White is a graduate of the University of Western Ontario Ivey Business School and a director of the Montreal Canadiens hockey team.He takes over in a very different climate than his predecessor did in March 2007. On his first day, Downe announced 1,000 job cuts, or 3 per cent of the workforce, to rein in costs. The bank was stung that year by the biggest trading debacle in Canadian history at the time a $680 million pretax loss from bad bets on natural gas options.
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