The Government of Canada sets the overall policy direction and high-level investment priorities of the CIB. We work cooperatively with all levels of government, private investors and project sponsors to identify potential investments and make independent commercial decisions.
The Canada Infrastructure Bank is accountable to Parliament through the Minister of Infrastructure and Communities. For more information, see the Infrastructure Canada website and The Canada Infrastructure Bank Act.
The Minister of Infrastructure and Communities Statement of Priorities and Accountabilities (SPA) to the Board and Chair of Canada Infrastructure Bank.
Board of Directors
As a Crown corporation, we operate at arm’s length from the government. We are governed by an independent, professional Board of Directors, which assumes responsibility for the stewardship and supervises our direction and management.
The Board Code of Conduct and Conflict of Interest for Directors Policy aim to foster a climate of honesty, truthfulness and integrity in all Board activities. The Board of Directors has adopted the Statement of Corporate Governance Policies and Practices to communicate its corporate governance practices.
Tamara Vrooman is a transformational leader with a strong financial background who understands the intrinsic link between a strong and sustainable economy and a healthy community.
Ms. Vrooman was appointed Chairperson of the Canada Infrastructure Bank (CIB) in January 2021. In addition to her role as the Chairperson of the CIB, Tamara is also currently CEO of the Vancouver Airport Authority (YVR), Canada’s second busiest airport. Prior to this, Ms. Vrooman was President & CEO of Vancity, Canada’s largest community credit union, and Deputy Minister of Finance for the Province of British Columbia and Secretary to the Treasury Board and CEO of the Public Sector Employers’ Council.
As President & CEO of Vancouver Airport Authority, a world-class hub with local roots, Ms. Vrooman understands the value of having an airport that is both an economic generator and community contributor—a hub of innovation that gives back, supports the region, and sets the bar for sustainability.
Ms. Vrooman served 13 years as the President & CEO of Vancity, Canada’s largest community credit union with $28 billion in assets in administration, including corporate and commercial financing divisions. She assumed leadership of Vancity at the beginning of the global financial crisis and transformed the business and service model, delivering record profitability and doubling its assets. During her tenure, Vancity became a global reference point, and she became a leading voice in the Canadian and international financial sectors.
Prior to joining Vancity, Tamara served as Deputy Minister of Finance for the Province of British Columbia and as Secretary to the Treasury Board and CEO of the Public Sector Employers’ Council where she oversaw the government’s annual $100 billion borrowing and cash requirements, led the Ministry of Finance to three AAA credit rating upgrades, and developed its $36 billion fiscal plan and the province’s first P3 Capital Project. Tamara also served as Deputy Minister and Executive Financial Officer for the Ministry of Health, which, under her leadership, achieved its first balanced budget in 16 years.
Her expertise has been sought by organizations, leaders, and governments at all levels, regional, provincial, national and international, whether regarding the economy, social change, or environmental sustainability, and often at the intersection of all three. In 2018/19, Tamara served as co-chair of the Government of Canada’s Advisory Council on Climate Action. Most recently, Tamara was appointed Simon Fraser University’s 12th Chancellor.
Kim Baird is an accomplished leader advising Indigenous communities, governments, businesses and other organizations on Indigenous matters. She is the Chancellor for Kwantlen Polytechnic University and is the owner of Kim Baird Strategic Consulting. Her continued goal is to improve the quality of life for Indigenous people through her services in relation to First Nation policy, governance, and economic development; as well as First Nation consultation, communication, and engagement issues. Kim also helps with reconciliation planning for companies and organizations. Kim is recognized for her communication, negotiation, and facilitation skills, and has extensive public speaking experience. She is on several boards including Canada Infrastructure Bank and the Greater Vancouver Board of Trade, Kim is a member of both the Order of British Columbia and the Order of Canada, is an Indspire Laureate and holds an Institute of Corporate Director’s designation.
Mr. Bernstein is a seasoned senior executive with extensive experience in the Canadian power, infrastructure and utilities sector, including the negotiation and structuring of complex infrastructure investments and projects.
