OTTAWA, May 24, 2018 /CNW/ - The Government of Canada is making investments that will help create well-paying jobs and grow the middle class now, while building a strong foundation for a sustainable economic future. As part of the Government's historic Investing in Canada infrastructure plan, the Canada Infrastructure Bank is an additional new and innovative tool that provincial, territorial, municipal, and Indigenous partners can use to build more infrastructure for their communities.
Today, the Honourable Amarjeet Sohi, Minister of Infrastructure and Communities, announced that Pierre Lavallée has been appointed as the first President and Chief Executive Officer (CEO) of the Canada Infrastructure Bank. The board of directors for the Canada Infrastructure Bank had significant involvement in the selection process and Mr. Lavallée's appointment followed an open, transparent, and merit-based selection process that attracted a range of talented and experienced candidates.
As President and CEO, Mr. Lavallée will provide overall business leadership, creating the Bank's strategy, establishing investment policies and procedures, and building and attracting a highly skilled and motivated team. He will lead partnerships with domestic and global institutional investors, engage public sector proponents, and work to develop and execute innovative infrastructure financing transactions that will have transformative impacts for Canadians across the country.
Over the last six years, Mr. Lavallée has held various roles at Canada Pension Plan Investment Board (CPPIB), most recently Senior Managing Director & Global Head of Investment Partnerships, where he led a team managing approximately $94 billion of assets. Prior to joining CPPIB, Mr. Lavallée was Executive Vice-President at Montreal-based Reitmans (Canada) Limited and a Partner with Bain & Co., where he worked for more than 18 years, including several years as Managing Partner for Canada. In addition, he has previous international trade experience working in Ottawa and Japan as a Trade Commissioner with the Department of Foreign Affairs and International Trade.
With this appointment, the Bank will continue to develop its capacity to engage with provinces, territories, municipalities, Indigenous, and private sector partners on infrastructure projects across Canada.
"I am proud to announce the appointment of Pierre Lavallée as the first President and CEO of the Canada Infrastructure Bank. Mr. Lavallée is a talented and highly qualified professional who will play a key role in setting the course and direction of the Bank as it makes investments in the transformational infrastructure projects that Canadians need. The Bank will help attract private sector investment to help public dollars go further and encourage innovation in helping communities advance their infrastructure priorities."
The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities
"With the appointment of Mr. Lavallée, I am confident the Canada Infrastructure Bank will be able to deliver on its ambitious mandate to transform the way infrastructure is funded, planned and delivered in Canada. With a focus on strategic investments that will help improve the quality of life for Canadians, the Canada Infrastructure Bank will help deliver the transformative projects our communities need – from improvements to public transit systems and trade and transportation corridors to green infrastructure projects, including those that reduce greenhouse gas emissions, deliver clean air and safe water systems, and promote renewable power."
The Honourable Bill Morneau, Minister of Finance
- The Canada Infrastructure Bank will invest $35 billion from the federal government to build more infrastructure in communities across Canada.
- As a Crown corporation, the Bank operates at arms-length from the government and works with provincial, territorial, municipal, and Indigenous partners to attract private investors to new revenue-generating infrastructure projects that are in the public interest.
SOURCE Infrastructure Canada
For further information: Brook Simpson, Press Secretary, Office of the Minister of Infrastructure and Communities, 613-219-0149, [email protected]; Infrastructure Canada, 613-960-9251, Toll free: 1-877-250-7154, [email protected]