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Board of Directors

Chirag Bhavsar
Randolph W. Pinna
President & CEO
Joseph August Johanne Brossard
Chitwant Kohli Mark D. Mickleborough
V. James Sardo Daryl Yeo


Chirag Bhavsar

Chairman of the Board

Mr. Bhavsar is the Chairman of the Board of Exchange Bank of Canada (“EBC”) and President of JMS Holdings, LLC. Previously, Mr. Bhavsar was Executive Vice President of Valley National Bank, Executive Vice President and Chief Financial Officer of CNLBank, Valley National Bank’s predecessor, a role he held since March 2002. Mr. Bhavsar was the Executive Vice President, Chief Operating Officer and Chief Financial Officer of Florida Choice Bank from April 1999 until March 2002, and Senior Audit Manager of Hacker Johnson Cohen and Grieb, a specialized Accounting and Auditing firm for state and regional banks, from 1992 to 1999. Mr. Bhavsar is also a director of Currency Exchange International Corp. (“CXI”), EBC’s parent company.

Mr. Bhavsar received his Bachelor of Science in Accounting from the University of Florida in 1990 and received his Master's degree in Accounting from the University of Florida in 1991. He graduated from Banking School at the University of Virginia in 1993.

Randolph W. Pinna

President, Chief Executive Officer

Mr. Pinna was appointed the Chief Executive Officer, President and Director of CXI, when it began operating in October 2007. From 1989 to 2003, Mr. Pinna was President, Chief Executive Officer and Director of Foreign Currency Exchange Corp., and remained in this role after the friendly acquisition by Bank of Ireland Group until October of 2007. Mr. Pinna was responsible for the growth of Foreign Currency Exchange Corp from a small, one-location operation in Tampa Bay, Florida, to being a multinational publicly-traded company on the TSX with over 30,000 customer and client bank locations.

At Bank of Ireland Group, Mr. Pinna was Chief Executive Officer for the North American Foreign Exchange Business and was involved in all aspects of the North American business, including asset management, lending, foreign exchange, and accounting.

Having graduated from the University of Central Florida with a Bachelor degree in Finance with a focus on International Business, Mr. Pinna has over 25 years of experience in international banking with an emphasis on foreign exchange.

Joseph August

Mr. August retired from the Royal Bank of Canada (2009) as Managing Director and Head of Foreign Exchange Services, North America. Mr. August was responsible for the development, marketing, delivery and end-to-end management of foreign exchange products in the personal and business markets across Canada and the United States. Mr. August previously lead the Foreign Exchange, Trading, Payments and Ancillary Products Group for Retail and Commercial Banking; the Business Development – Trading Products Team in Commercial Banking; Treasury's Product Management Group (foreign exchange, deposit, investment, interest rate risk management and precious metals); managed the hedging activity of the Bank's Foreign Currency Exposure Management Committee; and headed the Bank's Foreign Currency Exposure Management Group. He has also held various positions in Corporate Lending; Commercial Marketing – Cash Management; and Retail (Branch) Banking. Mr. August is also a director of CXI.

Mr. August graduated from Widener University with a BSc in Business Administration with a Major in Economics and Minors in English and Engineering.

Johanne Brossard

Johanne Brossard, MBA, ICD.D, is an accomplished senior executive with more than 30 years in the financial services industry in Canada, Europe and Japan. Ms. Brossard is currently a Corporate Director at Infrastructure Ontario as well as a public Financial Institution.

