Fondaction, a Quebec-based private investment firm, has named Geneviève Morin as president and CEO. Her appointment begins January 6, 2020. Since February 2019, Morin has been the president and CEO of Anges Québec Capital.
MONTREAL, Dec. 18, 2019 /CNW Telbec/ – The members of Fondaction’s Board of Directors are pleased to announce the appointment of Geneviève Morin to the position of President and Chief Executive Officer of the organization. She will take up her duties on January 6, 2020.
Geneviève Morin has three decades of experience in financial institutions fulfilling various functions with increasing responsibility. Since February 2019, she has been the President and CEO of Anges Québec Capital. Before, Ms. Morin was the Chief Investment Officer of Fondaction, contributing directly to its position as the largest investment fund committed to sustainable development in Québec.
Ms. Morin joined Fondaction when it started up in 1996, initially in administration and then in finance and corporate development, before being appointed as Chief Investment Officer in 2011. Previously, she held several positions at Desjardins Group.
“Her keen knowledge of Fondaction, of its mission and values, and her expertise form a profile that is essential to the organization. Following a rigorous process, the selection committee was convinced by the vision of the future that Geneviève Morin presented to it, in line with Fondaction’s essence and with the momentum required to guide the organization in this new stage,” said Jacques Létourneau, Chairman of Fondaction’s Board of Directors.
At Fondaction, Geneviève Morin led the development of an investment portfolio enabling a net increase in the portfolio’s profitability with a sustainable development prospective. She applied herself to developing a system that enables the validation and documentation of the overall performance of the businesses that Fondaction supports.
“Fondaction has always been a precursor, chosen by savers and businesses that wish to have a positive impact on key issues in society, such as reducing inequality and the fight against climate change. I am very happy to return to this organization, which I accompanied since its very beginning, and to pursue its development with all of its teams and stakeholders,” said Ms. Morin.
Geneviève Morin sits on the boards of directors of the Canadian Venture Capital Association (CVCA) and of Investissement Québec among other things. She has an MBA in Finance from HEC Montréal and a B.A. in Economics from Concordia University.
Geneviève Morin will succeed Léopold Beaulieu, who founded the organization in 1995 and headed it until now. In September 2019, Mr. Beaulieu, at the age of 73, informed the Board of Directors of his intention to retire. “There is a time when a founder must step aside, and that is when the company is doing well,” he said. “I am optimistic and confident about the future of Fondaction under Geneviève’s governance.”
Fondaction’s Board of Directors wishes to highlight Léopold Beaulieu’s exceptional career. He is renowned for being a visionary by devoting Fondaction, from its creation, to addressing the major issues of sustainable development in Québec and abroad. “Léopold enabled thousands of Québeckers to benefit from the fruit of their labour and build for themselves a more comfortable retirement,” stated Jacques Létourneau. “I now wish him a happy retirement. It’s his turn to benefit from it.”
Fondaction sets itself apart from the rest through its investments, which are aimed at supporting, promoting and encouraging sustainable development. It manages assets in excess of $2 billion collected as retirement savings from more than 170,000 shareholders. Fondaction supports the development of more than 1,200 SMEs, many of which are social economy enterprises. Fondaction helps create and maintain jobs and reduce inequalities, and contributes to the fight against climate change. Fondaction reduced the carbon footprint of its equity market investments by 51% between 2015 and 2018. For more information, go to fondaction.com or our LinkedIn page.