Michael Alexander Mackenzie BA, FCA, MBA
October 18, 1926 - February 13, 2018
Died on February 13, 2018 leaving behind his lovely and much loved wife June and his children, Landon (Donald), Annabel (Douglas), Hugh (Paula) and D’Arcy (deceased) (Leslie), his grandchildren Cluny, Meghan, Jeffryn, Georgia, Michael, Blair, Madeline, Molly and Isobel, his brother, Hugh, his sister, Landon, his stepdaughters Cheryll (Carol) and Pamela, their daughters Allison, Jennifer and Julie and numerous nieces and nephews.
His first marriage to Sheila Higgins ended in divorce and his second marriage to Marnie Laidlaw ended with her death in 1982.
Michael was born in Toronto on October 18, 1926 to Hugh Alexander and Alice (Sawtelle) Mackenzie. He grew up in London, Ontario and was educated at Lakefield Preparatory School and London South Collegiate Institute. Following his high school he tutored for a year at Pickering College before attending the University of Toronto (Trinity College) graduating with BA in Honours History in 1948. In 1953 he became a CA after studying at Clarkson Gordon then on to the Harvard Business School as a Baker Scholar earning an MBA with distinction in 1955. Michael was named a Fellow of the Institute of Chartered Accountants in 1965.
Most of Michael’s distinguished professional career was spent with Clarkson Gordon (now Ernst & Young) in Toronto and Montreal. His unusual competence led to his appointment as the first federal Superintendent of Financial Institutions in 1987, a position he occupied with skill and intelligence until 1994. The regulatory approaches taken under his direction have lasted serving the country well in the financial market turmoil following 2008.
After retirement he took up a number of positions: executive in residence at the Schulich School of Business at York University; consultant to the World Bank in the area of financial supervision; co-founder of the Toronto International Centre for Financial Sector Supervision which continues to provide leadership training programs for public sector individuals from countries all around the world. He was also a member of the board of ING Canada, the country’s largest property and casualty insurance company and a member of the Actuarial Standards Council. Michael’s other interests were broad, notably public affairs, the arts and health care. He was a member of the board of the Canadian Institute on Public Affairs, active on the board of the Art Gallery of Ontario as well as a trustee of the Montreal Museum of Fine Arts. In 1984 he became president of the Palliative Care Foundation, served on the boards of Cancer Care Ontario and the Princess Margaret Hospital.
When Michael and June moved to Cobourg after Michael’s retirement they both became very active in the community, greatly appreciated by all. Before he died Michael said that he had been blessed with more than his fair share of good luck enabling him to lead a rich a rewarding life.
A celebration of Michael’s life will be held on Saturday, February 24th at 2:00 pm in Victoria Hall in Cobourg. Doors will be open at 1:00pm.
In lieu of flowers, donations gratefully accepted to Northumberland Hills Hospital. Condolences received at www.MacCoubrey.com.
Celebration of Life
Saturday, February 24 at 2 p.m. Doors will be open at 1 p.m.
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