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.

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 Canada Development Investment Corporation (CDEV), 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.

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 OSFI. 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.

Andrew Stafl Toronto, Ontario

CPA, CA, MBA

Chief Financial Officer

Toronto, Ontario

Mr. Stafl has been responsible for the financial management of CDEV and its subsidiaries since 2009 and has been a key member of the senior management team throughout this period. His major project responsibilities have included the management and divestiture of Canada’s investment in General Motors which arose out of the government’s support of the Canadian automotive industry.

Since 2018 Mr. Stafl led the due diligence and integration of Trans Mountain Corporation (“TMC”) into the CDEV corporate group and continues to be involved in the financing and analysis of TMC. Andrew has led several other projects regarding the analysis of assets within the government portfolio. Prior to joining CDEV, Andrew worked as a corporate banker at a large Canadian bank.

Mr. Stafl is a Certified Public Accountant with experience in forensic accounting.

Zoltan Ambrus Toronto, Ontario

CFA, MBA, LL.B, ICD.D

Vice President
President and Chief Executive Officer of CEEFC

Toronto, Ontario

As President and CEO of CEEFC, Mr. Ambrus leads the granting and management of funding to Canadian businesses eligible under the Large Enterprise Emergency Funding Facility (LEEFF). CEEFC has signed agreements providing over $7 billion in LEEFF funding to large Canadian companies adversely affected by the COVID-19 pandemic.

Mr. Ambrus has been part of CDEV’s management team since 2010. He led Canada’s divestiture of Ridley Terminals Inc., generating proceeds of $500 million and negotiating the first ever grant of an equity stake (10%) to First Nations by the Canadian government. Mr. Ambrus managed the sale of Canada’s share in the Chrysler corporation to Fiat.

Mr. Ambrus led the review of the monetization potential of Canada’s airports and ports from 2016 to 2018. He also led the review of numerous Crown corporations and other government entities under the Corporate Asset Management Review.

Prior to joining CDEV, Mr. Ambrus was a management consultant and lawyer. He holds an MBA as well as common law (LL.B.) and civil law (B.C.L.) degrees. Mr. Ambrus is a licensed CFA and also holds the ICD.D designation. A native of Montreal, Mr. Ambrus is fluent in French and English.

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.

Sean W. Strickland Waterloo, Ontario

Executive Director
Canada’s Building Trades Unions

Waterloo, Ontario

As Executive Director of Canada’s Building Trades Unions, an association of 14 international unions representing over 600,000 members, Mr. Strickland is responsible for overseeing the operations of the CBTU office, programs and identifying and coordinating opportunities for affiliates and local and provincial councils across Canada; including working with owner clients and employers.

Sean currently represents the CBTU in a number of capacities including sitting on the board for BuildForce, SkillPlan, Multi-Employer Benefit Council of Canada, and Helmets to Hardhats. Additionally, Mr. Strickland participates in several advisory activities including NRCan’s Small Modular Reactor Action Plan and the Federal Government’s Construction Industry Roundtable.

Sean has a Bachelor of Arts in Political Science from the University of Waterloo, is a graduate of the Executive Management Program at Wilfrid Laurier University, and the Leadership Development program from Harvard University. He is the proud recipient of the Canada 125 Medal for Community Service and has served on numerous community boards and committees.

Carole M. Malo Toronto, Ontario

BCom(Hons), CFA

President, Stratford Ventures Inc

Independent Director
Ontario Energy Board, CDEV, Humber River Hospital Board, U of York

Toronto, Ontario

Ms. Malo is a Senior Finance Executive with over 30 years of experience in infrastructure and energy development and financing, corporate and structured finance, investment management in Canada and internationally. Carole held senior roles in both the private and public sector (SNC Lavalin, RBC, Hydro Quebec, Aecon, Infrastructure Ontario).

Ms. Malo has extensive experience on board of Crowns, For-profit and NFP. She currently sits on the Ontario Energy Board, the boards of the Canada Development Investment Corporation, Humber River Hospital and York University. Previous board experience includes the National Energy Board, the Hamilton Utilities Corporation Board, TOK Transit Advisory Board and the United Way Cabinet/ Women Gaining Ground as Co-Chair.

Carole holds a BCom (Honors in Finance), is a CFA Charterholder, a Diversity 50 Award Recipient and a Fellow in Board Governance of the Canadian Board Diversity Council (CDBC) , earned several certifications in regulatory/administrative tribunals as well as in board governance, enterprise risk oversight, climate change and ESG from the Institute of Corporate Directors (ICD).

Ms. Malo is an active member in her professional community including a member of the ICD’s NFP Chair Peer Group, Women in Infrastructure, Women in Energy and an Honorary Member of International Project Finance Association.

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.

Jennifer Reynolds Toronto, Ontario

MBA, ICD.D

Chief Executive Officer
Women Corporate Directors Foundation

Toronto, Ontario

Ms. Reynolds is a CEO of Women Corporate Directors Foundation – the world’s largest network of women corporate board directors, with more than 2500 members serving on more than 8,500 public and private boards around the globe.

Ms. Reynolds’ 25-year career in the financial services industry has included senior roles in investment banking, venture capital, and global risk management. Prior to joining WCD, Jennifer served as the President & CEO of Toronto Finance International (TFI), a public-private partnership which promotes and develops Canada’s financial services sector and serves as the international representative for the Toronto financial centre. Prior to joining TFI, Jennifer was the President & CEO of Women in Capital Markets (WCM), Canada’s largest industry association and advocacy group for women in the financial sector.

Ms. Reynolds is a Director on the Board of BF&M Insurance Group Ltd, the Board of Agrinam Acquisition Corporation, and the Board of Women’s College Hospital Foundation. Jennifer is the Co-Chair of the UN convened Financial Centres for Sustainability (FC4S) network and also serves on the Advisory Council for the Institute of Sustainable Finance. In 2015 and 2017, she was named a Women's Executive Network (WXN) Canada's Most Powerful Women: Top 100 Award Winner.

Jennifer is a graduate of the Harvard Business School Women's Leadership program, and she received her MBA from McGill University, as well as a Bachelor of Arts with a double major in Economics and Political Science from McGill University. Jennifer also holds the Institute of Corporate Directors Designation, ICD.D.

Bob Wener Ottawa, Ontario

MBA, FCA, FCPA

Chief Executive Officer
Wener Advisory Group Ltd.

Ottawa, Ontario

Mr. Wener is currently the CEO of Wener Advisory Group and prior to that, served in various senior roles with Minto Corporation including as Executive Vice President as well as Chief Financial Officer. Bob also held various leadership positions with KPMG in Toronto, Calgary, Winnipeg and Ottawa including Managing Partner of Ottawa and Eastern Ontario. He also served as Deputy Chair of the Board of KPMG Canada.

Outside of his professional work, Mr. Wener has served on the Boards of Carleton University, the Children’s Hospital of Eastern Ontario Foundation, Manitoba Institute of Chartered Accountants and the Institute of Corporate Directors among many others.

Bob is a Fellow of the Chartered Professional Accountants of Canada, Fellow of the Ontario Institute of Chartered Accountants and has an MBA from the University of Manitoba.