photo to come

ConnectThe magazine for EY alumni in Canada

December 2013

positioned to winBruce McDonald

andPowered up

Cindy and Garnet Amundson Better balance, stronger connections

Colette RustadBuilding sustainable development, one mine at a time

Alain BenedettiPeople focus fuels success

EY Entrepreneur Of The Year™

Our 20th anniversary celebrations

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EY's 150th anniversary 7

Alumni in the news 17

Doing our part to build a 18 better working world

New alumni portal 19

Entrepreneur Of The Year update 20

Around EY 22

In this issueBetter balance, 5 stronger connections Calgary alumni Cindy and Garnet Amundson are making their mark on Canada’s oil and gas sector.

Powered up and positioned 8 to win Johnson Controls CFO Bruce McDonald on achieving career success and navigating a global organization in tough times.

Building sustainable value, 11 one mine at a time Goldcorp’s Colette Rustad talks about managing in an often unpredictable industry while helping foster sustainability in communities across the Americas.

People focus fuels success 14Retired EY Vice Chairman Alain Benedetti shares his thoughts on why people are the most important factor in everything.

ConnectThe magazine for EY alumni in Canada

December 2013

Editor-in-Chief: Maha Zabaneh

Managing Editor: David Johnston

Writers: Gordana Brkljaca, David Johnston, Marco Morelli, Amanda Olliver, Angie Quennell, Maha Zabaneh

Creative Director: Ian Clarke

Photography: Sara Borck, Tim Fraser, Martine Larose, Paul McGrath, John Nienhuis

Connect magazine is printed in Canada by CONTAC Services.

© 2013 Ernst & Young LLP. All Rights Reserved. A member firm of Ernst & Young Global Limited.

1152516ED None

This publication contains information in summary form, current as of the date of publication, and is intended for general guidance only. It should not be regarded as comprehensive or a substitute for professional advice. Before taking any particular course of action, contact Ernst & Young or another professional advisor to discuss these matters in the context of your particular circumstances. We accept no responsibility for any loss or damage occasioned by your reliance on information contained in this publication.

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hese are exciting times for us at EY. We’ve refreshed our brand globally with a bold new logo and clear statement of our purpose. We’re off to a strong start in achieving the long-term goals we’ve set for ourselves, with impressive growth

across our business and a wide array of new opportunities. And we’re getting ready for our biggest celebration ever in 2014 — our 150th anniversary in Canada!

As our alumni, you’ve played an integral role in making us who we are today, and I hope you’ll feel the same pride as we do in marking 150 years serving Canadian business — and beyond. A century and a half is a rare milestone for an organization — we’re older than the country itself — and a testament to the hard work and vision of the men and women who have contributed so much to build our business over the years.

In the following pages, you’ll see how we’re living our purpose, and read inspirational stories of alumni who are also helping build a better world in a variety of ways.

Toronto alum Bruce McDonald shares his thoughts on what it takes to be a CFO of a major global corporation, especially in dire economic times, and why transparency is key to keeping customers and stakeholders happy.

Cindy and Garnet Amundson in Calgary are an alumni couple who are devoting their combined energy to Canada’s oil patch in very different ways, but one thing they share is that they both attribute their success to their EY experience and connections.

On the West Coast, Colette Rustad is bringing her global mindset to her role overseeing Goldcorp’s vast mining network throughout the Americas and helping the mineral giant achieve sustainability in a volatile market.

And retired EY Vice Chairman Alain Benedetti talks about why people are the most important element to everything — and why effective boards are built on a solid foundation of firm values.

These stories showcase just a few of the thousands of fantastic people who have contributed to EY’s success in Canada for nearly 150 years, and it’s no wonder that we’re able to celebrate this remarkable milestone with so many high-calibre men and women who make up the EY family.

While we’re celebrating our history, we’re firmly focused on our future — and more optimistic than ever about how we can influence the world for the better.

I wish you and yours all the very best for a warm, happy and festive holiday season, and I look forward to connecting with you again in 2014.

Trent Henry Chairman and Chief Executive Officer

M essage from Trent Henry, Canadian Chairman and CEO

WelcomeT

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Cindy and Garnet Amundson

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words: Angie Quennell photography: Paul McGrath - PMG Image

stronger connections

Better balance,

indy and Garnet Amundson’s story may have started conventionally when they met as accounting students at university and then articled at the firm in 1984. But since then, the couple has stood out from the crowd on every level. From Cindy

diving back into the corporate world through an alumni connection to Garnet starting an entrepreneurial endeavour, the couple has balanced successful careers — Cindy as manager of financial reporting at Pembina Pipeline Corporation and Garnet as President and CEO of Essential Energy Services — and a close-knit family every step of the way.

Early support helped launch a great careerCindy started with EY in Calgary, but early in her career temporarily transferred to the Toronto office. It proved to be a great boost to her career.

“In Toronto, I significantly expanded my professional horizons,” she says.

And support from one partner, in particular, was a key driver of her success. She recalls Ron Buckle not only encouraged her but created advancement opportunities. Working with Ron, Cindy quickly advanced to a senior managerial role.

“Ron pushed me and gave me the confidence to take risks,” says Cindy. “He entrusted me with a lot of responsibility and contributed to my personal and career development.”

One small, painful step, one giant leapSometimes it takes one small, unplanned step to put you on the track to career success. Garnet found that out the hard way.

Unlike Cindy, Garnet’s journey into accounting wasn’t planned. He went to work on Alberta’s oil rigs straight out of high school, but his work as a labourer ended suddenly. One day, as he was climbing up the front of a large diesel engine at the rig, his left foot slipped into a large cooling fan — and the front half was severed.

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“As an oil and gas entrepreneur, things will never go as you expect. There’s always going to be a political or regulatory speed bump in your near future.”