Mr. Bernstein is currently a Senior Advisor with the Boston Consulting Group and President of Juno Advisors Ltd., a consulting firm focused on strategic advisory and investment opportunities. He is the former President and Chief Executive Officer of Capstone Infrastructure Corporation, responsible for the company’s overall management of power infrastructure and utilities businesses in Canada and internationally. Prior to this, Mr. Bernstein was President of Macquarie Infrastructure and Real Assets Canada Ltd., a Senior Managing Director of Macquarie Group Limited and Macquarie Capital Markets Canada, as well as a senior executive with CIBC World Markets Power and Utilities investment banking group.
Mr. Bernstein holds a Bachelor of Arts in Economics and Philosophy from Dartmouth College and an MBA from Ivey Business School at Western University. He also holds Chartered Financial Analyst and ICD.D designations, and has served on various boards of directors throughout his career, including as a current director of the Independent Electricity System Operator of Ontario.
Ms. Bird is a Senior Business Advisor with the Vancouver office of Bennett Jones LLP, a large Canadian law firm where she provides advice to private and public sector clients on matters related to the development and execution of infrastructure projects.
Ms. Bird has been directly involved with large projects for more than 20 years, including the development and construction of the Canada Line rapid transit project in Vancouver, the construction of the Waneta hydroelectric generating station in southeastern BC and the redevelopment of Canada House in London, U.K. Ms. Bird serves on the boards of several Canadian companies.
Ms. Bird has received several awards; Canada’s Most Powerful Women: Top 100 Award and the Vancouver Board of Trade Sprit of Vancouver Outstanding Leadership Award. Most recently, Ms. Bird received the 2017 National Outstanding Leader Award from the Women’s Infrastructure Network.
Ms. Bird holds a Bachelor of Laws degree from Dalhousie University and an ICD.D designation from the Institute of Corporate Directors.
Mr. Bronconnier is the President and Chief Executive Officer of Interloq Capital Inc. and former Mayor of Calgary, where he served three consecutive terms between 2001 and 2010. Following his third term as Mayor, Mr. Bronconnier was appointed Alberta Envoy to the United States where he served between 2011 and 2012.
Over the course of his career Mr. Bronconnier has been awarded the Queen’s Diamond Jubilee Medal, the Golden Jubilee Medal and the World Leadership Award for Environmental Excellence from the World Leadership Forum in London, UK. He was also made a Paul Harris Fellow by Rotary International and was twice-awarded the Distinguished Service Medal from the Canadian Military.
Ms. Colpron currently serves on the board of directors of the Québecor inc. (including Québecor Média inc. and Vidéotron ltée), and previously served on the boards of Fonds de solidarité FTQ and Investment Industry Regulatory Organization of Canada (IIROC) until 2022.
Prior to these appointments, Ms. Colpron served 12 years with the Caisse de dépôt et placement du Québec in the roles of Senior Vice-President of Financial Management, Vice-President of Investment Administration, and Vice-President of Finance and Administration – Private Equity. She has also held senior positions in overseas banks, serving as Chief Financial Officer of both Merrill Lynch Bank (Suisse) S. A. and Standard Chartered Bank (Switzerland) S. A.
In 2016, Ms. Colpron was named Fellow of the Order of Chartered Professional Accountants of Quebec (FCPA, FCA). She is also a qualified corporate director duly accredited by Laval University. She holds a Bachelor of Business Administration from HEC Montréal.
Bruno Guilmette is Vice President and Chief Financial Officer at Boralex Inc. where he is responsible for Finance and Accounting, Taxation, Investor Relations, and Risk Management and Internal Controls.
From December 2017 until June 2018, he served as interim Chief Investment Officer of Canada Infrastructure Bank, where he established the organization’s initial investment and advisory capabilities, policies, and processes.
Mr. Guilmette previously served on the Executive Committee and Board of the Global Infrastructure Investor Association and as the Senior Vice-President of Infrastructure at PSP Investments. Prior to his appointment with PSP Investments, Mr. Guilmette served as the Senior Director of Investments/Infrastructure, Services and Distribution at the Caisse de dépôt et placement du Québec. He has also served on the boards of other organizations, including AviAlliance, Isolux Infrastructure, Transelec and Southern Star.
Mr. Guilmette holds a Bachelor of Commerce from HEC Montréal, along with a Master of Business Administration from McGill University and an ICD.D designation from the Institute of Corporate Directors. Mr. Guilmette is also a Chartered Professional Accountant (CPA, CA) and holds the Chartered Financial Analyst designation.
