InBC Investment Corp. now has a full board of directors with backgrounds in finance, economics, impact investing and business to provide strategic guidance and accountability for the new Crown corporation.
InBC will support startups, help promising companies scale up and work with a “triple bottom line” mandate that considers people, the planet and profits, to position British Columbia as a front-runner in the post-pandemic economy.
“Since we announced InBC last week, there has been tremendous excitement about InBC’s ability to create a more innovative, sustainable and inclusive economic recovery,” said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. “I am excited about the new board of directors for InBC. Each person contributes expertise, years of experience and credibility to this bold new strategic investment fund. We can count on these skilled individuals to ensure InBC accomplishes its goals of growing innovation, attracting investment and creating family-supporting jobs.”
Christine Bergeron, president and chief executive officer of Vancity, will serve as the new board chair of InBC Investment Corp. The nine-member board of directors is made up of both public and private sector members who are responsible for oversight of the corporation, including its mission, policies and goals.
“I am looking forward to helping British Columbia’s economy emerge from the pandemic with momentum that carries us toward long-term growth,” said Bergeron. “InBC is the right solution to ensure high potential B.C. businesses get the capital required to grow and create jobs, while moving our province forward on important issues like tackling climate change.”
The InBC board members were selected through a comprehensive process, guided by the principles of the Crown Agencies and Board Resourcing Office. Candidates with a variety of relevant backgrounds were considered to form a strong board consisting of seven women and two men. The members appointed represent diversity as well as appropriate areas of expertise.
The following people were selected as members on the board of directors:
- Christine Bergeron, president and CEO, Vancity
- Kevin Campbell, managing director of investment banking, board of directors, Haywood Securities
- Ingrid Leong, VP finance for JH Investments and chief investment officer, 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, B.C.’s Ministry of Jobs, Economic Recovery and Innovation
- Heather Wood, deputy minister, B.C.’s Ministry of Finance
Legislation to provide the governance framework for InBC was introduced by the legislative assembly on April 27, 2021.
InBC investments will target small and medium-sized businesses with the growth potential and ability to anchor talent, jobs, intellectual property and innovation at home in B.C.
The fund is a major initiative under StrongerBC: BC's Economic Recovery Plan and Budget 2021. InBC will embrace an approach to economic growth that is innovative, sustainable and inclusive.
To find out more about InBC Investment Corp., visit: https://www.inbcinvestment.ca/
Individuals interested in serving on a provincial board can apply through the Crown Agencies and Board Resourcing Office: https://www2.gov.bc.ca/gov/content/governments/organizational-structure/ministries-organizations/central-government-agencies/crown-agencies-and-board-resourcing-office
StrongerBC: BC’s Economic Recovery Plan: https://strongerbc.gov.bc.ca/
For more information on the InBC legislation, visit: https://workingforyou.gov.bc.ca/legislation
For translations, visit: http://news.gov.bc.ca/releases/2021JERI0032-000854#translations