Forced to find a new type of job, he was generously contacted by a local CA, who he later learned was an EY alum, who owned a public practice firm in Red Deer. “I found I really enjoyed small business accounting and decided to go to university,” Garnet recalls. It was shortly thereafter, in 1984, that Garnet joined EY, where he stayed for the next ten years.

But Garnet had an entrepreneurial fire burning within, and a desire to go back to the oil patch. In 2004, he co-founded Builders Energy Services Trust. “I had this desire to see if I could take my cumulative knowledge and apply it,” he says. The company eventually became Essential Energy Services Ltd., where he’s been president and CEO for nine years.

Garnet has learned many lessons along the way. “As an oil and gas entrepreneur, things will never go as you expect. There’s always going to be a political or regulatory speed bump in your near future.”

Garnet’s focus on people goes well beyond the ones he sees in the Calgary office every day. “We have about 1,100 employees in Western Canada, and I’ve met some of the most brilliant, impressive and high-integrity people in my career from that workforce. It’s not just the people in the office — it’s also the dedicated, strong people working out there in the cold.”

Rewriting the rulesThe Amundsons successfully balance family with their careers. But the journey of raising a family wasn’t always a clear path for the ambitious couple. When they started their family, the long hours at work proved to be a challenge, and they worked together to find balance — even making history along the way.

In 1993, Garnet became the first man in EY history to take paternity leave by splitting the six-month parental leave with Cindy. “People told me I was sabotaging my career,” he says. “But it was the right choice for our family.”

A few years later, one of their children became very ill and Cindy quit her job to make family her priority. Fourteen years later and with their children driving and independent, Cindy was ready

for a new challenge and rejoined the corporate world in 2010. “The transition was exhilarating, and it’s been a really positive experience,” says Cindy.

While that amount of time away from the workforce would be a hurdle for anyone trying to come back, Cindy credits her successful transition to maintaining confidence in the core skills and work ethic she developed during the first ten years of her career, as well as to attending courses, taking sporadic contract work, volunteering and maintaining relationships.

“Don’t be intimidated by change,” she advises. During her time away from professional work, she stayed on top of accounting changes such as Sarbanes-Oxley and International Financial Reporting Standards to stay current in her field until she was ready to rejoin the workforce.

“I was at our son’s basketball game and mentioned to Mick Dilger, President and COO of Pembina Pipeline — and an EY alum — that I was planning on going back to work,” Cindy says. “He called me six months later to share a posting in their finance department.”

Cindy and Garnet show that the path to success and fulfilment need not be conventional — but keeping close ties with EY alumni is definitely a best practice.

Board member at Ghost River TheatreDowntime means family time at the lakeLife motto “Be true to yourself.”

More about CindyWatersport enthusiast – especially the hydrofoil/airchairMember of Service Rig Executive Committee with the Canadian Association of Oilwell Drilling ContractorsLife motto "You can never go back."

More about Garnet

Cindy and Garnet Amundson

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ext year is an incredible milestone for EY in Canada, marking our 150th anniversary as a firm! Our history stretches back further than the country itself and, during

that time, we’ve built our reputation on quality, trust and integrity.

We’re proud of our 150 years of success — and the major part you played in it. Next year, let’s celebrate together our roots, our journey and our future — from our founding as a trustee and receivership business in 1864 by Thomas Clarkson to today, where we’re building a better working world for our alumni, people, clients and communities.

We have many exciting plans for our 150th anniversary celebration across the country next year, including themed building decorations in our major markets and an exciting Globe & Mail promotional campaign to hit newsstands. And look out for a special edition of Connect magazine that will celebrate your contributions and commemorate this exciting time — keep it as a souvenir of our relationship with you.

It’s great to be able to look back at the memories and milestones that have taken us to 150 years. We want to capture your stories in creative ways and share them in our special edition of Connect, as well as on a new online celebratory, interactive landing page that will launch next year.

Visit alumni.ey.com frequently for a calendar of events and updates on activitites during the anniversary year. (See page 19.)

Thank you to all our alumni for the lasting contribution you've made to our 150 years of success — and counting!

and going strong

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150 years young

Send us your contributions for a chance to win a round-trip flight anywhere in Canada. Visit ey.com/ca/alumni150 and enter your responses to the following two questions:1. In 150 words or less, how has EY helped you build

a better career?

OR

In 150 words or less, please share your favourite EY moment.

2. How would you describe EY in one word?

Only submissions received by midnight on 31 January 2014 will be entered in the random draw. Note that your submission may not necessarily be used, but if it is, we reserve the right to shorten it.

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Bruce McDonald

ruce McDonald knew early in his career he wanted to be the CFO of a large, publicly listed company. As Executive Vice President and CFO of Johnson Controls,

he’s not only achieved that dream, he’s also been named one of America’s Best CFOs.

While he’s quick to acknowledge this recognition reflects his great team, he also credits his career path to a great piece of advice he received while still a financial analyst.

“I remember talking about my career and was told that if I wanted to be a VP of Finance of one of our divisions, I wouldn’t get there by rotating through corporate HQ positions – I needed to go into one of our businesses and get some international experience,” he says. “It’s the best advice I ever got.”

He took the advice to heart, moving to an operational role in the UK with his employer at the time, Varity Corporation, a farm equipment manufacturer. From there, he took on roles of increasing responsibility, which led him to a VP Corporate Controller position at Johnson Controls in 2001. He was appointed CFO in 2005.

McDonald now oversees the IT, investor relations, treasury, accounting, financial analysis and tax functions of the NYSE-listed company from its corporate headquarters in Milwaukee. Johnson Controls is a global diversified multi-industrial company with core businesses in the automotive and building industries.

