Carney appoints new chair and CEO to lead Invest in Canada's investment push

Overhaul at Invest in Canada

Prime Minister Mark Carney announced on Monday the appointment of Dominic Barton as Chair of the Board of Directors of Invest in Canada and Gurinder Grewal as Chief Executive Officer of the federal agency, according to a statement from the Prime Minister's Office.

The appointments are part of a broader push by Carney's government to "catalyse $1 trillion in total investment in Canada over the next five years," as outlined in the official press release. The agency, created in 2018 to attract foreign direct investment, is expected to undertake a "new, more ambitious role" in helping Ottawa meet its goal of attracting $500-billion in new private-sector capital and $1-trillion of total investment in Canada over the same period, the release said.

Carney touted the new leadership's credentials in a statement: "Dominic Barton and Gurinder Grewal have the experience and ambition Canada needs." The Globe and Mail reported that the announcement signals a "more muscular role" for the agency.

New leadership

Barton brings a long career in global business and public service. He is Chair of Rio Tinto and LeapFrog Investments and spent more than 30 years at McKinsey & Company, including nine years as Global Managing Partner, according to the Prime Minister's Office release. He previously served as Canada's Ambassador to China from 2019 to 2021 and chaired Canada's Advisory Council on Economic Growth, which in 2016 recommended the creation of Invest in Canada, SooToday reported.

Barton will serve as chair for a three-year term on a part-time basis, SooToday reported.

Grewal is Founder and Managing Partner of MEM Growth Partners, with experience investing in energy, industrials, infrastructure, and technology sectors. He previously spent more than a decade at private equity firm Advent International, where he was a Partner and Co-Head of Industrials, Infrastructure, and Energy, the Prime Minister's Office said.

Invest in Canada's outgoing chair, Karl Tabbakh, was thanked for his service and will remain on the board to support the transition, the Kingston Whig-Standard reported.

Broten's departure

The Globe and Mail reported that Laurel Broten, who has been CEO of Invest in Canada since 2022, is leaving her job on Sept. 1. SooToday reported that no explanation was given for Broten's early exit, and an anonymous source told the outlet that Invest in Canada's contributions to the upcoming investment summit have been limited.

Investment summit and goals

The leadership changes come two weeks before Carney's inaugural investment summit in Toronto, where he is expected to assemble foreign investors and heads of major domestic funds to pitch Canadian projects, SooToday reported.

In its new form, Invest in Canada will lead efforts to bring in billions of dollars in new investment in Canadian energy, critical minerals, artificial intelligence, and infrastructure, working with provincial, territorial, Indigenous, and municipal partners, the Prime Minister's Office said.

The Kingston Whig-Standard reported that the stock of foreign direct investment in Canada reached $1.6 trillion at the end of 2025, a 9% increase.