Ms. Méthot has over 25 years of experience in venture capital, engineering and corporate governance, and is a recognized leader in the green and sustainable investment field. She is the founder and Managing Partner of Cycle Capital, a leading investment and innovation platform focused on impact investment, clean technology and sustainable development.
Ms. Méthot is a member of the Paris Fonds Vert Advisory Board, the Government of Canada’s Task Force on Women in the Economy, and an ambassador in clean technologies for Investissement Québec. She is also a former board member of Sustainable Development Technology Canada and the Société québécoise des infrastructures.
Ms. Méthot was named Officière de l’Ordre national du Québec in 2018 and received the 2019 Grand Prix d’excellence from the Ordre des ingénieurs du Québec. She has been honoured by the Association of Québec Women in Finance and recognized as one of Canada’s most influential women in the sustainable development and clean technology industry by Corporate Knights. Ms. Méthot holds a Master’s degree in Science from Université de Montréal and a Bachelor’s degree in Geological Engineering from Université Laval.
Ms. Puri is a Professor of Business Law, Governance & Strategy at Osgoode Hall Law School and a Corporate/Securities Lawyer at Davies Ward Phillips & Vineberg LLP. She is an experienced public company director, serving on the boards of CAPREIT, Propel Holdings and Augusta Gold. Ms. Puri also currently serves as Vice Chair of the Board of Trustees of Holland Bloorview Kids Rehabilitation Hospital in Toronto, and she recently completed a nine-year term on the board of directors of the Greater Toronto Airports Authority (GTAA).
In 2021, Ms. Puri was awarded the Royal Society of Canada’s Yvan Allaire Medal for outstanding contributions to the governance of public and private institutions in Canada, in addition to receiving the Law Society Medal and the David Walter Mundell Medal for outstanding contributions to law and letters. Previously, Ms. Puri has been recognized as one of the top 25 most influential lawyers in Canada, one of the 100 Most Powerful Women in Canada, and as one of Canada’s Top 40 under 40 leaders.
Ms. Puri earned her Bachelor of Laws degree from the University of Toronto, and she holds a Master of Laws degree from Harvard Law School. She has an ICD.D designation from the Institute of Corporate Directors.
Mr. Smith is the Co-Founder, Chair, and Chief Executive Officer of First National Financial LP. He also serves as Chair of the Canada Guaranty Mortgage Insurance Company and as a board member of various organizations, including Empire Life Insurance Company and the C.D. Howe Institute. He is a member of the Business Council of Canada.
Mr. Smith also served for ten years as a board member of Metrolinx Inc./GO Transit, both as Vice-Chairman and as Chair of the Audit and Finance Committee.
Mr. Smith holds a Bachelor’s degree in Electrical Engineering from Queen’s University and a Master of Economic Science, with a specialization in the Economics of Industry, from the London School of Economics and Political Science.
Ms. Youzwa is the current Chair of the Alternative Funds Advisory Committee for TD Asset Management and a National Director of the Institute of Corporate Directors.
Ms. Youzwa is the former President and CEO of Saskatchewan Power Corporation. She has also served as Deputy Minister of Economic Development and as Deputy Minister of Energy and Mines for the Government of Saskatchewan.
Ms. Youzwa has served on numerous boards and has held policy advisory roles with such organizations as the Canada West Foundation, Canadian Electricity Association, the Energy Council of Canada, the Conference Board of Canada, the Canada Alberta ecoEnergy Task Force on Carbon Capture and Storage, the Minister’s Advisory Council on Energy Science and Technology and the Canadian Standards Association.
Ms. Youzwa holds a Bachelor of Arts in Economics from the University of Saskatchewan and a Master of Arts in Economics from the University of Toronto. In 2012, she was awarded the Queen’s Diamond Jubilee Medal and, in 2011, received the Lieutenant Governor’s Gold Medal for Excellence in Public Administration.
In addition to overseeing day-to-day operations, the Executive Team plans and executes the business strategy as outlined in the Corporate Plan.
Employees are required to abide by CIB’s Code of Conduct. The Code is an important source of guidance and serves as the foundation for how we do business.