“We’re a large organization made up of three different businesses and lots of sub-businesses,” says McDonald. With 168,000 employees, the majority of whom are outside North America, Johnson Controls serves customers in more than 150 countries.

Communication is keyNot surprisingly, given such a vast organization, McDonald puts communication at the top of his priorities. “Keeping up with things and letting people know how we’re doing are really important,” he says.

In addition to keeping close to his own teams and ensuring reporting requirements to the board and finance and audit committees are met, he’s also in regular contact with the investment community. “We’re a publicly listed company, so we spend a lot of time with our stakeholders and potential shareholders — we have to know them all.”

And that shows. Johnson Controls has been named one of America’s Most Shareholder-Friendly Companies by Institutional Investor magazine, thanks to its “superstar” investor relations team and the efforts the company makes to be transparent about their business strategy and its financial ramifications.

“We get a lot of credit for admitting we don’t get everything right,” says McDonald. “When things are bad, the last thing you might want to do is talk to shareholders, but in tough times, you need to do it twice as much.”

andPowered up

positioned to winB

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words: Gordana Brkljaca photography: John Nienhuis

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“When things are bad, the last thing you might want to do is talk to shareholders. But in tough times, you need to do it twice as much.”

Birthplace North Bay, OntarioFavourite books Crime novels and biographiesRecent travel China and Germany for business

More about Bruce

Highs and lowsAnd there was no greater time of need than the global financial crisis. McDonald says it was “a very scary time,” particularly the speed with which the automotive industry was affected, and something he wouldn’t want to go through again.

“Over a four-month period, we went from profitability to losing $100 million a month,” he says. “I remember sitting with the CEO, reforecasting. Each time we couldn’t believe how bad it was, it would be worse,” he says. They took some very aggressive actions to get to a break-even level within a few months.

Part of the saving grace was their diversified business and an investment they’d made in 2005 with the $3-billion acquisition of York, a commercial heating, ventilation and air-conditioning (HVAC) equipment manufacturer.

“The acquisition completely transformed our company,” he says. “Within a few years we went from being primarily automotive to a multi-industry company.”

Fortunately, commercial HVAC is one of the last industries to fall victim to a recession, and along with the existing battery business, this helped the company weather the financial storm.

The importance of givingMcDonald started his career with Clarkson Gordon in 1983 and spent two years at our Mississauga office after graduating from McMaster University. “In my first year, everyone had to sign up for the income tax clinics,” he says. “I went to a retirement home and I still remember a sweet old lady was so grateful when I told her she’d be getting a refund, that she started to cry and then wanted to pay me! The firm set the expectation that we would give back, but I quickly learned that giving also feels good.”

That giving has continued, both personally and professionally. Today McDonald serves as Chairman of the board of directors for Columbia St. Mary’s Hospital in Milwaukee, he’s a member

of the board of trustees and treasurer for the Milwaukee Art Museum and he serves as treasurer and a member of the board for the United Way of Greater Milwaukee.

“It’s important to set the example at the top,” he says. “We expect our people will participate in the community. We’re the largest public company in Wisconsin and a major employer in Milwaukee — if there’s anything going on in the community, there’s usually someone from Johnson Controls involved.”

Finding balanceWith a global team, busy travel schedule, community boards and so many demands on his time, how does he do it?

“I’m incredibly supported,” says McDonald. “I’ve moved a lot and my family has come with me. My wife Antonette is very supportive and understanding of all the things that I’ve missed.”

He admits that he’d love to find more time to golf, an activity he enjoys with Antonette. He also likes to relax by reading, spending time with family and friends and heading to Florida, where he’s currently looking for a boat, which will help him retreat from Wisconsin winters.

Advice for budding CFOsMcDonald says, “Accounting is a great career starter; it opens your eyes to a lot of different things. Most business decisions will go through finance eventually. You have to understand how your business makes money and you need a profit instinct. In today’s business world, you can’t advance your career without international experience.”

Bruce McDonald

“In today’s business world, you can’t advance your career without international experience.”

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Building sustainable value, one mine at a time

Colette Rustad

From the management team at one of the world’s fastest-growing senior gold producers to her role in her community, Colette Rustad knows the value of taking control and being an active participant.

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words: Marco Morelli photography: Sara Borck Photography

Colette Rustad

ow entering her third cycle in the gold business, Rustad, Senior Vice President and Controller of Vancouver-based Goldcorp Inc., is at the top of her game building

high-performing teams around the world and adapting to an ever-changing market landscape.

In 2007, Rustad joined Goldcorp full time as Controller after working for the publicly traded resource giant in both Brazil and Mexico as a consultant. With the company going through a period of exponential growth through acquisition at the time, her first order of business was building local finance teams capable of implementing a common corporate vision and set of reporting and compliance objectives, while allowing the culturally diverse site leadership to effectively run the business.

Managing across bordersGoldcorp has operations and development projects in Canada, the US, Mexico, Central and South America, which presents Rustad with challenges beyond physical boundaries and cultural values.

“We have an extremely decentralized model, where decision-making is at the sites,” says Rustad. “My responsibility has been to really ensure that model works.”

“It’s about having the right people in the right positions, who can sit at the decision-making table and demonstrate how compliance and finance are relevant to the business and add value,” she says.

“I’m proud of what we’ve built in various parts of the world,” she says. “We’ve created an environment where different cultures and people with diverse business backgrounds have been able to flourish.”

Rustad has lots of experience working in an industry that functions within a changing macroeconomic environment. She attributes a company’s people and its ability to stay on top of its cost structure as the primary way to remain competitive as metal prices consistently fluctuate.

“I’ve seen what it’s like to be in the gold business when times are tough. You need to run your business with that volatility in mind,” she explains. “It’s really important to take what you’ve learned in a downward cycle and use it to influence what you do in the good times.”

