The Caisse de dépôt et placement du Québec has named Michael Sabia as president and chief executive officer, effective immediately.

Sabia, 55, was CEO of BCE from 2002 to 2008, and chief financial officer at CN when the railway was privatized and then taken public. Prior to that, he was with the federal Finance Department and later served as Deputy Secretary with the Privy Council Office in Ottawa.

“We’re very pleased that Mr. Sabia has accepted this challenge, and that we can draw on his financial acumen and experience as a senior corporate executive,” said Robert Tessier, chairman of the Caisse, in a statement. “The Board welcomes him to the institution and offers him its full support.”

“The Caisse de dépôt et placement du Québec has played a unique role in the province and will continue to play a vital role,” said Sabia. “I’m eager to join its hundreds of dedicated employees and to work with them to restore Quebecers’ pride in the institution.”

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