Executive Leadership Team & Board

Elizabeth Wademan  Toronto, Ontario

CFA, ICD.D

President and Chief Executive Officer

Toronto, Ontario

Ms. Wademan is the CEO of Canada Development Investment Corporation (CDEV) and is recognized as a mobilizing leader with a strong strategic focus and action-oriented, ambitious vision. Appointed in February 2022 as President and CEO, Ms. Wademan brings deep private sector expertise from an established career in financial services and natural resources. Ms. Wademan is driven to continue to position CDEV as a results-oriented organization that is a key resource supporting Canada's Department of Finance. She is focused on multiple initiatives across CDEV that will enable the organization to increase its impact and contribute to creating value for Canadians from the Government’s most complex commercial interests.

Prior to joining CDEV, Ms. Wademan was a senior investment banker and capital markets executive, including a long career in investment banking, as Managing Director for BMO Capital Markets, one of Canada’s largest investment banks. She was one of the firm's most senior professionals and was Head, Global Metals & Mining Equity Capital Markets, where she advised on many of the most formative and transformational transactions in the resource sector on the continent.

Ms. Wademan is also an experienced corporate director with extensive public company board experience. She has also been deeply involved in her community and with various not-for-profit organizations.

She holds a Bachelor of Commerce (Finance & International Business) from McGill University and CFA & ICD.D designations.

Sébastien Labelle Ottawa, Ontario

B.A., MPA

Vice President

Ottawa, Ontario

Mr. Labelle has over twenty years of experience in the federal public service and federal Crown corporations in a range of economic policy and program functions, including 17 years as an executive.

Prior to joining CEDEV in April 2024, Mr. Labelle spent five years as a Director General at Natural Resources Canada working to advance major resource projects, leading Indigenous consultations, and programs and policies to advance the development of Canada’s clean energy potential.

Prior to that, Mr. Labelle spent eight years at the Department of Finance and the Privy Council Office where he contributed to several federal Budgets, provided advice and direct support to the Prime Minister and Cabinet, and developed a deep understanding of the way in which government works. Sébastien has also worked on major infrastructure programs and projects at the Department of National Defence, Public-Private Partnerships Canada, and at the Department of Indigenous Services where he focused on public infrastructure such as drinking water, schools, and housing.

Most recently, Mr. Labelle was the executive lead for the Canada Innovation Corporation.

Mr. Labelle has a Master’s Degree in Public Administration, a BA in History and Political Science, and a certificate in Public Sector Leadership and Governance from the University of Ottawa.

Al Hamdani  Ottawa, Ontario

CFA, MBA

Executive Vice President and Chief Business Officer

Ottawa, Ontario

Mr. Hamdani has over 25 years of financial services experience spanning areas including project and corporate finance, enterprise risk management and transformation.

Prior to joining CDEV in 2020, Mr. Hamdani held several senior leadership roles at Export Development Canada (“EDC”) including Global Head of Structured and Project Finance where he led the buildout of a new infrastructure financing business for EDC and originated and negotiated limited recourse financings across various industries in numerous countries across the world. He also served as Chief Risk Officer where he oversaw EDC’s $120+ billion debt, insurance and equity portfolio and led a major transformation of EDC’s risk and governance practices working closely with the Office of the Superintendent of Financial Institutions . Earlier in his career, Al had roles at CIBC Capital Markets supporting asset-backed debt financings in the real estate sector as well as at the Bank of Canada supporting financial sector research.

Outside of CDEV, Mr. Hamdani serves on the Board of Governors of Carleton University, the Queensway Carleton Hospital, and various other not-for-profit organizations in Ottawa.

Mr. Hamdani is a Chartered Financial Analyst and has an MBA from the Rotman School of Management.

Tess Lofsky  Toronto, Ontario

LL.B

General Counsel and Corporate Secretary

Toronto, Ontario

Ms. Lofsky is a legal executive and corporate director with considerable experience in mining and infrastructure. Her expertise in the areas of corporate and securities law and corporate governance were developed over 15 plus years. She practiced at leading law firm Stikeman Elliott LLP, and more recently spent time in senior legal roles as in-house public company counsel at mining and infrastructure organizations.

As General Counsel & Corporate Secretary at CDEV since 2023, Ms. Lofsky provides advice and counsel on a broad range of matters including acquisitions & divestitures and corporate governance, as well as with respect to environmental, labour and employment, health and safety and indigenous law matters related to CDEV’s portfolio of assets and commercial interests.