Setting the foundationRustad credits her eight years working at EY in Toronto for laying the groundwork for her career. She values the opportunities she had to work with extraordinary leaders on a multitude of projects in a whole host of industries. The strong foundation to see things from all angles as well as leveraging diversity of thought, she says, come from the time she spent working with clients at financial institutions and in the resource sector on both audit and tax teams at EY.

“EY gave me the breadth and bandwidth to tackle the challenges of balancing the different stakeholders of the business I’m now in,” she says. “I had the benefit of being exposed to all the great things that the banking system and the regulatory system had to offer in the early days.”

Rustad is dedicated to ensuring her teams — both at the sites locally and at headquarters in Vancouver — are in compliance with government and regulatory bodies globally.

“What it really comes down to is politics,” she says. “Educating governments and the various stakeholders about the benefits of mining has never been the industry’s strong suit, and we continue to focus on how to effectively convey this message to governments and stakeholders around the world.” Rustad says finance has a major role to play to articulate the value equation, helping those key players understand when the rewards outweigh the risks, and vice versa.

It’s apparent Rustad also values the balance between work, family life and the community. She encourages people to build sustainable value in every facet of their lives.

And this is a concept she believes in wholeheartedly. “This is why I do what I do.”

“Companies such as Goldcorp have a duty to respect the environments and communities where they do business.”

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Enjoys travelling, biking, golfing and hosting backyard barbecues.

More about

Colette

Building a social licenceGetting involved in the community is more than important for both Goldcorp and Rustad, it’s integral.

Rustad believes companies such as Goldcorp have a duty to respect the environments and communities where they do business. “There’s tremendous opportunity to effect real change by being at the forefront in some of the poorest areas of the world,” she explains. “Boosting the GDP of these nations and taking an active role on the ground spark real change.”

Getting involved in her own community at home in Canada is another way Rustad helps improve the lives of others. She is a staunch supporter of the United Way and is a champion for seniors’ care.

She always makes time for family and friends. Whether it’s spending days off with her husband, Bruce, and their two daughters, Kaitlyn, 12, and Arielle, 10, or spending time with her girlfriends hiking the Grouse Grind in North Vancouver, she values every moment.

Rustad believes making the most of opportunity is the key to success. “Always find a way to say yes to an opportunity that crosses your path. Create opportunities and make valuable contributions and connections.”

And it’s clear that she follows her own advice. “I’m always learning and acquiring new skills, always adding value — in all areas of my life.”

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A lain Benedetti

People focus fuels

SUCCESS

Many things changed from the time Alain Benedetti joined the firm in 1970 to his retirement in 2004. Technology revolutionized the way we do business. Reforms and regulations led to better governance. The world became more connected than ever before. And EY grew and became much more integrated globally. But one thing remained constant throughout Benedetti’s career — his focus on people.

words: Amanda Olliver photography: Martine Larose Photographe

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The people piece is key to the business“I was always impressed by the people around me at EY,” Benedetti recalls fondly. “I’d look at the partners and say, ‘Boy, isn’t he or she good?’ They became role models to me. I strived to be one of those people.”

An emphasis on the mentoring framework that sees EY people learn from one another is something he says the firm gets right.

Benedetti first joined Clarkson Gordon 43 years ago. Initially, he thought he’d get some experience and then move out into industry.

“I was hoping to get a job for two years, and I ended up spending almost my entire working career with the firm,” he laughs.

Following his first number of years in Montreal’s Assurance practice, Benedetti moved to Ottawa in the late 1970s where he worked in the Auditor General of Canada’s office for two years. After helping build and implement new “value for money” auditing systems, he returned to Montreal, where he was named a partner in 1979. He became Montreal Office Managing Partner in 1990.

By 1993, Benedetti was Regional Managing Partner for Quebec and Atlantic, and was named to the firm’s Management Committee. He finished his career as Canadian Vice Chairman in Toronto, and then returned home to Montreal when he retired in 2004.

Benedetti credits the people factor as a huge contributor not only to his own achievements, but to the firm’s continued success over the years.

“The firm teaches you teamwork — you very seldom do anything by yourself. Everything is based on collaboration, and you learn a lot,” he says. “Being a managing partner, whether of an office or a region, is really all about dealing with people, and ensuring not just that they’re doing the right thing, but that they’re properly motivated. I made lifelong friendships through those experiences.”

Community connection another critical pillarBenedetti is also quick to connect that focus on people to EY’s purpose of building a better working world.

Always involved in the broader community, Benedetti says he can certainly relate to that purpose.

From education to health care, to culture and neighbourhood planning, he’s volunteered in countless ways over the years. Among his roles, Benedetti has chaired or served on the boards of the Loyola Alumni Association, Concordia University, St. Mary’s Hospital, the Canadian Club of Montreal, the St. Lambert Urban Planning Commission, the Marcil Museum and many more.

He highly recommends that kind of community involvement to others, too.

“You’ve got to get involved in outside activities,” notes Benedetti. “Get out there and meet some people outside the firm. The benefits go both ways.”

“I was hoping to get a job for two years, and I ended up spending almost my entire working career with the firm!”

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A lain Benedetti

Values and culture help develop strong board membersSince retiring, Benedetti has served on the boards of directors of Dorel Industries, Imperial Tobacco and Russel Metals, and as chair of the Canadian Institute of Chartered Accountants.

While he cites transparency and keeping up with technology as the key challenges board members face today, Benedetti has seen major improvements in both areas over the last 20 years, changes that he says have created better governance overall.

“In my lifetime, I’ve seen tremendous change, and technology has really led that change — technology followed by transparency,” he says. “It’s a lot more of an open world today than it was 20 or 30 years ago, and better transparency has led to stronger governance.