Her most recent role was President and CEO of Bank West, a subsidiary of Desjardins, from 2013 to 2014 and as Desjardins’ Vice-President of National Online Banking Development where she was instrumental in setting and implementing the turnaround plan for Bank West. Prior to that, she served three years as President and Chief Executive Officer of ResMor Trust/Ally Canada Company, a federally regulated trust company and a wholly-owned subsidiary of Ally Financial Inc. USA. In 1996 Ms. Brossard joined ING Direct where she served in various senior level positions over a 14 year period in Amsterdam, Japan and France, and where she held the position of President and CEO of ING Bank of Canada (ING Direct Canada and its subsidiaries) from 2003 to 2008. At ING, she played a key role in the in establishing the global ING Direct digital banking model, setting a new strategic direction for retail mortgages in Canada, launching ING Direct France and leading the transformational plan at ING Direct Japan. Ms. Brossard received her Master of Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario and has a General Management Certificate from INSEAD in Fontainebleau, France.

Chitwant Kohli

Chitwant Kohli has over 30 years of experience in finance, strategic planning, operations and real estate. Mr. Kohli recently retired as Senior Vice President of Enterprise Operations and Payments at Royal Bank of Canada (RBC) after 29 years of distinguished service. In this position, he led a group of 2,000 responsible for operating and expanding the Global Shared Services related to Payments and Trade, Cash Processing, HR related services and Finance related services. Mr. Kohli co-led the digitization of cheque processing and started pilot projects using blockchain technology at RBC.

Key leadership roles at RBC included: Senior Vice President of Retail Finance where he was responsible for providing finance leadership as CFO to Canadian Banking, Caribbean and U.S. Banking, Wealth Management, Insurance, Technology & Operations and Global Functions. Prior to that, he held executive level positions in Costing and Profitability, Corporate Real Estate, Canadian Banking Finance, Group Optimization and Performance Management.

Chitwant is a Chartered Professional Accountant (CPA,CMA). He holds Master of Business Administration and Bachelor of Commerce degrees. Chitwant is currently a board member of Trillium Health Partners. He is a past Board member of Symcor Inc, Moneris Inc, Canadian Payments Association and Ascend Canada. He has been a mentor at ‘Skills for Change’ – a United Way agency.

Mark D. Mickleborough

Mr. Mickleborough is a partner with the law firm Fournie Mickleborough LLP (since 2006). Prior to that, he was a partner with the law firm Rogers, Campbell, Mickleborough from 1997 to 2005. Mr. Mickleborough practices corporate commercial law and is a director of CXI.

Mr. Mickleborough graduated from Princeton University in 1982 and Osgoode Hall Law School in 1985 and has been practicing corporate and commercial law for the past 24 years in Toronto, Canada. During that period, Mr. Mickleborough has been a director of various private and public companies, including Foreign Currency Exchange Corp. (listed on the TSX) until 2002, and a closed-end investment trust inter-listed on the Toronto and London Stock Exchanges.

V. James Sardo

Mr. Sardo is a Corporate Director with extensive CEO and corporate governance experience. He is currently a director of New Flyer Industries Inc. and CXI. Previous directorships include: Consolidated Thompson Iron Ore Mines Limited, Hydrogenics Corporation, Countryside Power Income Fund, UE Waterheater Income Fund, Custom Direct Income Fund, SonnenEnergy Corp and Northstar Healthcare Inc.

Mr. Sardo was formerly President, Canadian Operations of Moore Corporation Limited, President and Chief Executive Officer of SMK Speedy International Inc., Chief Executive Officer of SNE Corporation and CEO and Director of Amre Inc. He is also the former Chairman and Chief Executive Officer of Firestone Canada Inc. and the President of Firestone Industrial Products Company.

He earned his Bachelor of Arts degree from the University of Western Ontario and a Masters of Business Administration degree from McMaster University. He is a member of the Institute of Corporate Directors and holds the ICD.D designation.

Daryl Yeo

Mr. Yeo is an experienced board director and retired senior executive with a proven track record of over 40 years in the financial services industry covering a broad spectrum of consumer and business client markets, trade finance and treasury management.

He has also played an instrumental role in the establishment of a Schedule 1 bank in Canada, with his involvement including oversight of all operational policies, establishment & implementation of an enterprise risk management framework, and implementation of internal financial controls. Since 2007, he has held the ICD.D designation.