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Indo-Canadian exec made CEO of Invest in Canada
The Canadian government appoints Dominic Barton and Gurinder Grewal to drive $1 trillion in investments and strengthen the economy over five years.
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The Canadian government has appointed an Indo-Canadian executive to a role critical towards achieving Prime Minister Mark Carney objective to bring in a trillion dollars in total investment into the country within the next five years.
The Prime Minister’s Office announced the appointment of former Canadian ambassador to Beijing Dominic Barton as the new chair to the Board of Directors of Invest in Canada and Gurinder Grewal as its new CEO for a five-year term.
Grewal is an investment professional with more than 25 years of experience in the energy, industrials, infrastructure, and technology sectors and the founder and managing partner of MEM Growth Partners, an independent firm focused on investing in high-growth platforms across multiple sectors.
The PMO said that Ottawa was focused on building a stronger, more resilient, more independent Canadian economy that is not reliant on any single trading partner. “Central to this mission is our ambitious plan to catalyse $1 trillion in total investment in Canada over the next five years,” it said.
“Invest in Canada is a key player in this mission–guiding investors from initial interest to shovels in the ground,” the release added. The announcement came as a trade war has erupted between Canada and the United States. Carney will host the first Canada Investment Summit in Toronto this month. Among those expected to attend the event as major Indian corporates.
Barton is chair of Rio Tinto and of LeapFrog Investments and spent more than 30 years at McKinsey and Company, including nine years as Global Managing Partner.
Grewal, the release said, “has spent his career putting capital to work in the energy, industrials, infrastructure, and technology sectors.” It added that, together, Barton and Grewal will lead Invest in Canada to catalyse billions of dollars of new investment in Canadian energy, critical minerals, artificial intelligence, and infrastructure. Their task will be to bring the world’s largest investors to Canadian projects and guide them from initial interest to reality.
“In its new, more ambitious form, Invest in Canada will take on a more prominent role–working closely with the largest foreign investors to build a stronger, more independent, more resilient Canadian economy,” the release also said. “Under their leadership, Invest in Canada will catalyse billions in new investments into Canada to build a stronger, more independent, more resilient Canadian economy for all,” Carney noted.
Grewal secured an Honours Business Administration degree from the Ivey Business School at Western University in London, Ontario, and an MBA from Harvard Business School. He has spent several years working in the United States.