Ehren Cory is the CEO of the Canada Infrastructure Bank (CIB), an impact investor that develops the next generation of infrastructure Canadians need. He is a recognized leader in sustainable finance and infrastructure investing in Canada.
Ehren joined the Canada Infrastructure Bank in 2020, bringing his strong leadership approach, infrastructure expertise, and a track record of delivering results by partnering with the private and public sectors. He is focused on the CIB’s strategic direction including implementing the $10B Growth Plan to accelerate infrastructure investment in Canada and building the CIB as a results-oriented organization.
Prior to joining the CIB in November 2020, Ehren was the president and CEO of Infrastructure Ontario, a provincial Crown Agency responsible for financing, building, and enhancing the value of the province’s infrastructure and real estate assets. He became CEO in 2017 after spending four years with the Agency in executive roles responsible for the successful transaction structuring, tendering, and delivery of billions of dollars in infrastructure projects.
Between 2001 and 2012, Ehren was a partner at McKinsey & Company in Toronto, where he served as a leader in the Public Sector and Capital Projects practices, advising clients in both the private and public sectors.
Ehren is involved in a number of Canadian and international organizations tackling sustainability in relation to finance and the development of infrastructure, including the Sustainable Finance Institute at Queen’s University and the Toronto Region Board of Trade Financial Innovation committee. He also serves on the Board of the Canadian Council for Public-Private Partnerships.
Ehren is a graduate of the MBA program at INSEAD in Fontainebleau France, where he graduated with distinction. He also received an Honours degree in Business Administration (HBA) from the University of Western Ontario.
John Casola leads the Investments team and is responsible for implementing the Canada Infrastructure Bank’s investment and advisory strategies, including transaction advice to public sponsors, transaction structuring, capital deployment and asset management. John and his team members actively work with public sponsors across Canada at all levels of government to develop project priorities and build opportunities for partnerships with private and institutional investors.
John is a recognized leader in the Canadian infrastructure sector and has more than 20 years of experience in lending to, and structuring and advising on project finance and public private partnership transactions across a variety of infrastructure asset classes. He has extensive experience advising both public and private sector organizations active in the infrastructure sector and was instrumental in advising on many “first of kind” PPP projects in Canada. John started his career practicing law at a major Canadian law firm (Torys LLP), and his previous experience includes being Managing Partner of PwC’s Infrastructure and Government Services team in Canada and founding and managing Investec Bank’s Project and Infrastructure Finance presence in North America.
John holds a BA in Political Science from Carleton University and a Bachelor of Laws from the University of Windsor. He has also completed Executive Development programs at Harvard University and at the Kellogg School of Management, Northwestern University.
As the Chief Financial Officer (CFO), Evelyn Joerg oversees the CIB’s financial activities, including risk, asset management, finance and IT. Previously, she was the Head of Asset Management, where she was responsible for managing the growing portfolio of the CIB’s investments.
Before joining the CIB, Evelyn was a Vice President at Brookfield Asset Management, focused on the portfolio management of infrastructure assets in North America. Over her 15 years of experience, she held progressively senior roles at Brookfield Asset Management and PricewaterhouseCoopers.
Evelyn has served on several boards and commitees for both private and not-for-profit organizations, including Nova Transportadora do Sudeste, Arteris S.A, as well as the Brazil Canada Chamber of Commerce. She also serves as a mentor as part of the Women’s Infrastructure Network.
Evelyn holds a Bachelor of Commerce Honours degree from Queen’s University, is a Chartered Professional Accountant and a CFA charterholder.
Hillary Marshall brings senior management expertise and nationally recognized experience to lead the Communications and Public Affairs team. Her responsibilities include executing our strategic communications action plan and enhancing stakeholder relations with the public and private sectors.
An industry veteran with more than 25 years of experience in public affairs and communications, Hillary has held progressively senior roles in some of Canada’s best-known corporations, including Nortel, Hudson’s Bay Company and the Toronto Stock Exchange. During her time at public affairs firms, Hillary provided strategic counsel to management teams of numerous North American corporations and government agencies. Most recently, Hillary held the position of Vice President of Stakeholder Relations and Communications at the Greater Toronto Airport Authority (GTAA).