“To be a good board member, you have to be fully independent and skeptical,” Benedetti says. “You can’t be concerned about asking tough questions. We have some very tough board meetings where we deal with tough issues. You’ve got to stand up for what you believe is right — even if it makes you unpopular.”

Staying close to the people in his worldBenedetti has been married for 40 years to Lynda, a social worker who helped him develop his people philosophy. They have three children — two chartered accountants as well as one Ph.d. in bio statistics — and three grandchildren.

He exudes a passionate, go-for-it spirit that figures prominently in the advice he’s always given his children, and others he’s worked with or met along the way: “Don’t wait for the hand of God. If you want something, go for it, and get it.”

Books he suggests…. The Seven Habits of Highly Successful People

Words he believes in “Criticism only makes you better, if you act on it.”

Advice “Pick some role models. Find a subject or industry and become a leader in that area. EY provides you that freedom.”

More about Alain

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Our alumni in the news

• Sean Boyd (EY 1981-85, Senior Staff, Assurance, Toronto) was appointed to the board of directors of the Princess Margaret Cancer Foundation in October. Sean is the President, CEO and a director of Agnico Eagle Mines Limited.

• Derek Flaman (EY 1999-2001, Manager, Legal Services, Calgary) joined the Torys partnership in the firm’s energy practice in Calgary this summer. Derek is recognized as a leading energy lawyer with a practice that includes mergers and acquisitions, joint ventures, onshore and offshore exploration and production matters, and pipeline and transportation matters.

• James F. Hankinson (EY 1975-78, Senior Staff, Assurance, Toronto) was appointed Chairman of the Board of CAE Inc. in August. Most recently, James was the Chief Executive Officer and President of Ontario Power Generation Inc. He sits on the boards of Shoppers Drug Mart Corp., Jannock Limited and Shoppers Home Health Care.

• Kevin Jennings (EY 1994-97, Senior Staff, Assurance) was recently appointed CFO of SUN Gold. Previously, Kevin was CFO of African Barrick Gold plc.

• Jocelyn Kohlmaier (EY 2011-13, Senior Manager, Advisory, Toronto) was appointed Vice President of Planning at Healthtech Consultants.

• Ron M. McKenzie (EY 1968-72, Manager, Assurance, Vancouver) was appointed Chair of the Audit Committee at the Royal Vancouver Yacht Club this summer.

• Carol Neal (EY 1985-98, Executive Director, Corporate Recovery & Insolvency, Toronto) is now Chief Auditor, BMO Financial Group. Carol joined BMO in 1998 as Vice President and Chief Administrative Officer, Asset Management Services. She was appointed Vice President and Chief Financial Officer, Private Client Group, in 2006.

• Aaron Regent (EY 1988-91, Senior Staff, Assurance, Toronto) was appointed to the board of directors of Scotiabank in September. Aaron is the Managing Partner of Magris Resources Inc. He was President and Chief Executive Officer of Barrick Gold Corporation from 2009 to 2012. Previously, he was Senior Managing Partner of Brookfield Asset Management and Co-Chief Executive Officer of the Brookfield Infrastructure Group, and President and CFO of Falconbridge Limited.

Alumni in the newsJim Turley elected to Citigroup boardFormer EY Global Chairman and CEO Jim Turley was elected to the board of directors of Citigroup Inc. in July. He also joined the board of directors of Citibank.

Jim retired from EY at the end of June after a 36-year career with the firm, including the last 12 years as Global Chairman and CEO.

Read more about Jim and our new Global Chairman and CEO Mike Wienberger on pages 18 and 25.

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y now, you’ve noticed that we’ve made some changes to our look, with a bold new logo and statement of what we do. “Building a better working world” has

always been our purpose — it’s the reason we come to work each day and it’s how everyone who’s had a hand in shaping EY built our reputation for 150 years in Canada. Now, we’ve made this our tagline, keeping it front and centre in who we are.

But what do we mean by building a better working world?

In a better working world, trust increases, capital flows smoothly and investors make informed decisions. Businesses grow sustainably and employ more people, consumers spend their dollars and governments invest in their citizens.

“We believe everything we do — every audit, every tax return, every advisory opportunity, every interaction with a client or colleague — should make the working world just a little better than it was before,” says EY Chairman and CEO Trent Henry.

“Above all, we hope our purpose will inspire everyone in the EY community, our alumni family and beyond to think optimistically about the future — leading us all toward bigger and more ambitious ideas, and from there, to the actions that will bring them to life.”

Learn more at ey.com/BBWW.

Doing our part to build a

Meet Mark Weinberger – EY’s new global leader

On 1 July 2013, we welcomed Mark Weinberger as our new Global Chairman and CEO.

Mark has had a distinguished career with a track record of leadership

both inside and outside EY, and he has a passion to lead.

“Being Chairman and CEO is a great opportunity to work with our best clients all around the world,” Mark says. “But it’s also a great opportunity to empower and help our people grow, to help them succeed in what they’re doing day in and day out. What inspires me is being around people who are happy, positive, energetic, confident and proud of what they do, because you immediately attract to that and you become part of that.”

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EY Alumni Network portalA fresh new look, better benefits, a global network and more!

Let’s connect soon on alumni.ey.com!

e’ve launched a new global EY Alumni Network portal, and Canada was the first country to go live in July. The UK and Ireland came on board in September, with the US, Germany, Switzerland and France scheduled to launch in early 2014. Other countries will join gradually, and for our alumni this means access to strong, well-connected local and global networks.

The new site has a fresh look and incorporates many enhancements based on your valuable input. The upgrades include a robust new career toolkit, access to EY thought leadership and learning events, an enhanced event calendar, greater LinkedIn integration, easier registration and navigation, and lots more.

Come and visit now by following these steps:

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The new and improved

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Unregistered alumniGo to alumni.ey.com.

