Item - 2026.CA33.6
Tracking Status
- City Council adopted this item on March 25 and 26, 2026 without amendments and without debate.
- This item was considered by Civic Appointments Committee on February 27, 2026 and was adopted with amendments. It will be considered by City Council on March 25 and 26, 2026.
CA33.6 - Appointment of Public Member to the Toronto Investment Board
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on March 25 and 26, 2026, adopted the following:
1. City Council appoint Lovisa McCallum to the Toronto Investment Board, at pleasure of Council, for a term of office ending on March 28, 2030, and until a successor is appointed.
2. City Council direct that Confidential Attachments 1a, 1b, and 2 to 4 to the report (February 18, 2026) from the City Clerk remain confidential in their entirety as they relate to personal matters about identifiable individuals being considered for appointment to the Toronto Investment Board.
Confidential Attachments 1a, 1b, and 2 to 4 to the report (February 18, 2026) from the City Clerk remain confidential in their entirety in accordance with the provisions of the City of Toronto Act, 2006, as they relate to personal matters about identifiable individuals being considered for appointment to the Toronto Investment Board.
City Council Decision Advice and Other Information
Appointee's Biography
Lovisa McCallum
Lovisa McCallum is a senior financial executive with 34 years of experience in BMO Capital Markets, where she managed large investment portfolios and oversaw liquidity and capital management for a $450B balance sheet. She established and led businesses across structured products, mortgage funding, fixed income and credit markets within rigorous regulatory and risk frameworks. Lovisa has served on public-sector boards for 20 years, including as Board Chair and Finance and Audit Chair at Michael Garron Hospital, overseeing strategy, financial stewardship and enterprise risk. She recently joined the Humber River Health Board, continuing her decades-long commitment to community service in Toronto as a trusted leader supporting transparency, accountability and strong fiduciary standards. Lovisa holds the Chartered Financial Analyst and Institute of Corporate Directors, Director designations and a Bachelor of Commerce in Finance, bringing deep expertise in investment oversight, financial governance and long-term institutional stewardship.
Confidential Attachment - Personal matters about identifiable individuals who are being considered for appointment to the Toronto Investment Board.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2026/ca/bgrd/backgroundfile-284470.pdf
Confidential Attachment 1a - List of Eligible Candidates, Qualifications, Confidential Diversity Information Summary, and Applications for Appointment to the Toronto Investment Board
Confidential Attachment 1b - List of Ineligible Candidates, Qualifications, Confidential Diversity Information Summary, and Applications for Appointment to the Toronto Investment Board
Confidential Attachment 2 - Confidential Diversity Information Summary for Current Members of the Toronto Investment Board
Confidential Attachment 3 - Skills Matrix for the Toronto Investment Board
Revised Confidential Attachment 4 - Interview Schedule for February 27, 2026
Confidential Attachment 4 - Interview Schedule for February 27, 2026
Communications (Committee)
CA33.6 - Appointment of Public Member to the Toronto Investment Board
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Confidential Attachment - Personal matters about identifiable individuals who are being considered for appointment to the Toronto Investment Board.
Committee Recommendations
The Civic Appointments Committee recommends that:
1. City Council appoint Lovisa McCallum to the Toronto Investment Board, at pleasure of Council, for a term of office ending on March 28, 2030, and until a successor is appointed.
2. City Council direct that Confidential Attachments 1a, 1b, and 2 to 4 to the report (February 18, 2026) from the City Clerk remain confidential in their entirety as they relate to personal matters about identifiable individuals being considered for appointment to the Toronto Investment Board.
Decision Advice and Other Information
Candidate's Biography
Lovisa McCallum
Lovisa McCallum is a senior financial executive with 34 years of experience in BMO Capital Markets, where she managed large investment portfolios and oversaw liquidity and capital management for a $450B balance sheet. She established and led businesses across structured products, mortgage funding, fixed income and credit markets within rigorous regulatory and risk frameworks. Lovisa has served on public-sector boards for 20 years, including as Board Chair and Finance and Audit Chair at Michael Garron Hospital, overseeing strategy, financial stewardship and enterprise risk. She recently joined the Humber River Health Board, continuing her decades-long commitment to community service in Toronto as a trusted leader supporting transparency, accountability and strong fiduciary standards. Lovisa holds the Chartered Financial Analyst and Institute of Corporate Directors, Director designations and a Bachelor of Commerce in Finance, bringing deep expertise in investment oversight, financial governance and long-term institutional stewardship.
Origin
Summary
The Civic Appointments Committee will conduct interviews and recommend one candidate to City Council for appointment to the Toronto Investment Board.
Background Information
https://www.toronto.ca/legdocs/mmis/2026/ca/bgrd/backgroundfile-284470.pdf
Confidential Attachment 1a - List of Eligible Candidates, Qualifications, Confidential Diversity Information Summary, and Applications for Appointment to the Toronto Investment Board
Confidential Attachment 1b - List of Ineligible Candidates, Qualifications, Confidential Diversity Information Summary, and Applications for Appointment to the Toronto Investment Board
Confidential Attachment 2 - Confidential Diversity Information Summary for Current Members of the Toronto Investment Board
Confidential Attachment 3 - Skills Matrix for the Toronto Investment Board
Revised Confidential Attachment 4 - Interview Schedule for February 27, 2026
Confidential Attachment 4 - Interview Schedule for February 27, 2026
Communications
Motions
That:
1. City Council appoint Lovisa McCallum to the Toronto Investment Board, at pleasure of Council, for a term of office ending on March 28, 2030, and until a successor is appointed.
2. City Council direct that Confidential Attachments 1a, 1b, and 2 to 4 to the report (February 18, 2026) from the City Clerk remain confidential in their entirety as they relate to personal matters about identifiable individuals being considered for appointment to the Toronto Investment Board.