploma in Public Accountancy from McGill University, graduating with Great Distinction and on the Dean’s Honour List. Catherine became a Chartered Business Valuator (CBV) in 2002 and an Accredited Senior Appraiser (ASA) in 2006.