Deputy Prime Minister announces appointment of new Canada Development Investment Corporation President and CEO 

News release

February 23, 2022 - Ottawa, Ontario - Department of Finance Canada

Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Elizabeth A. Wademan as the new President and CEO of the Canada Development Investment Corporation (CDEV) for a five-year term, beginning on March 28, 2022.

Ms. Wademan has over 24 years of experience in financial services, including having worked as a senior investment banker and capital markets executive for 18 years at BMO Capital Markets.  Ms. Wademan is also an experienced corporate director with extensive public company board experience.  


“I would like to congratulate Ms. Wademan for taking on this leadership role at a key Crown corporation that provides long-term vision for and management of key Canadian assets and investments. Ms. Wademan’s extensive experience in capital markets and strategic advisory will serve CDEV exceptionally well in its mandate of managing certain assets and investments on behalf of Canadians.”

The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

Quick facts

  • CDEV was established in 1982 under the Canada Business Corporations Act.

  • Operating at arm’s length from government, CDEV is a holding company with a portfolio of assets and investments held by the Government of Canada, on behalf of all Canadians.

  • The appointee was identified as part of an open, transparent and merit-based selection process. In 2016, the Government of Canada implemented this method for selecting Governor in Council appointees. Appointees play a fundamental role in Canada’s democracy by serving on commissions, boards, Crown corporations, agencies and tribunals across the country.

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Media may contact:

Adrienne Vaupshas
Press Secretary
Office of the Deputy Prime Minister and Minister of Finance

Media Relations
Department of Finance Canada

General enquiries

Phone: 1-833-712-2292
TTY: 613-369-3230

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