Select your local network and language (e.g., Alumni Network Canada (English)).

If you’re certain that you have not registered on the previous site and this is your first visit to the EY Alumni Network, proceed to “Create new account.”

Complete the online form, which requires your EY rank, hire and end months and years for verification purposes. If this fails or you don’t remember these dates, please contact us at alumni@ca.ey.com. We will respond within 24 hours.

Submit the form and proceed to build and update your profile so you can start taking advantage of Network membership.

✓ Registered alumniGo to alumni.ey.com.

Select your local network and language (e.g., Alumni Network Canada (English)).

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If the “Forgot your password?” fails (this will only be due to mismatch of the primary email), contact us at alumni@ca.ey.com. We will respond within 24 hours.

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EY Entrepreneur Of The Year

Brightest entrepreneurs

he five regional galas saw a diverse range of talented entrepreneurs honoured for their achievements,

as well as special recognition bestowed for unique contributions to entrepreneurship in Canada.

“This was an amazing year from beginning to end,” says Canadian EY Entrepreneur Of The Year Director Colleen McMorrow. “What better way to pay tribute to building a better working world than by celebrating the successes of those who build on a daily basis and from generation to generation, Canada’s entrepreneurs?”

The year culminated with the national awards ceremony in Toronto on 27 November, where Geoffrey Smith of Mississauga’s EllisDon Corporation was named Canada’s EY Entrepreneur Of The Year 2013 at an extraordinary gala where Cirque du Soleil dazzled attendees with a special performance.

EllisDon took home the top national honour for its success in growing from a local Canadian contractor into a globally focused construction services provider. Smith was acknowledged for seeing the company’s potential and taking the big risks to achieve it.

Tat 20th anniversary galas

come outto shine

words: David Johnston photography: Tim Fraser

Canada’s 20th EY Entrepreneur Of The Year Geoffrey Smith of EllisDon Corporation receives the top award from Entrepreneur Of The Year National Director Colleen McMorrow and EY Chairman and CEO Trent Henry at the national gala in Toronto on 27 November 2013.

When you’re celebrating your 20th anniversary, you want to surround yourself with the brightest people. And that’s just what more than 5,000 guests did at the EY Entrepreneur Of The Year Awards galas this year.

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Atlantic Entrepreneur Of The Year Francis McGuire of Major Drilling Group International (centre) with EY’s Sonya Fraser and Jim Lutes, Atlantic Director, EY Entrepreneur Of The Year

Left to right: Rob Jolley, Prairies Director, EY Entrepreneur Of The Year, and EY’s Channa Martineau present to Prairies Entrepreneur Of The Year Dale Wishewan of Booster Juice.

Canada’s EY Entrepreneurial Winning Women class of 2013 Corin Mullins of Holy Crap Cereal and Kelsey Ramsden of Belvedere Place Developments (left and third from left, respectively) with Rebecca MacDonald of Just Energy Group Inc. (second left) and Carrie Marchitto, Canadian Program Sponsor, EY Entrepreneurial Winning Women.

“Geoffrey’s story of joining the family firm as the next generation of leadership and taking the company to the next level and beyond is a shining example to other private company owners who have their sights set on ever bigger ambitions,” McMorrow beams.

Smith will go on to represent Canada and vie for the World Entrepreneur Of The Year Award in Monaco next spring.

The year also saw lifetime achievement awards presented to former Newfoundland and Labrador Premier and longtime business builder Danny Williams in Atlantic, and to Quebec paper pioneers Bernard, Laurent and Alain Lemaire, founders of Cascades.

Karen Flavelle of BC’s legendary Purdys Chocolatier took home the EY Family Business Award of Excellence in honour of her family’s legacy of building an iconic Canadian brand over successive generations.

And in Ontario, Governor General David Johnston was honoured with the Supporter of Entrepreneurship award for helping create a robust climate for entrepreneurship throughout his long career as an educator and administrator.

“This was the first year we awarded the Supporter award,” says McMorrow, “and it was richly deserved for His Excellency’s vision to combine scientific research and entrepreneurial zeal in the Waterloo region. It’s helped set the stage for businesses to do what they do best — move the economy forward.”

Our 20th anniversary celebrations were big, but we’re just getting started. We’re looking forward to kicking off our next 20 years on 1 March 2014 to coincide with EY’s spectacular 150th anniversary in Canada. And we'll need your help to nominate Canada's best entrepreneurs.

To stay on top of all the happenings, visit us at ey.com/ca/EOY and visit us on Twitter @EYCanada #EOY20.

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Around EY

RetirementsThe people who have built our business are among the most influential and sought-after professionals in Canada, and we wouldn’t be who we are today without your contributions to the profession and to the firm. All our alumni leave a lasting impact, and we strive to maintain strong relationships with you beyond your EY years.

Congratulations to this year’s retiring partners — our newest alumni — who have made EY stronger and better. We wish them continued success in the years ahead. For more about this special group, including snapshots of their career journeys and contributions to the firm, visit alumni.ey.com.

Bill Brebber

Leon Chin

Jacques Dostie

David Dunkin

André Grondines

Marcel Guilbault

Allan Krochmalnek

Jim McIlwham

John Murphy

Terry Pearson

Joe Pernica

Paul Roberts

Greg Rodych

John Stein

Roger Taylor

Maurice Tremblay

They say it’s lonely at the top — but we love being there! EY is the world’s most attractive professional services employer, according to Universum’s annual World’s Most Attractive Employer (WMAE) ranking, released on 17 September. And we’re the second most attractive employer globally — next only to Google — the most attractive employer among the Big Four in 7 of the 12 largest economies by GDP.

We’re also proud to have been named one of Canada’s Top Employers for Young People! The listing recognizes the country’s leaders when it comes to empowering recent graduates to build long-term, meaningful careers.

