Hudon, Canada’s ambassador to France and Monaco, will begin her term in August. She will replace Michael Denham, who has served as the Crown corporation’s CEO for six years. (The Logic)

Talking point: Hudon takes the helm at a time when the Business Development Bank of Canada, which primarily finances small and mid-sized companies, is expected to play a larger role in the country’s recovery from the COVID-19 pandemic. It led a fund-matching program to co-invest in startups that may have struggled to access funds throughout the pandemic. And in last week’s federal budget, the government earmarked $2.6 billion over four years for BDC to help businesses finance technology adoption, and $450 million to renew the Venture Capital Catalyst Initiative deployed through BDC. At the same time, BDC is approaching the regular review of its mandate. Hudon has experience advising the Liberal government on policy, acting as an advisor on Prime Minister Justin Trudeau’s cabinet picks after the 2019 election. Hudon previously headed the Chamber of Commerce of Metropolitan Montreal, held top executive roles at Sun Life and served on the boards of Hydro-Québec, Canada Council for the Arts and Holt Renfrew.