Hillary sat on Destination Toronto’s Board of Directors, is the Chair of the Toronto Region Board of Trade’s Talent Ecosystem Committee, is Vice Chair of the Policy and Advocacy Committee, and is past Vice Chair of the Management Advisory Committee of the Urban Land Institute of Toronto.
She holds a BA in Japanese and Political Science from the University of Toronto, a post-graduate diploma in Public Relations from the University of Stirling, Scotland and a Corporate Director Certificate from the Rotman School of Management.
Steven Robins has been the Head of Strategy at the Canada Infrastructure Bank (“CIB”) since December 2020. In this capacity, Steven leads the strategy team and is responsible for impact measurement, our Investment Framework, our overall portfolio strategy and the identification of new opportunities to achieve the CIB’s priority outcomes.
Before joining the CIB, Steven was the Commercial Program Director for the Ontario Subway expansion at Infrastructure Ontario, where he stood up the commercial team to structure and deliver four planned subway extensions in Toronto and led the team to commence procurements on-schedule.
Prior to joining Infrastructure Ontario, Steven was an Engagement Manager at McKinsey & Company in Toronto, where he led client engagements for electric and gas utilities, and infrastructure clients on energy transition strategy and capital program delivery.
Steven also holds an MBA and a Masters in Public Policy from Harvard University, where he graduated as a Baker Scholar. He also received an Honours Degree in Business Administration from the University of Western Ontario.
Frédéric Duguay became the first General Counsel & Corporate Secretary at the Canada Infrastructure Bank (“CIB”) in November 2018. In this capacity, Frédéric is responsible for leading the legal affairs, the corporate secretariat, as well as the compliance functions and regulatory activities of the CIB, including the implementation of legal and governance structures for investment transactions and responses to access to information requests.
Before joining the CIB, Frédéric was a Partner with Hansell LLP, where his legal practice focused on advising boards of directors, shareholders and management teams on matters involving special situations, crisis management, stakeholder relations, board effectiveness and the development of governance policies and practices. Frédéric also held progressively more senior positions with the Ontario Securities Commission.
Frédéric is a member of the Law Society of Ontario and is a graduate of the University of Ottawa.
Our strong team of experts are critical to helping deliver our investment, advisory and research priorities. Our Investment Leaders are focused on delivering results by leveraging their significant experience. We strive to be a great partner, collaborate with Indigenous Peoples, work across our priority sectors in all regions of the country, in both official languages.
Sashen Guneratna is a Managing Director within the investments group and assists the Executive Team with implementing Canada Infrastructure Bank’s (“CIB”) investment strategy.
Sashen has more than 20 years of banking and advisory experience encompassing several sectors and jurisdictions. Most recently, Sashen was a Partner within the Capital Projects and Infrastructure group at PricewaterhouseCoopers LLP with a focus on Water and Wastewater, First Nations led projects, Power and Utilities. Prior to joining PricewaterhouseCoopers LLP in 2013, Sashen worked for National Bank Financial as a Financial Advisor and Underwriter of project finance transactions.
Sashen holds an MBA and BBA from the Schulich School of Business.
Carl Landry is a Managing Director with the Canada Infrastructure Bank and leads the Calgary office where he focuses on low carbon investments in carbon capture utilization and storage, hydrogen and low carbon fuels across Canada.
Carl has almost 20 years of investment experience, including as a partner at a large Canadian private equity firm focused on energy transition and upstream oil and gas investing where he was responsible for opportunity origination, structuring, risk management and governance.
Carl has over a decade of leadership experience as a board director at both for-profit and not-for-profit organizations.
Carl holds a Bachelor of Commerce degree from the University of Alberta, is a CFA Charterholder and a is a member of the Institute of Corporate Directors.
Jodie Parmar is the Head of Project Development for Western Canada – leading the CIB’s engagement with both public and private project sponsors in the West across all investment sectors. Jodie is also the National Lead for Agricultural Infrastructure whereby he leads CIB’s investment activities in agriculture and agrifood. In his role, Jodie offers advice and makes investments consistent with the CIB’s focus on new infrastructure in key priority initiatives.
Jodie has almost 30 years of experience in lending to, structuring and advising on project finance and public-private partnership transactions across a variety of infrastructure asset classes.