The editors of Canada’s Top 100 Employers selected 80 of Canada’s Top Employers for Young People based on the calibre of programs for younger workers, such as career and work-study opportunities, and mentorship and training.

2013

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Welcome backElshad Aliyev moved back to Canada in October as an Assurance partner in our Energy practice in Calgary. In 2008, he transferred to Astana, Kazakhstan, to lead the audits of the Kazakhstan Sovereign Wealth Fund and national oil company Kazmunaigas.

Pat Quinlan, Partner, Advisory, CalgaryPat was a partner at EY from 1992 to 2000, when he became a vice president with Capgemini. He rejoined EY this year as an Advisory partner in Calgary and brings a global perspective thanks to his experience in more than 40 countries.

The construction of a new EY Tower in Toronto officially started on 16 October 2013 with a ceremonial ground breaking by Chairman and CEO Trent Henry, GTA Managing Partner Eric Rawlinson and other members of our executive. All EY people in the GTA will be moving into the new building located at 100 Adelaide Street West in May 2017.

“This tower will be a significant step on our bold path forward,” says Trent. “We’re already a global leader in professional services, but over the next decade we plan to distinguish our firm and brand even more. Our new Toronto landmark is part of

that picture. And for the first time, the EY logo will shine proudly over the Toronto skyline.”

Our new EY Tower is an exciting opportunity to bring all our people together under the same roof — and speaks directly to our Vision 2020 purpose of building a better working world. We’ll create our own Workplace of the Future — an innovative, flexible, technologically enhanced space that will encourage high-performance teaming, enabling us to deliver exceptional client service.

New EY Tower breaks ground

EY Chairman and CEO Trent Henry, right, and Oxford Properties President and CEO Blake Hutcheson prepare for the EY Tower ground breaking. Model of the new EY Tower, right.

WelcomeJeff Pickett, Partner, Tax, SaskatoonJeff joined EY through our merger with Saskatoon-based SRED Automation. He has more than 15 years of experience providing advisory and tax services to large and small organizations.

Dalton Albrecht, Partner, Tax, TorontoWidely regarded as one of the top indirect tax, customs and international trade lawyers in Canada, Dalton joined allied firm Couzin Taylor LLP as a partner earlier this year.

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Dalton AlbrechtPartner, TaxToronto

David McQueenPartner, AdvisoryToronto

Nora Hartley-Robinson Associate Partner, TaxCalgary

Pat QuinlanPartner, AdvisoryCalgary

Laurent Liagre Partner, Assurance Montreal

Brent Beekenkamp Associate Partner, Transactions, Toronto

Barb Morton Partner, TransactionsCalgary

Damian Eleftheriou Partner, AdvisoryToronto

Daniela Carcasole Partner, AssuranceToronto

Julie Taylor Director, AssuranceToronto

Sivan Ilangko Associate Partner, Assurance, Toronto

Martin McGrathPartner, AdvisoryToronto

Saskia GoedhartPartner, AdvisoryToronto

Andrew Cochran Partner, TransactionsToronto

Tony Wark Associate Partner, TaxOttawa

Kelly Khalilieh Associate Partner, Assurance, Toronto

Kathryn Bankowski Associate Partner, Assurance, Saskatoon

Thibaut Millet Associate Partner, Assurance, Montreal

Mike Haycox Associate Partner, Advisory, Saint John

Lee Boswell Associate Partner, TaxToronto

Ravi Sreedharan Associate Partner, Transactions, Toronto

Neil Loppe Associate Partner, Advisory, Toronto

John Bethel Partner, AdvisoryVancouver

Steven Maynard Partner, Advisory Halifax

Andrea Feddema Partner, AssuranceLondon

Cathy Cobey Associate Partner, Assurance, Toronto

Ann-Marie Urquhart Director, EY GlobalToronto

Roxanne Israel Partner, TaxCalgary

Greg Boone Partner, TaxCalgary

Brock McMillan Partner, TransactionsCalgary

Trevor O’Brien Partner, TaxToronto

Jeff Pickett Partner, TaxSaskatoon

Donald Hanna Executive Director, Legal, Toronto

Blaine Hertzberger Partner, AssuranceKitchener

Ryan Coupland Partner, TaxCalgary

Laney Doyle Partner, AssuranceToronto

Teresa de Lara Associate Partner, Advisory, Toronto

Mallory Wijesinghe Executive Director, LegalToronto

Heather Wright Partner, TaxLondon

Jean-François TremblayDirector, EY GlobalMontreal

George Kinsman Partner, TransactionsHalifax

Nelson Martin Partner, AssuranceQuebec City

Simon Beaulieu Partner, AdvisoryMontreal

Richard Mockett Partner, AssuranceVancouver

Maria Duarte Associate Partner, Assurance, Montreal

Elena Bowes Partner, Assurance Calgary

Linda Tang Partner, TaxToronto

Tim MacDonald Partner, TransactionsToronto

Your journey: our drive. Congrats to our new

leaders across Canada!

ey.com/ca/newleaders

A round EY

Global Chairman and CEO Jim Turley retiresIn June, Jim Turley retired as EY Global Chairman and CEO. He served in this role for 12 years during a time of huge changes for our organization, our clients and the global economy. Throughout, he led by example, and his legacy — our global integration, our focus on quality and our values — laid a strong foundation for our future success.

Jim is a familiar figure on the world stage and in the media, and he’s always been a champion of EY in Canada. During his tenure, we became more connected than ever as a global organization and enjoyed his support as we grew our business and reached new milestones in Canada. Jim has played a prominent role at numerous conferences and events, such as the World Economic Forum Annual Meeting at Davos, Switzerland, the Russia Foreign Investment Advisory Council, which he co-chaired, the Business Roundtable and International Business Leaders’ Advisory Council for the Mayor of Shanghai, and the Governing Board of the US Center for Audit Quality, which he chaired from 2007–11. In 2010, he was also appointed to the US President’s Export Council.

