Vancity CEO Christine Bergeron to chair InBC's 9-member board of directors
$500 million in taxpayer funds are in the hands of these people.
InBC Investment Corp, the BC government’s new crown agency and $500 million strategic investment fund, today announced its nine-member board of directors. Christine Bergeron, president and chief executive officer of Vancity, will serve as the organization’s board chair.
Here is the full list of the nine-member board of directors:
Christine Bergeron, president and CEO of Vancity
Kevin Campbell, managing director of investment banking, board of directors of Haywood Securities
Ingrid Leong, VP finance for JH Investments and chief investment officer of Houssian Foundation
Glen Lougheed, serial tech entrepreneur and angel investor
Suzanne Trottier, vice-president of Indigenous trust services, First Nations Bank Trust
Carole James, former minister of finance and deputy premier, Government of British Columbia
Iglika Ivanova, senior economist, public interest researcher, BC Office of the Canadian Centre for Policy Alternatives
Bobbi Plecas, deputy minister, BC’s Ministry of Jobs, Economic Recovery and Innovation
Heather Wood, deputy minister, BC’s Ministry of Finance
On April 27, 2021, BC jobs and innovation minister Ravi Kahlon introduced legislation to provide the governance framework for InBC. With today’s announcement, the government has checked off one of four major milestones on the roadmap they previously shared for launching the organization.
Now that the board is appointed, priorities for Bergeron and co. include the hiring of the Chief Executive Officer, Chief Investment Officer, and other employees; the development of a Mandate Letter the crown agency and Investment Policy Statement; and attempting to be fully operational and ready to invest by fall 2021.
InBC’s legislation allows for the Board to appoint an Advisory Forum, which can provide non-binding advice. The Forum may have up to 12 members, with half the members appointed by the Board, half appointed by Cabinet.
InBC was initially announced last year on September 17, 2020 as part of StrongerBC, the province’s economic recovery plan. The province says InBC will have a “triple bottom line” investment mandate, aiming to establish B.C. as a globally competitive low-carbon jurisdiction; promote values that make life better for people in B.C., including job creation, advancing reconciliation with Indigenous peoples, promoting diversity and inclusion; and achieve a financial return on investment.
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