CIB CIO John Casola to retire; new leadership structure to drive Canada’s infrastructure priorities

The Canada Infrastructure Bank (CIB) today announced organizational changes to its executive team. These changes will ensure the CIB continues to deliver infrastructure that supports impactful outcomes for Canadians.

Chief Investment Officer set to retire:  

The CIB’s Chief Investment Officer, John Casola will retire on March 31, 2026.

John Casola joined the CIB in 2019 and became the CIB’s Chief Investment Officer in January 2020. Under his leadership, the CIB grew its investment portfolio to more than 100 infrastructure investments in all provinces and territories across the country, supporting projects that deliver real benefits for Canadians. A recognized leader in the Canadian infrastructure sector for more than 20 years, John’s expertise in project finance in both the public and private sectors have been invaluable in expanding the CIB’s impact-based portfolio.

“John played an integral role in the formation and success of the CIB’s first chapter, and our organization and particularly our investments team has grown into a highly effective team under his leadership and guidance,” said Ehren Cory, CEO. “As we enter the future of infrastructure investment in Canada, we will build on that foundation while focusing on delivering national priorities.”

New Investment leadership team:

Canada’s infrastructure agenda is expanding in scale and complexity, with projects that are larger, more complicated and more interconnected. As a leading organization in financing infrastructure projects that benefit Canadians, and with an expanded mandate and increased allocation to $45 billion, the CIB’s leadership team is evolving to match the scale and complexity of this environment.

• Hillary Thatcher will become the CIB’s Executive Vice President, Indigenous Infrastructure, charged with growing this function to reflect the CIB’s increased target of $3B towards Indigenous infrastructure investments.  
• Sashen Guneratna will serve as Executive Vice President, Public Infrastructure, focused on making investments that have more stable revenue streams in partnership with private and public sector clients including Crown corporations and government-owned entities.  
• An executive search is underway for an Executive Vice President, Commercial Infrastructure, expected to lead the CIB’s expanded focus on higher-risk investments with partners in the private sector.
• To support strong deal execution, Charles Todd has been promoted to Executive Vice President, Investment Operations, leading a specialized team of experts responsible for ensuring investments meet the highest standards.

“The CIB has demonstrated progress and momentum in addressing the importance of transformative infrastructure to support industry, our economy and the needs of our communities,” said Cory. “Our new structure means we’re ready to meet this critical moment, accelerate investment and deliver meaningful outcomes for Canadians.”

The new organizational structure will take effect on Wednesday, April 1.

Established in 2017, The CIB is an impact investor developing the next generation of infrastructure Canadians need. We bring businesses, investors, Indigenous communities and governments together to help deliver outcomes like sustainable economic growth, connected communities and energy security and competitiveness. The CIB has invested more than $18B in 108 infrastructure projects, 11 of which are now complete and supporting economic growth and jobs nationwide.