Prior to joining CDEV, Ms. Lofsky held leadership roles including Senior Legal Counsel and Corporate Secretary for Bird Construction Inc. (TSX:BDT), Legal Counsel and Corporate Secretary for the Greater Toronto Airports Authority, and Vice President, General Counsel & Corporate Secretary at North American Palladium Ltd.

Ms. Lofsky also serves on the board of directors of Frontier Lithium (TSXV: FL). She holds a Bachelor of Social Sciences degree from the University of Ottawa, a law degree from Queens University, and has been a member of the Ontario Bar since 2008.

Thomas Chanzy  Toronto, Ontario

B.A., MSc

Vice President & Head of Communications and Public Affairs

Toronto, Ontario

Thomas Chanzy joined CDEV in 2023 and has over 20 years of experience in executing communications and public affairs strategies in the private, public, and not-for-profit sectors, including issues management, corporate communications, stakeholder engagement, government relations, and media relations. He was most recently a Senior Director at PSP Investments, one of Canada’s largest pension investment managers, where he helped elevate PSP’s approach to communicate about its business and asset classes. Before PSP, Mr. Chanzy worked at TD Bank Group as Head of Communications for the global corporate citizenship department, overseeing all ESG-related communications for the bank, and helped launch TD’s global corporate citizenship strategy, the TD Ready Commitment, in 2018. Prior to joining the corporate sector, he held several management positions in the Ontario government and the not-for-profit sector, including at the Ontario Trillium Foundation, where he served as Vice President, Public Affairs.

Mr. Chanzy serves on the board of Women’s College Hospital. He also served on the board of the Lycée français de Toronto, the Empire Club of Canada, and Philanthropic Foundations Canada. Born and raised in France, and fluent in French and English, he graduated from the Institute of Political Sciences in Grenoble, the ESCP Business School in Paris, and Toronto Metropolitan University.

Russ Wenman  Toronto, Ontario

BSc, PgDL, FCA

Vice President & Head of Execution and Advisory

Toronto, Ontario

Mr. Wenman is a Chartered Accountant and former PwC Deals Partner, with over 20 years of experience supporting and advising corporate and institutional investors on acquisitions, divestitures and financing activities, specializing in leading multi-functional teams on large and complex transactions. Mr. Wenman spent 14 years with PwC’s market leading Deals practice in London, UK, advising a global portfolio of clients across numerous sectors, before transferring to Canada, joining PwC’s Toronto office in 2016.

Mr. Wenman joined CDEV in 2023 as Vice President & Head of Execution and Advisory and leads commercially critical projects, including acquisitions, disposals, strategic alliances, financing, asset reviews, and new program launches, on behalf of CDEV, its subsidiaries, and the Government of Canada.

Mr. Wenman holds a BSc (Hons.) in Biological Sciences (Cell Biology) from the University of Leicester, an LL. Dip. Postgraduate Diploma in Law from Nottingham Law School and is a Fellow of the Institute of Chartered Accountants in England and Wales.

Carlos GallardoToronto, Ontario

CPA, CA, CIP, CRM

Chief Financial Officer

Toronto, Ontario

Mr. Gallardo is a finance executive with a 25-year career in mature financial institutions. His experience encompasses pivotal roles in Finance, Operations, IT, and Risk Management. In his prior position as CFO of AIG Canada, part of a large global insurer operating in 80 countries, he led several transformative initiatives including the implementation of complex regulatory guidelines, data standards, and climate reporting requirements. His role scope included planning, regulatory reporting, capital management, reinsurance accounting and collateral management, and chairing of the Investment Committee, where he oversaw the performance and compliance of a $2-billion securities portfolio. 

Throughout his tenure in commercial insurance, Mr. Gallardo has built solid experience in leading large scale operational and change management initiatives.  

Mr. Gallardo is a Chartered Professional Accountant and Chartered Accountant, and a member of the CPA Institute of Ontario and Canada. In addition, he is also a charter holder of the Chartered Insurance Professional (CIP), and the Canadian Risk Manager (CRM) designations. 

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Dwight Ball  Deer Lake, Newfoundland and Labrador

Independent Director

Deer Lake, Newfoundland and Labrador

From 2015 to 2020, Mr. Ball was Premier of Newfoundland and Labrador, where he led the provincial government through a major reshaping of its economic and social programs. Prior to becoming Premier he was the leader of the Official Opposition from 2012 to 2015. In addition to his role as the Province of Newfoundland and Labrador’s chief executive, Mr. Ball also held direct responsibility for Indigenous, Intergovernmental and Labrador Affairs.

During his time as Premier, in consultation with Indigenous, industry and community stakeholders, Dwight led the Government of Newfoundland and Labrador through a major reshaping of its economic and social programs.

