PM Carney appoints Dominic Barton as Invest in Canada board chair

Prime Minister Mark Carney has overhauled the leadership of Invest in Canada, the federal agency tasked with attracting foreign investment, just weeks before a high-profile investment summit in Toronto.

Carney announced Monday, August 31 that Dominic Barton, the former Canadian ambassador to China, will chair the board of directors. Barton, a well-known figure in corporate Canada, spent much of his career at the consulting firm McKinsey and Co. and currently chairs mining giant Rio Tinto and LeapFrog Investments. In 2016, he chaired the Liberal government's economic advisory council under Prime Minister Justin Trudeau, which recommended creating Invest in Canada itself. During his time as ambassador between 2019 and 2021, Barton navigated a turbulent diplomatic period and helped secure the release of Canadians Michael Kovrig and Michael Spavor, who were detained in China.

Barton will serve a three-year term on a part-time basis. Outgoing chair Karl Tabbakh will remain on the board to support the transition.

Gurinder Grewal, founder and managing partner of MEM Growth Partners, becomes chief executive officer of Invest in Canada, replacing Laurel Broten. Broten, a former Ontario cabinet minister under Premier Dalton McGuinty, is stepping down after nearly four years in what is typically a five-year role. Minister Dominic LeBlanc announced her resignation would take effect September 1, but no explanation was given for her early departure. Carney praised Tabbakh for his service but did not mention Broten in his statement.

Carney said Barton and Grewal have the expertise to help Canada capitalize on its strengths. "Under their leadership, Invest in Canada will catalyze billions in new investments into Canada to build a stronger, more independent, more resilient Canadian economy for all," he said. The leadership shakeup comes two weeks before Carney's inaugural investment summit in Toronto, where he will assemble foreign investors and major domestic fund heads to pitch Canadian projects. A source familiar with summit planning said Invest in Canada's contributions have been largely limited to a few staff members pulled into logistics, with the Prime Minister's Office and other government departments spearheading the event.