Structure and Board of Directors
Management Committee

Headed by our President and CEO, our Management Committee is composed of seasoned managers. Discover their profiles.

BICHA NGO, Première vice-présidente exécutive, Placements privés


President and Chief Executive Officer
Investissement Québec

As a seasoned leader in the business world, Ms. Bicha Ngo is known for her strategic thinking and extensive transactional experience. Her experience and operational know-how are undeniable assets in carrying out Investissement Québec’s important mandate.



Ms. Bicha Ngo was named President and CEO in February 2024.


She joined Investissement Québec in October 2019 as Senior Executive Vice-President, Private Equity. In this role, Ms. Ngo identified and supported key industries and players in our economy.


Under her leadership, the investment and financing sectors (venture capital, investment funds, development capital, specialized financing and natural resources and energy) have all seen accelerated growth thanks to strategies that provide effective and proactive support for businesses’ ambitions, along with customized solutions designed to meet their individual needs.


Prior to joining the Corporation, Ms. Ngo held the position of Vice-President, Corporate Development for nine years at Domtar Inc., where she was responsible for transactions and the integration of acquired assets as well as development of the company’s corporate strategy. She also spearheaded a number of acquisitions and asset sales that helped transform the organization. Prior to joining Investissement Québec, she was a member of the investment banking teams at CIBC World Markets and Merril Lynch.


A CFA charterholder, Ms. Ngo graduated in finance from HEC Montréal and began her career at HSBC.


David Bahan

David Bahan

Senior Vice-President, Economic Development

With his strategic vision, management acumen and extensive experience in economic development policy, David Bahan helps position Investissement Québec as a key partner for Québec’s business leaders.



Mr. Bahan leads the teams responsible for operations entrusted to the Corporation by the Québec government, including the creation of strategic industrial clusters and innovation zones. In addition, he oversees administration of the many government financial assistance programs under Investissement Québec’s responsibility.

Mr. Bahan will take up his duties as Senior Vice-President, Economic Development, on June 3, 2024. Prior to joining Investissement Québec, he served as Deputy Minister of Economy, Innovation and Energy for over five years.


He began his career as an economist with the Insitut de la statistique du Québec. He then joined the Ministère des Finances, where he held various posts including Director General, Personal Policy, and Director General, Economic Policy. He was appointed Assistant Deputy Minister in 2013.


Mr. Bahan is a graduate of Université de Montréal, where he completed his studies for a master’s degree in economics in 1999.

HUBERT BOLDUC, President, Investissement Québec International


President, Investissement Québec International

His extensive knowledge of government operations and the business community, together with his solid experience in drawing foreign investment, make Hubert Bolduc a steadfast ally.



In 2019 Hubert Bolduc was appointed President of Investissement Québec International, the Québec government’s foreign investment prospecting and export assistance agency.


Mr. Bolduc was previously a senior Québec civil servant and President and CEO of Montréal International.

He also held the posts of Vice-President, Communications and Public Affairs, at Cascades from 2004 to 2012 and Advisor to the Québec Premier from 2001 to 2003.

Mr. Bolduc holds a bachelor’s degree in political science from Université du Québec à Montréal, a master’s degree in communication from the University of Stirling in Scotland, and an MBA from HEC Montréal. He is a member of the boards of directors of the Palais des congrès de Montréal, Beneva, Scale AI and Montréal International.

Gladys Caron, Senior Vice-President, Strategies and External Communications


Senior Vice-President, Strategies and External Communications

Renowned for her strategic vision, her ability to engage her teams and her extensive knowledge of the communications world, Gladys Caron has held senior management positions in numerous companies and helped advance their brand management and growth strategies.



Ms. Caron joined Investissement Québec in 2020 as Vice-President, Media, Communications and Public Affairs. In 2024 she was appointed Senior Vice-President, Strategies and External Communications, with responsibility for strategic planning, workforce and business intelligence, as well as external communications and marketing.


Ms. Caron holds a bachelor’s degree in business administration from Université Laval. Prior to joining Investissement Québec, she held various management positions with Alithya Group, Laurentian Bank and Roche Ltd. (now Norda Stelo).


Claude Farrier, Senior Vice-President, Private Equity


Senior Vice-President, Private Equity

Combining several years’ practice as an investment banker with his experience as President and Founder of a company in the technology sector, Claude Farrier brings a very concrete and pragmatic understanding of businesses’ needs and concerns to his duties.



