Gaétan Morin has announced he will retire as president and CEO of Fonds de solidarité FTQ, a Montreal-based private equity and venture capital investor. Morin has held the role for almost seven years. He will be replaced by executive vice-president Janie Béïque, who will takeover in April as Fonds de solidarité FTQ’s first female head.
MONTRÉAL, Jan. 21, 2021 /CNW Telbec/ – After serving for almost seven years as President and CEO of the Fonds de solidarité FTQ, Gaétan Morin announced today his intention to retire on March 31.
Janie C. Béïque, the current Executive Vice-President, Investments at the Fonds, will take over the helm on April 1st.
“When Gaétan was appointed in 2014, we touted his track record as a manager known for his integrity and ability to bring people together, his encyclopedic knowledge of the investment industry and his ardent desire to further Québec’s economic growth. Gaétan embodied all these attributes throughout his tenure, which is filled with successes and achievements for the Fonds,” said Fonds Chairman Claude Séguin.
“Together with the Fonds’ management team and its employees, Gaétan has masterfully led the organization to modernize its investment strategies and implement a new approach to support our shareholders-savers by, in particular, creating FlexiFonds, which offers financial products to supplement the Fonds’ more traditional retirement savings product. As a result, during his mandate, the Fonds’ net assets grew from $10 billion to some $16 billion, the number of shareholders increased from close to 615,000 to more than 700,000, and the annual pace of investments impacting the Québec economy doubled to $1.2 billion. He has been instrumental in making Quebecers proud of the Fonds de solidarité FTQ,” said Mr. Séguin.
“I feel that the timing is right to announce my retirement. In recent years, the Fonds has accelerated its growth and is well positioned to help drive Québec’s growth. This kind of performance is never the work of just one person. I would like to thank not only the Fonds’ Board of Directors and its two successive chairs, Robert Parizeau and Claude Séguin, who placed their trust in me, but above all my colleagues on the executive team and all the employees of the Fonds and its vast investment network, as well as our local representatives, for their confidence and support, for their strategic intelligence and for their unflagging commitment to serve our savers and support local businesses and their workers,” said Gaétan Morin.
“We consider Janie is both a natural and a strategic choice. She’s an accomplished manager who has held important positions during her more than 20 years at the Fonds, including overseeing the entire investment group as Executive Vice-President, Investments, since 2018. Dynamic and strategic, Janie has demonstrated vision and an unwavering commitment during her career at the Fonds, in particular, by restructuring the investment sector to make it more effective in fulfilling the mission to create a significant lasting impact on the Québec economy. She perfectly embodies the fundamental values of the Fonds de solidarité FTQ,” concluded Mr. Séguin at the end of the Board meeting held earlier today, which unanimously approved the recommendation of the Fonds’ HR committee.
“I thank the Board of Directors for their confidence. We are facing major issues that are being exacerbated by the pandemic. The impact on humans and companies of ever-changing technologies, global competition and environmental issues requires us to make a just technological and environmental transition by putting people at the forefront of our decisions. The Fonds is a unique tool that profitably invests the savings of Quebecers in the local economy. The Fonds not only has capital to invest; it also has a network, assets, projects and skills that it can leverage to make a meaningful difference in these transitions. My goal is to work with our employees to increase the Fonds’ impact on society, through our investments and involvement. Together with our savers, local representatives, partner companies, the business community and the governments, the Fonds will invest even more to build a better society,” said Janie C. Béïque.
Biographical notes – Janie C. Béïque
Ms. Béïque joined the Fonds de solidarité FTQ in 2000 as Vice-President, Legal Affairs, and Corporate Secretary. She joined the investment sector in 2008, where she served in turn as Senior Vice-President, New Economy, and Senior Vice-President, Natural Resources, Industries, Entertainment and Consumer Goods. In 2017, she was promoted to Chief of Investments and Strategic Investment Initiatives, assuming responsibility not only for managing this sector’s operations but for defining and implementing the Fonds’ strategic investment directions. One year later, in 2018, she was appointed Executive Vice-President, Investments.
Holder of a law degree from Université de Montréal, Ms. Béïque was called to the Barreau du Québec in 1991. In 2005, she was named by L’Expert magazine as one of the Top 40 Corporate Counsel Under 40 and in 2014 she won the ZSA award in the “Accomplishment and Business Strategy” category. She has been a member of the Institute of Corporate Directors since 2012 and in 2015 earned an MBA from Georgetown University in the U.S. and ESADE University. In 2016 and 2018, she was named an “Innovation Leader” by the Government of Canada and asked to moderate roundtables in Québec and the Maritimes with a view to helping the federal government develop its innovation strategy.
Ms. Béïque has been awarded a five-year renewable mandate, as stipulated in the Act to establish the Fonds de solidarité des travailleurs du Québec (F.T.Q.).
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is investing in a better society thanks to its over 700,000 shareholder-saver. Through its private equity and venture capital investments, the Fonds seeks to have a positive impact on society, namely in the health, environmental and innovation sectors. With net assets of $15.6 billion as at November 30, 2020, the Fonds supported over 3,300 partner companies and more than 220,000 jobs. To find out more, visit fondsftq.com.