Doug Guzman, deputy chair of RBC and former head of its wealth management and insurance businesses, will be chief executive of the Defence Investment Agency, Prime Minister Mark Carney announced. He’s tasked with making the government’s purchases of new military equipment run more quickly and smoothly, while using those procurements to support Canadian industry. (The Logic)
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Doug Guzman, deputy chair of RBC and former head of its wealth management and insurance businesses, will be chief executive of the Defence Investment Agency, Prime Minister Mark Carney announced. He’s tasked with making the government’s purchases of new military equipment run more quickly and smoothly, while using those procurements to support Canadian industry. (The Logic)
Talking point: Canada’s defence procurements are notoriously laborious: Canada is on its third prime minister since it started the process of buying new fighter jets and might yet change its mind about a full fleet of F-35s. The industrial benefits policy connected to the current process is troubled. And Carney has promised to spend many billions of dollars to get the Canadian Armed Forces re-equipped quickly. He touted Guzman’s expertise in “capital allocation, project execution, and large financial projects” as key to the new agency’s success.
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