We wish Jim a long and happy retirement — and continued success in building a better world in everything he does.

Our SR&ED practice is now one of Canada’s largestIn another bold move to grow our private middle-market business, we brought Saskatoon-based boutique firm SRED Automation into the EY family in July. The transaction made our dedicated Scientific Research & Experimental Development (SR&ED) practice one of the largest in Canada!

“SRED Automation is a small but mighty firm — developing leading methodologies and processes that maximize results for clients, with a special focus on private companies. We’re thrilled to welcome their proven SR&ED knowledge and well-established reputation,” says Susan Bishop, Canadian leader of our SR&ED practice.

This transaction is EY’s fourth in the last two years, adding to the mergers with Hergott Duval Stack LLP in Saskatoon last year, and with RSM Richter in Toronto and Calgary and SR&ED boutique OME Group Consultants in 2011.

Retired Global Chairman and CEO Jim Turley (centre) with Canadian Chairman and CEO Trent Henry (left) and Quebec Managing Partner Sylvain Vincent in Montreal in February 2013.

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A round EY

When the Bow and Elbow Rivers overflowed their banks in June, leaving parts of Calgary and many nearby towns underwater, EY stepped up in a big way to help those affected. This disaster shed a bright light on the strength of the EY community and provided inspiring examples of how we rallied around our colleagues and communities to offer relief.

“It was so amazing to see our people spring into action and show that EY is a proud member of the community,” says Kent Kaufield, Calgary Office Managing Partner. “Our people assisted colleagues, clients, alumni and even strangers. They carried items out of homes, dug out debris, prepared food and distributed water, donated items to flood-affected communities and provided temporary accommodation for dozens of people. It truly was EY people at their best.”

We also launched an employee donation matching program across the country to match employee donations to the Red Cross.

We know that many members of our alumni family were active in helping with relief efforts. One particular story that ran in the National Post on 24 June featured EY alum Brenna Wathke.

Headlined “No waiting for the government: Calgary community makes it work, pitches in to help,” the article shares Brenna’s emotional tale of how dozens of friends, neighbours and perfect strangers just showed up in her Sunnyside community hit hard by the floods, providing food, generators and pumps. Volunteers in thick rubber boots shovelled mud or moved strips of sodden carpets through windows. Wathke was so overwhelmed that she insisted many of the helpers sign their names and leave their e-mail addresses on her basement wall.

When the waters rose,

so did our people and alumni

Calgary Office Managing Partner Kent Kaufield (bottom centre, in green gloves) and a team of EY volunteers help local residents with the massive cleanup efforts following the Calgary flooding in June.

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Your Alumni Relations teamNationalJohn Langhorne Lead Partner, Alumni Relations, Canada +1 416 943 3290 john.langhorne@ca.ey.com

Maha Zabaneh Alumni Relations Manager +1 416 943 2341 maha.zabaneh@ca.ey.com

Regional partner championsMontreal André Courville +1 514 874 4304 andre.courville@ca.ey.com

Vancouver Fiona Macfarlane +1 604 891 8282 fiona.j.macfarlane@ca.ey.com

Calgary Jaimie Dawson +1 403 206 5136 jaimie.r.dawson@ca.ey.com

St. John’s Lynn Healey +1 709 570 8266 lynn.healey@ca.ey.com

Connect with us at alumni@ca.ey.com.

A better readYou can view and download these reports and publications plus more at alumni.ey.com.

EY Capital Confidence Barometer October 2013

Our latest Capital Confidence Barometer suggests a return of deal activity after a five-year period of falling M&A globally. The fundamentals are in place to foster M&A: confidence in the global economy is at its highest in two years, cash is in abundance, and credit is readily available.

Managing Your Personal Taxes 2013-14: A Canadian Perspective

The fresh new edition of our popular and helpful annual guide offers tips, strategies and suggestions to help you understand your tax situation, reduce your income taxes, benefit from government incentives, execute tax-effective investment strategies and think about your future.

And new this year, we’ve included links to our four-part webcast focusing on tactical and strategic approaches to growing your private company.

Protecting the future: Canadian Retail Banking Survey 2013

Our first Canadian survey of retail banking customers provides insights on various topics, including the drivers behind customer satisfaction, customers’ channel preferences, how likely customers are to switch from their primary banks and why, and how Canadian financial institutions can enhance their customers’ loyalty and advocacy.

The power of three: EY G20 Entrepreneurship Barometer

The EY G20 Entrepreneurship Barometer 2013, released in August, is designed to help leading countries benchmark their progress and performance on the vital issue of entrepreneurship. The report ranked Canada among the top five countries for entrepreneurs, but found that nearly three in four Canadian entrepreneurs still struggle to access funding. Together, governments, entrepreneurs and corporations can spur growth across the G20. Find out where Canada's getting it right, and where we can improve.

Partnering for performance — the CFO perspective: at a glance

In this new Global report, we explore how business partnering between the CFO and supply chain leader can improve performance. The study is based on a survey of 423 CFOs and supply chain leaders from around the world.

Under cyber attack: EY’s Global Information Security Survey 2013

Organizations must be prepared to combat against, manage and mitigate cyber attacks that can occur anytime, anywhere. They need to place more emphasis on improving employee awareness, increasing budgets and devoting more resources to innovating security solutions.

Download the Connect app!Visit your favourite app store, search for “Ernst & Young Connect” and download the free app.

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Bridge and conquer.With good advice and long-term planning, you can take the most direct route — from here to where you want to go.

Learn how we can help your organization get there faster.

ey.com/ca