David Peterson - After Politics

After Politics

David Peterson was the founding chairman of the Toronto Raptors of the National Basketball Association, and was a member of Toronto's Olympics Bid Committee. Since leaving politics, he has been a professor at York University in Toronto, a senior partner and chairman of the Toronto law firm Cassels, Brock & Blackwell, and has been director or member of several charitable, cultural, and environmental organizations. He is or has been a member on several corporate boards, being particularly associated with the Rogers family of businesses. In his legal practice he provides international advice to a wide range of clients about public policy issues and government affairs in Canada.

In 1999, Peterson found himself at the centre of controversy due to his membership on the board of YBM Magnex, a firm which was discovered to have links to the Russian mafia. Peterson maintained that he was unaware of illegal activities at the company, and referred to the accusations against him as "guilt by association". A subsequent investigation by the Ontario Securities Commission found that Peterson's actions met "the legal test of due diligence", but expressed disappointment that he had not shown more leadership on the board. A 2004 report from the Globe and Mail newspaper notes that Peterson was chastened by this experience, and has become "a cautious and more conscientious director" since this time.

Since 2003, Peterson has been contracted by the federal government to be its chief negotiator in talks with the government of the Northwest Territories and aboriginal leaders to transfer federal powers over lands and resources. Mr. Peterson noted this as an opportunity to play again a part in nation-building.

Peterson has continued to organize and fund-raise for the federal and Ontario provincial Liberals. In May 2005, he played the central role in persuading Belinda Stronach, a federal Conservative MP, to cross the floor to the ruling Liberal Party, days before a crucial confidence motion on the federal budget of Paul Martin's Liberal minority government. The defection proved critical to the survival of Martin's government, with the final outcome of the budget vote 153–152 in favour of the government.

After Martin resigned the party leadership in the wake of the Liberal defeat in the 2006 election, Peterson planned to support former New Brunswick Premier Frank McKenna who chose ultimately not to run. Peterson then backed Michael Ignatieff, criticizing former political opponent Bob Rae's entry into the race due to the latter's record as provincial premier. Peterson insisted he did not hold a personal grudge against Rae.

Peterson served as Chancellor of the University of Toronto for two terms from July 1, 2006 until June 30, 2012.

In 2009, he became a member of the Order of Ontario.