Fifteen months after it was announced in the Canadian budget, the Canada Infrastructure Bank will have its first chief. The Trudeau government on May 24 named Pierre Lavallée as president and CEO of the Toronto entity, which is set to leverage $27 billion in government funds to gain multiples of that in outside private capital for infrastructure projects.
Set to start on June 18, Lavallée was senior managing director and global head of investment partnerships at the Canada Pension Plan Investment Board (CPPIB), the country’s largest pension fund, with about $275 billion in managed assets.