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Metrolinx chief executive to join Canada infra bank team

Bruce McCuaig, who previously served as the deputy transportation minister for Ontario, will take on the role of executive advisor in Canada’s Privy Council Office.

Metrolinx chief executive Bruce McCuaig will leave the organisation later this month to assume a role supporting the launch of the proposed Canada Infrastructure Bank.

McCuaig, who will serve as an executive advisor in Canada’s Privy Council Office, told Infrastructure Investor he believes the bank’s creation presents an “opportunity to think about how we can build the kind of foundational infrastructure that is going to support Canada, its economy and the various communities across this nation”.

Canada’s finance ministry has proposed earmarking C$35 billion ($26.1 billion; €24.5 billion) for the bank, which will provide funding to large infrastructure projects while looking to draw in private sector capital. Jim Leech, the former chief executive of the Ontario Teachers’ Pension Plan, is leading the effort to launch the programme.

McCuaig, previously a deputy minister in the Ontario Ministry of Transportation, joined Metrolinx in 2010. His new role, McCuaig said, will allow him to expand his focus beyond transportation and beyond the province of Ontario.

“Most Canadians believe there is a need to have a higher level of investment in infrastructure,” said McCuaig. The bank “has the promise of, first and foremost, expanding the amount of infrastructure that we deliver in this country”.

Metrolinx announced McCuaig’s departure last week, calling it “a big loss for Metrolinx but an equally big win for Canada's ambitions to finance and build infrastructure nationally for the 21st century”. McCuaig will assume his new position on 24 April.

Leech, who was appointed to a position as a special advisor for the bank in February, told Infrastructure Investor that while he comes from an institutional investor background and others on the transition team have experience in government, McCuaig “brings a different perspective” as someone with on-the-ground experience running large projects.