Drawing from his wealth of leadership experience, Mr. Ball has represented his Province at many international and national meetings, often assuming the role of chair or co-chair on many significant initiatives. As a business leader, Dwight has vast experience in team building, conflict mediation, budget preparation and management, media relations, and conflict resolution. He has successfully negotiated numerous business, trade and union agreements.

Mr. Ball is a graduate of Newfoundland and Labrador’s School of Pharmacy, and a former President of the Canadian Pharmacists Association. He has more than 30 years of business ownership experience in healthcare, real estate development, venture capital and seniors housing developments. He continues to serve on a number of industry and community boards where he provides a senior executive level perspective on the challenges associated with succeeding in today’s environment. He understands the importance of leadership while helping clients navigate complex multidimensional issues.

Dwight has been recognized by many professional and community groups for his involvement with Supportive Employment of Individuals with Disabilities, Employer of the Year, Pharmacist of the Year and a range of business and community awards.

Elizabeth Wademan  Toronto, Ontario

CFA, ICD.D

President and Chief Executive Officer

Toronto, Ontario

Ms. Wademan is the CEO of Canada Development Investment Corporation (CDEV) and is recognized as a mobilizing leader with a strong strategic focus and action-oriented, ambitious vision. Appointed in February 2022 as President and CEO, Ms. Wademan brings deep private sector expertise from an established career in financial services and natural resources. Ms. Wademan is driven to continue to position CDEV as a results-oriented organization that is a key resource supporting Canada's Department of Finance. She is focused on multiple initiatives across CDEV that will enable the organization to increase its impact and contribute to creating value for Canadians from the Government’s most complex commercial interests.

Prior to joining CDEV, Ms. Wademan was a senior investment banker and capital markets executive, including a long career in investment banking, as Managing Director for BMO Capital Markets, one of Canada’s largest investment banks. She was one of the firm's most senior professionals and was Head, Global Metals & Mining Equity Capital Markets, where she advised on many of the most formative and transformational transactions in the resource sector on the continent.

Ms. Wademan is also an experienced corporate director with extensive public company board experience. She has also been deeply involved in her community and with various not-for-profit organizations.

She holds a Bachelor of Commerce (Finance & International Business) from McGill University and CFA & ICD.D designations.

Alicia Damley  Mississauga, Ontario

CFA, CPA, CA

Independent Director

Mississauga, Ontario

Ms. Alicia Damley has over 25 years of professional experience which includes defining board governance, corporate oversight and renewal, leading and implementing risk and assurance best practices, and generating investment returns.

Ms. Damley began her career as a public accountant at Deloitte, with responsibility for audit and risk assurance services. Over this tenure, she provided a broad range of advisory and forensic services, functional risk assessments, financial reporting and accounting standards reviews, and fraud investigations and resolution.

Ms. Damley’s subsequent investment career in global markets has focused on generating investment outperformance aligned with client risk and returns. To date, this time has been punctuated with successfully navigating numerous global market crises and required blending unrelated areas of competence.

Ms. Damley’s board experience includes civil society, non-governmental and arts organizations, and executive and committee chair leadership. She has combined her areas of expertise to advise on investment, strategy, and organizational architecture for fintech and mobile technology startups. She is also an active volunteer with a focus on women, financial literacy, and education.

Ms. Damley is a Chartered Financial Analyst Charterholder, as well as Chartered Professional Accountant (Canada) and Chartered Accountant. She holds an Honours Bachelor of Science and a Master of Business Administration from the Rotman School, both from the University of Toronto.

Sandra Rosch Toronto, Ontario

MBA, ICD.D

Executive Vice President and Director
Labrador Iron Ore Royalty Corporation

Toronto, Ontario

Ms. Rosch is an experienced restructuring and financial advisor who has played a leadership role in complex assignments in diverse industries. She is currently Executive Vice President and a Director of Labrador Iron Ore Royalty Corporation. Ms. Rosch served as President of Stonecrest Capital Inc., an independent Canadian restructuring firm, until December 2018. Previously, Sandra worked for 17 years as an investment banker with two of Canada’s largest investment banks.

Ms. Rosch has been a director of Canada Development Investment Corporation since 2015 serving on the boards and various committees of several of its subsidiaries. She is currently Chair of Canada Enterprise Emergency Funding Corporation.

Ms. Rosch is a member and past director of the Turnaround Management Association, Toronto Chapter. She holds the ICD.D designation and earned a Bachelor of Commerce from McMaster University and an MBA from Ivey Business School at Western University.