He holds an MBA from the University of Toronto’s Rotman School of Management and a BA in Economics from the University of Regina. He also holds a Certificate (Honours) in Business Intelligence – Data Analysis & Reporting from SAIT Polytechnic in Calgary. Jodie is a CPA, CMA, and has also completed executive development programs at institutions such as the Harvard Business School and Queen’s University.
Philippe Raymond has over 30 years of experience in enabling public and private infrastructure projects – from project financing to procurement and strategic planning. In his role at the CIB, Philippe leads project engagement and opportunities across all priority sectors in Quebec and Atlantic Canada.
He has worked on diverse infrastructure projects across the country, including transit, rail, ports, highways and bridges, education, health, public buildings, water, and energy.
Philippe is a Professional Engineer and graduated in civil engineering at École Polytechnique in Montréal. He holds an MBA in Strategic Management at the University of British Columbia and is a CFA Charterholder (Chartered Financial Analyst).
Divya Shah is a Managing Director with the Investments team at the CIB. In her role, Divya is responsible for leading a team on CIB’s Public Building Retrofits Initiative and advising, sourcing, evaluating, developing and executing infrastructure investment opportunities in the Trade and Transportation Sector across Canada.
Divya has over 15 years of experience in project financing and developing public infrastructure projects through various roles at the Canada Infrastructure Bank (CIB), Infrastructure Ontario (IO) and Manulife Financial. Before joining the CIB, Divya was SVP of Transaction Finance at Infrastructure Ontario, where she structured and negotiated a variety of large and complex P3, commercial and real estate transactions.
Divya is a Steering Committee member for the Women’s Infrastructure Network, Toronto Chapter. She is a CFA who also earned a Master of Business Administration from the University of Toronto. Divya was named as one of the 2020 inductees to the Urban Land Institute’s Women’s Leadership Initiative Champions Team.
Hillary Thatcher is Managing Director, Investments. Hillary leads the CIB’s Indigenous relationships and opportunities to engage with Indigenous communities. She is part of the team offering advice and making investments consistent in CIB’s priority initiatives.
Previously Director General of Innovation and Services at Indigenous Services Canada, Hillary spent 15 years with the Ontario government in senior roles across Indigenous Affairs, Energy and Infrastructure and Natural Resources. Hillary has a proven track record of building linkages among government, industry and Indigenous interests.
Hillary is Métis and has been an active member of the urban Indigenous community of Toronto through her volunteer roles at the Native Canadian Centre of Toronto, Red Sky Performance and the Downie Wenjak Fund.
Hillary graduated from Concordia University in Montreal and the University of Victoria.
Charles joined the CIB’s Investments team in 2019. As a Managing Director, Charles is responsible for leading the CIB’s investments in Transit, including the $3 billion pan-Canadian Zero-Emission Buses initiative. Charles also led the CIB’s historic $466 million investment in Alberta irrigation infrastructure to financial close.
Charles brings significant commercial and legal experience to the CIB, having worked on numerous large infrastructure projects and investments across Canada. Before joining the CIB, Charles was a senior lawyer and Commercial Director at Aecon Group Inc. where he supported Aecon’s most complex pursuits and projects. Charles was also Contracts Director for Crosslinx Transit Solutions, the consortium delivering the $5.3 billion Eglinton Crosstown LRT, where he led the team responsible for all contractual aspects of the project. Charles started his career practicing corporate and commercial law at a major Canadian law firm.
Charles holds a J.D. from the University of Toronto and a B.A. in economics from the University of Waterloo.
Jonathan is a Managing Director, Investments, and focusses on both the broadband and ‘high emitter’ sectors nationwide. He leads the CIB’s Montreal office and represents the Bank in its efforts within the province of Québec.
Jonathan has been part of the Canadian infrastructure financing landscape since 2008 including nine years with Casgrain & Company, a Canadian fixed income investment dealer where he participated in numerous infrastructure related financings and launched the firm’s efforts in the space. During his time there, he authored a monthly project finance newsletter that reached equity partners, government sponsors, financial advisors and bond investors in more than 150 firms. He followed this by joining the infrastructure financing team of Caisse de dépôt et placement du Québec (“CDPQ”) as a Senior Director, originating and structuring investment opportunities across the globe that often fell outside the scope of traditional financing.
Jonathan holds an MSc. Finance from Concordia University and is a Chartered Financial Analyst (CFA) charterholder.