Mr. Farrier joined Investissement Québec in 2023 as Vice-President, Industrial and Diversified Investments and was appointed Senior Vice-President, Private Equity in 2024. In this role, he is responsible for teams financing and investing in medium- and large-sized companies by means of growth capital and debt, as well as teams supporting start-ups with venture capital and investment funds.


Prior to joining Investissement Québec, Mr. Farrier worked for ten years as an investment banker at Merrill Lynch. He then founded an information technology business, which he managed for some twenty years.


Mr. Farrier holds an MBA from Ivey Business School at Western University.


SYLVAIN GENDRON, Senior Vice-President and Chief Credit Risk Management and Legal Affairs


Senior Vice-President and Chief Credit Risk Management and Legal Affairs

Known for his leadership skills and results-oriented approach, Sylvain Gendron has solid experience in corporate governance as well as business and transactional law, particularly in the finance industry.



Sylvain Gendron was named Senior Vice-President, Legal Affairs, and Corporate Secretary in April 2021.


With over 20 years of experience, including several at the executive level, Sylvain Gendron worked at the Business Development Bank of Canada (BDC) for some 15 years. His has also held positions in the private sector at McCarthy Tétrault and Ogilvy Renault.


Mr. Gendron holds degrees in law and business administration (finance) from Université Laval and is a member of the Barreau du Québec (Québec Bar).

PIERRE LEBLANC, Senior Vice-President and Chief Information Officer


Senior Vice-President and Chief Information Officer

Known for his strategic, operational and management skills, Pierre Leblanc has also earned a reputation for his strategic vision and ability to mobilize and engage teams of digital technology experts.



Mr. Leblanc joined Investissement Québec on January 22, 2024, as Senior Vice-President, Business Technologies. In this role, he is responsible for the Corporation’s digital strategy and ensuring its execution, with a special focus on operational agility, business intelligence and the protection of information.


Mr. Leblanc received his bachelor’s degree in computer science from Université du Québec à Montréal. He has held a number of management positions in Québec, the U.S. and Europe, in particular with IBM Canada, Provigo, ABB and McKesson Canada. Prior to joining Investissement Québec, he served as President and CEO of Mondou.


laurent Naud, Senior Vice-President and Chief Financial Officer

Laurent Naud

Senior Vice-President and Chief Financial Officer

As a financial expert with a long track record in banking, technology and telecommunications, Laurent Naud manages several of the Corporation’s strategic functions with rigour, vision and leadership.



Laurent Naud joined Investissement Québec in 2018 as Senior Director, Planning and Analysis. He subsequently held the positions of Senior Director, Performance, Financial Analysis and Real Estate Management and Vice-President, Finance, before being appointed Senior Vice-President, Finance, Credit Risk Management and Business Technology in August 2023. he is known for his ability to bring major initiatives to fruition by focusing on action and results.


Mr. Naud has over 20 years’ experience in the finance industry. He developed his expertise at major corporations such as Laurentian Bank, where from 2012 to 2018 he held the positions of Senior Manager Finance - Systems and Special Projects, and Assistant Vice President, - Finance and Corporate Treasury. Previously, he worked at ModelCom, a financial modelling consulting firm, where he helped numerous companies evaluate their business plans, secure financing and optimize their financial processes.


Laurent Naud has a bachelor’s degree in business administration and a master’s degree in finance. He also holds a Chartered Financial Analyst (CFA) designation.


MARIE ZAKAÏB, Senior Vice-President, Human Resources and Internal Communications

Marie Zakaïb

Senior Vice-President, Human Resources and Internal Communications

Recognized for her ability to build and manage results-oriented teams, Marie Zakaïb is highly skilled at developing and implementing human resource strategies in changing environments.



Marie Zakaïb was Vice-President; Talent, Culture and Corporate Communications prior to becoming Senior Vice-President, Human Resources and Internal Communications in August 2019. Before joining Investissement Québec, she worked for 30 years at TD Bank Group, where she served as Vice-President of Corporate Human Resources and Employee Relations for the Group’s business divisions from 2014 to 2017.


Armed with a bachelor’s degree in business administration, with a specialization in finance, from Université du Québec à Montréal, Marie began her career in 1987 as a Commercial Accounts Manager with TD Canada Trust, before developing a strong interest in human resources and industrial relations.


Starting as an Advisor, she was appointed Human Resources Director, a post she held until 2004. Marie quickly rose to become Senior Director of Human Resources at TD Insurance and later Vice-President of Human Resources, Corporate Functions and Labour Relations from 2006 to 2014. Her responsibilities in that role included change management and transformation projects.


Why choose Québec?