Evan Siddall, head of Canada Mortgage and Housing Corp., has long been outspoken about what he calls “the glorification of home ownership” and the “overpromotion” of buying property. “Public servants often worry too much about the negative perception of what they would say,” Siddall says. I am both thrilled and honoured to continue working with CMHC’s dedicated and talented staff across the country as we strive to make a difference in the lives of Canadians. St. Joseph Communications uses cookies for personalization, to customize its online advertisements, and for other purposes.

Siddall is a former chair of the Board of Governors of the University of Guelph, and the Counsel of Chairs of Ontario Universities. Atif Mian, an economics professor at Princeton, and Amir Sufi, a professor of finance at the University of Chicago, conclude that economic disasters are “almost always” preceded by a large increase in household debt. Siddall, 51, spent his first three months at CMHC doing little but observing and asking questions. He constantly shares credit, saying, for example, that the thing he dislikes about the Harvard study is that it is too much about him. The technology was a mess too, so Siddall hired a veteran of Ottawa’s tech scene as chief information officer, outsourced routine tech chores and shifted CMHC to the cloud. That CMHC no longer exists. (Incidentally, Siddall has some experience with that sort of thing. And in fact, Siddall’s efforts are now taught at Harvard Business School. A favourite is This Is Water, an essay about self-centredness by David Foster Wallace, which begins with an allegory: “There are these two young fish swimming along and they happen to meet an older fish swimming the other way, who nods at them and says, ‘Morning, boys. He struggles with the answer. Evan has 8 jobs listed on their profile. In a span of a couple of years, he and his lieutenants fired more than 200 people, reassigned 500, hired 435 and added several hundred more through temporary contracts.

Siddall is unbridled. Siddall mentions another book, The Black Swan, by Nassim Nicholas Taleb. In a speech in Vancouver last fall, he called out politicians who favoured taxing international buyers as a way to deflate the city’s bubble. Evan Siddall, the chief executive officer of Canada Mortgage and Housing Corp., likes to give books to people he is getting to know. Evan worked at some of the world’s largest investment banking firms in Canada and the United States before joining the Bank. Evan Siddall (born 1965) is the current President & Chief Executive Officer of the Canada Mortgage and Housing Corporation. But the biggest change might be the new attitude at the top. We would like to show you a description here but the site won’t allow us. From the outside, those interested in policy and governance can be forgiven if it all seems too good to be true. He has two adult children named Zack and Zoë[7]. ", https://www.linkedin.com/in/evan-siddall-b98a7416/, Request Evan or another CMHC representative as a speaker at your event: speakers@cmhc.ca. “I worry about our responsibility for that. Another favourite book of Siddall’s is House of Debt, a highly regarded study of the correlation between excessive mortgage debt and financial crises.
Less discussed is the role of CMHC and the many federal and provincial tax incentives that tempt Canadians to buy homes instead of renting them. What Liepert was reacting to was a rare brush with a public servant who was willing to engage with politicians in an actual debate. [2] On Tuesday, January 14, 2020, Siddall announced that he would not be renewing his term at CMHC. It’s a figure you might expect to see on a Canadian finance Twitter thread, but it came from the head of the CMHC. What are the General Requirements to Qualify for Homeowner Mortgage Loan Insurance? Siddall is also a co-founder of craft brewery Side Launch Brewing Co.[4], Siddall has been a vocal defender of the Trudeau government's mortgage stress test which has made it harder to qualify for a mortgage in Canada.[5][6]. Taking lessons from the global financial crisis of 2008 and his career in finance, Evan spearheaded the Bank’s efforts in establishing financial infrastructure to guard against systemic risks, including “bail-in” loss-absorbing capital for large banks. He is a past president of the Power Plant Contemporary Art Gallery and the Osler Bluff Ski Club. Just to be clear, Siddall’s worried.



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