{"id":6884,"date":"2021-01-28T05:00:03","date_gmt":"2021-01-28T05:00:03","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/01\/28\/with-a-new-leader-in-place-the-canada-infrastructure-bank-is-out-of-excuses\/"},"modified":"2021-01-28T05:00:03","modified_gmt":"2021-01-28T05:00:03","slug":"with-a-new-leader-in-place-the-canada-infrastructure-bank-is-out-of-excuses","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/01\/28\/with-a-new-leader-in-place-the-canada-infrastructure-bank-is-out-of-excuses\/","title":{"rendered":"With a new leader in place, the Canada Infrastructure Bank is out of excuses"},"content":{"rendered":"
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\u201cI speak both languages,\u201d Vrooman said in a separate interview, referring to her experience in both the public and private sectors. \u201cThere\u2019s a clear plan in place. There\u2019s a CEO with experience. We\u2019re well-positioned to execute.\u201d<\/p>\n

CIB\u2019s initial plan was less than clear. In effect, McKenna inherited a beta version of a new Crown corporation that was not ready for prime time, so part of the former environment minister\u2019s new job became fixing the infrastructure bank.<\/p>\n

McKenna and her staff looked at governance, wondering if operational bugs were impeding performance. She recruited Sabia, who had retired from the Caisse after turning it into one of the world\u2019s biggest and most-respected pension funds, to put the weight of his reputation behind an overhaul of CIB\u2019s mission. Finally, in October, Ehren Cory, the well-regarded head of Infrastructure Ontario, was drafted<\/a> to execute a new game plan.<\/p>\n

\u201cAfter a slow start, things have picked up,\u201d Vrooman said. \u201cFocus is key.\u201d<\/p>\n

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There\u2019s a clear plan in place. There’s a CEO with experience. We\u2019re well-positioned to execute<\/p>\n<\/blockquote>\n

High expectations explain some of the negativity that now hangs over CIB. As Vrooman said, \u201ceveryone wants infrastructure yesterday.\u201d Prime Minister Justin Trudeau did too little to explain to the public that it takes time to build new Crown corporations from scratch, which was a costly mistake. CIB emerged as a political liability, an example of Trudeau\u2019s alleged weakness as a manager.<\/p>\n

The Conservatives promised during the 2019 election campaign to kill the infrastructure bank, a pledge that helped them win the most votes, although not the most seats. The political controversy probably made it even harder to get money out the door, as it\u2019s unlikely investors were keen to partner with an institution that was only an election away from death.<\/p>\n<\/div>\n\n
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Article content continued \u201cI speak both languages,\u201d Vrooman said in a separate interview, referring to her experience in both the public and private sectors. \u201cThere\u2019s a clear plan in place….<\/p>\n","protected":false},"author":2,"featured_media":6885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/01\/Tamara-Vrooman-1.png","fifu_image_alt":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-6884","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-news"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/6884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=6884"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/6884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/6885"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=6884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=6884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=6884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}